The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1901-08-28
To The First Life
Insurance Com.
pany Of the Isl.
ands Home
Institution,

T HE purpose Of the Oriental Life In
| surance Company of Honolulu is
| to do a general life insurance bust
ness on the Hawaiian Islands and in
| the Orient The company's home Of
flee will be at Honolulu, with branch
offices at Shanghai, Tientsin, Chefoo,
| Foo Chow, Annoy, Hongkong, in China;
at Manila. Philippine Islands; and at
Singapore, Straits Settlements.
Leading American companies are is
suing policies on people of every nation
at all treaty ports of China, and other
| Oriental countries, the rates charged
being adjusted by the actuaries of the
companies according to climatic condi-
tons. British life companies have been
doing business in China for sixty years
and American companies for about
thirty years.
The Legal Reserve or "Old Line" sys-
tenn of life insurance has been by
far the most successful of all, and the
companies organized under legal re-
serve laws within the past ten or fifteen
years in the United States have been
without exception highly successful. AS
an example the Conservative Life In
surance Company of Los Angeles, Cal,
began business in 1900 with paid in
capital of s100,45 and in that year is
sued over 1000 policies. The Oriental
Life Insurance Company begins BUSH
ness with limit of So, 900 upon one life
and will maintain the limit until such
Nne as the premium income and NOR
tuary reserve fund will justify an in
crease of amount at risk. A large cap
ital is, not at all necessary, the only
object or advantage in having any cap
ital to begin with Is that the company
| may be able to meet any possible death
and to open it's offices at points desired.
| The Oriental Life Insurance Company
of Honolulu will invest it's funds in ap-
| proved Island securities and hopes to
have the hearty support of the citizens
of the Territory; and such support
when given will rebound to the advan-
| tage of the Islands in that the thou
sands Of dollars annually paid for new
| insurance in outside concerns would
remain and be distributed here al
home.
The Oriental Life Insurance Company
will have as president Mr.. J. P. Mccoy
formerly of the Mutual Life Insurance
Company of New York. whose insur.
ance experience dates from 1889, when
as a solicitor he began work in Illinois
and later in Wisconsin. In 1898 Mr. Nc
tCoy made an extended trip to the Orient
in the interests of the Mutual Life In
surance Company of New York Hav-
ing resided fourteen years in China. and
speaking the Mandarin dialect iuently
/ Mr.. Mccoy is peculiarly fitted to ably
serve the new company in China. and
its immediate success In that country
| seems certain
| Mr. Bruce Whitney, at present assist
I ant superintendent of the Domestic
| Agencies Department of the Mutua!
Life Insurance Company of New York
at that company's home Office, will act
as secretary of the new company The
| company is extremely fortunate in Sc
curing the services of this experienced
officer. He has been connected with the
offices of the Mutual Life Insurance
Company of New York for over fifteer
years at Detroit, Milwaukee, Peoria
Ills, and at the home Office in New
York City.
The new enterprise Is launched I'M
der most favorable auspices. Is on ;
firm basis, and backed by substantial
men who are determined to push it for
lward to the highest possible success