The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-21
MADE A GOOD PROFIT
Fire Insurance Companies in Mime.
sofa Averaged 20 Per Cent
Profit Last Year.
Mutuals Show a Larger Loss Rstio
Than the Old Line Com
panies,

Insurance Commissioner Dearth has
compiled figures showing the insurance
written, premiums received and losses
paid by Are insurance companies IN Mill
nesota last year. The figures show that
an average profit of 20 per cent was
realized by the companies.
Under the head Of joint stock fire and
marine companies, the figures show the
following:
Total risks written In 1902, by foreign
companies, SCI, 4121s9: premiums received,
$1.oSs,545; premium rate. SLIT; losses IN
cured. $441.2 9s; proportion of losses IN
CURED to premium received, 40 per cent.
In 1901 the risks written by this class
of companies were $50, o69,971; premiums
received $1.os5,570: premium rate, S1.67;
losses incurred s501,S27; proportion OF
losses incurred to premiums received, 56.22
per cent.
The risks written in 1902 by American
stock fire insurance companies were S2Sl,-
s3972s: premiums received, sS,9S7, o63;
premium rate, $1.42; losses incurred
| 81, 661 .667: proportion Of losses incurred
to premiums received, AZ per cent.
| In 1901 the same class Of companies
| wrote risks to the amount of 73,235, 592;
premiums paid, $3,455,149; premium rate.
s1.27; losses incurred $1,72o,957; proper
ton of losses incurred to premiums re-
ceived, 1880 per cent
| Ratio OF Losses.
The grand totals for the two classes OF
companies for 1902 were: Risks written
| s34o ISL GIT: premiums received, $685.
500; premium rate. s1.4s; losses incurred
s., 102, 965; proportion of losses Incurred tc
premium received. Al per cent.
The comparative figures for 1901 were
risks written, 1897 ,305, $685. premiums re-
ceived, $4,540,719; premium rate, $1.55
losses incurred, s2,222,7S5; proportion o
losses incurred to premiums received, 4S9'
per cent.
The marine insurance written in 100:
amounted to Sill, .932; premiums re-
ceived, SAB 49S; premium rate, So cents
losses incurred, s300,971; proportion o
losses incurred to premiums received, 81
per cent. In 1901 the risks written were
| $1O9, 452, SOL; premiums received, S449, 654
premium rate. Al cents; losses incurred
$22S,612; proportion Of losses incurred t.
premiums received, 81 per cent.
Business OF Mutuais.
Figures of the mutual insurance com
panies and Lloyd's show risks writer
in 1902, s13.eS4,419; premiums received
$241.975; premium rate, s1.73; losses in
Cured, $117,7 1872; proportion Of losses in
CURED to premiums received. 46 per cent
In 1901 the figures were: Risks written
s1o.211, 1911; premiums received. $236, S99
premium rate. $1.94; losses incurred, $95,
i1S: proportion OIL losses 'llCuIISO' " ~ Z
, nliums received, 40 per cent.
5 Figures of the township mutual com
panies for 1902 give the total@assets at tn
| beginning Of 1909 as $154,s2 receipt
!, during the year. $s75,5e9; total assets
s42s,ee9; losses paid. 1e5,669; expense
paid, S75,553; total disbursements. $241,
222: balance on hand at end Of year; $lSS,
TIC: insurance in force at end OF yea1
l $14s.541 .593. The insurance in force q
5 the end of 1901 was $135, 500.
The mutual hail and cyclone companie
: wrote $13.o70,24s in insurance during til
: year. which was an increase Of ..ove
; IS, 900, 900 The assets Of these co1npanie
!, Lat the beginning OF, 1902 were 2,45(
cash received $44o,277; total receipts
!; $552.72s; total disbursements. $427,e69; as
sets on hand at end of year, $125,05s;7 tt
tai liabilities, $33. $52; insurance write
: during the year. $13,270;24s.
In 1901 the amount Of insurance write
; by mutual hail companies was s5,232,5S
! total disbursements, $1533so; cash re
p ceived. $177.394. In 1902 the mutual ha
: companies had losses amounting to $3.50
: 1885, and paid $249.207.