The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-10-26
INSURANCE in INDIANA
STATISTICS IN THE COMMISSIONERS
ANNUAL REPORT.
One Hundred Fewer Companies of All
Kinds Doing Business i'm the state
Than Five Years Ago.

The oldest fire insurance company trans
acting business in Indiana from foreign
country was Incorporated in no The old
est fire insurance company belonging to the
United States that conducts operations in
this State was incorporated in 1894. Alto
gether 1l3 fire companies are writing in
surance in Indiana, OF which six are native
10 the State. seventy-three have their Off
ciaI residence in other States and thirty
four have their home offices across the
ocean.
These are among the interesting facts
that will be contained in the report Of the
insurance department Of the state auditors
Office, which is now i'm process of prepara-
tion by Cyrus +. Neal. chief clerk, and Miss
Nellie Moore, his assistant.
The report further shows that fifty-four
of the fire companies operating in Indiana
ware Incorporated more than fifty years
ago. The Hartford Fire Insurance Com
pany of Hartford, Conn, enjoys the dis
tinction of placing in 1896 the first fire in
surance ever written in this State by a
company that is now doing business in In
diana. The next insurance of this kind was
written i'm 1874.
Only twelve of the companies now doing
business in this State were writing policies
in Indiana before and during the civil war
Twenty-one of the companies now operat-
ing In the State were here before and dur
ing the great Chicago fire of 1871.
OF the companies now writing business in
Indiana twenty-eight were admitted be-
tween the Chicago fire of 1871 and the year
1880. Fifty-siX OF the companies that are
now engaged in policy-writing in Indiana
have been thus engaged for more than
twenty years. Eight of the companies now
on the state auditors list We're Incorporated
prior to 1900.
During the year past five fire companies
were admitted 10 Indiana; two consolidated
with other companies and ten reinsured
their business, retiring from the field.
WEDDING OUT PROCESS.
The figures of Mr.. Neal show that there
has been wedding out of insurance COM
panies i'm the past five years. Five years
ago 36l companies of all kinds were send
ing i'm reports to the auditor of state. while
now the number is only PSI. a falling off
of 100 companies. The number of licenses
issued by the auditor. however has been
increasing. Five years ago 1900 licenses
were issued annually To insurance agents
at present the number f. about p 600 "A wear
Receipts from insurance companies now
are 100000 year greater than they were
five years ago
There are twenty-five more fire insurance
companies In Indiana now than five years
ago, and the business OF all companies that
report To- the auditor. including fire life
growing steadily for several years The
first law making IL obligatory upon in
surance companies To report To the auditor
was enacted in 1885. the date being March ?
Under the head OF life insurance com
panies. the report shows that at present
there are forty-three companies which
maintain the legal reserve for protection OF
policy holders. which are making regula r
reports TO the Insurance department of the
auditors office. OF these. five are Indiana
companies and thirty-eight belong TO other
States Five years ago only thirtv-three
such companies made reports
Fifteen OF the legal reserve life COM
panies that reported 10 the auditor have
passed the prime of life" having been in
business more than nifty years. Twenty
OF these companies are over forty years
old
by companies that are now Transferring
business In Indiana legally was executed
by two companies in the year IS4S Tween
ty-one of the legal reserve companies
named have been transacting business in
this State more than thirty years
Besides the life and fire insurance COM
panies mentioned, twenty-eight companies
are engaged In writing miscellaneous in
StIrauce. such accident. plate glass
surety. steam boiler. etc. OF these com
panies twenty-five belong 10 other States
and three are organized under Indiana
laws
Eighteen assessment life and accident
companies OF this State make reports 10
the auditor. and twelve OF such companies
belong 20 other States. Reports are also
made by eleven fraternal insurance or
gsnizations OF Indiana and thirty-two OF
other States
The report speaks a good word for COM
panies doing various kinds OF Insurance
business organized in this State within the
past few years.