The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1901-08-28
To the First Life
Insurance Company
fo the Islands-A
Home Institution

The purpose Of the Oriental Life In
surance Com any of Honolulu is to do
general .fe insurance business on the.
Hawaiian Islands and I'm the orient.
The company's home office will be at
Honolulu, with branch offices at Shang-
hal, Tientsin, Chefoo, Foo Chow, Annoy
Hongkong, in China; at Manila, Philip
pine 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-
tions. British life companies have been
DOING business in China for sixty years
and American companies for about
thirty years.
The Legal Reserve or "OId Line" svs-
tenn of life insurance has been by
far the most successful of all, and the
companies organized under legal re-
serve laws within the paststen 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 a paid in
capital of $100,450, and in that year is
sued over 1000 policies. The Oriental
Life Insurance Company begins BUSH
ness with limit of $4,000 upon one life
and will maintain the limit until such
time as the premium income, and NOR.
tuary reserve fund will justify an inc
crease of amount at risk. A large cap>
ital is not at all necessary, the only
object or advantage in having any can
ital to begin with is that the company
may be able to meet any possible death
claims during the first year of business.
and to open it's offices at points desired.
The Oriental Life Insurance Company
of Honolulu will invest it's funds in APP
proved Island securities and hopes to,
have the hearty support of the citizens.
of the Territory; and such support
when given win rebound to the advan-
tage of the Islands in that the thou
sands of dollars annually paid for new,
insurance in outside concerns would re-
main and be distributed here at 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 solicitor he began work in Illinois
and later in Wisconsin. In 1898 NJ. Nc
Coy made an extended trip to the ORR
ent in the interests of the Mutual Life
Insurance Company of New York.
| I'D iN"'NNN AOui tech years III OHlnds
and speaking the Mandarin dialect
fluently, Mr.. Mccoy is peculiarly fitted
to ably serve the new company in
China, and it's immediate success in
that country seems certain.
Mr.. Bruce Whitney, at present assist
ant superintendent of the Domestic
Agencies Department OF the Mutual
Life Insurance Company of New York
at that companys 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 fifteen
years at Detroit, Milwaukee, Peoria.
Ills, and at the home Office In New.
York City.
The new enterprise is launched un-
der most favorable auspices, is on a
firm basis, and backed by substantial
men who are determined to push 1t for
ward to the highest possible success.