New-York tribune., 1902-02-03
A STRONG LIFE INSURANCE COMPANY
FIFTY SIXTH ANNUAL REPORT OF THE CoNNECrI
CUT MUTUAL.

FIFTY -SIAIH ANNUAL REPORT OF THE CONNECT
CUT MUTUAL
The ffty-sxth annual report OF the Connecticut
Mutual Life Insurance Company has been issued
signed by Jacob L. Greene, president Of the COM
pany. The report shows that the increasing scale
OF dividends maintained Dy company for twenty
one years has been continued. The report says in
part:
The new business written was larger in amount
than In the previous year; the number of lapses
the increase in the amount of business in force was
crease in premium income and in assets '
Owing to the age of the company and the remark
ably small proportion of lapses and surrenders and
the consequent persistence Of its business its risks
have come 10 have a greater average age than
aely larger resources in he reserves held on the
age age the mortality is ecessariy arg If sVeP Far
less than was expected, and has been provided for
by these greater resources, corresponding mart of
which becomes each year a saving from the eS-
pected losses This saving during the last year
The volume Of risks their excellent character.
the new business is selected replace the Old ali
able In rate and very uniform on the svaraor f%aor
Throughout the entire history of the company 7ts
pected nave Oee less ina" iourthS of those ex
The same careful economy has been exercised &c
expenses incident to the care ana repairs upon
expense account acc rather than to the property ac-
count. nave nave carried carr our expense ratio temporarily
hlgher than our usual standard. This difference
Wi disappear as the property which has caused it
- uISpOaeu VI Inc IdtlO LOT I9Ul less
that for 1900. ''i
In outlining the sound position for life insurance
companies to take, the president continues his re
port:
1t is because there is but Just the one thing that
life insurance can do that other Institution csn
do, and because, at best, its necessary coet ie
relatively nigh, and because any other fnanciai
operation can be better and more cheaply done Nv
some other institution organized for its own snacid
purpose, and because life insurance comnanT a.
not do anything that other institutions specidcaT,
undertake except at disp-oportionate ana i.vcacy
sive cost, and yet more because any other thin,
which other institutions undertake is in snecidc
aim, method, and incident, in conflict win and
more or less destructive of the proDer aiTns
methods, and results of life insurance and a.
ministration; it is because of these things The 90
nectcut Mutual has refused to be led > side I, IL
stress OF competition, 70 deck out life insiIIarHa
IN the garb OF something else, has adhered to tbe
true and particular aim of life Insurance ana IT,
Its intended result Of perfect protection at low cost
in an incompatible degree; ii Is because of tbose
things that II stil bases and frames ana "a
ministers Its contracts as to give to its i
sure protectlon at least cost and annual cost 10
the payer of the premiums according to his CO.
proper risk from whatever cause, protectinp bt,s,
against fraud by others and the cost of il and nnt
taking anything from him by any device for tbe
benefit OF else. " 'i4N
1t is in its business conceived. so based and
that great strength, steady prosperity and that
steady and great volume of operation that haTe
enabled IL 10 serve its members their unioue ad
vantage: and II is in holding the same sure
conditions and in the full fruuon of their conse-
quences. that 1t confidently hopes to render a
future service of equal benehcence dependent
f..nilic-. :. .1 .-! TI!ue to those whose duty
- - - -: Lem