The news & observer., 1904-12-16
INSURANCE REPORT
Brief Summary of Facts
from Commissioners
Annual Review.

The annual report Of the Insurance
commissioner for the ear ending
I April lSt 1904, is full OF interesting
statistics showing a Temafkaple
growth of insurance business IN the
state and indicating with much cleaf-
ness the great Naiue of the depart
ment, both as a producer OF revenue
and as a protection to the people.
Significant in the report is the snow
.ng of the great increase in home
companies since the organization Of
the company in 1899. AT that tine
there was no stock or legal reserve
life insurance company within tht
State and only one mutual associations
with assets of $479.35 and total re-
CENTS of $2,5ZS.95. While in 1903 the
state companies doing business Win
a legal reserve report assets of $S76,-
569.V7, capital $4,000 Business In
force, $2,23S,677, and premiums. SOL
J3120. The State fire insurance com
Danies showed an even more remark
able increase, both in numbers and
resources.
During the five years succeeding the
organization of the Insurance Depart
ment the increase in assets of home
i've insurance companies was $2,44S,-
213.S1, in capital $685, 500, in surplus
$19S, 1882 in business, $32,242,1O7.-
81, in premiums $500, 0,190.62 and in in
surance in force $33460,856.07.
The total number and classes of in
surance companies licenses during the
year were: Life Companies, 80, Assess
ment Life, p, Fire and Fire and Ma
rine Companies, 104, Accident and
surety 81 ana Fraternal Orders, 50.
During the year there were admit
| ted Life. fire, miscellaneous com
oauies and 10 fraternal orders OF
which there were 4 Life, l Fire, / Mis-
| eellaneous companies and fraternal
| orders organized within the state.
An interesting feature of the report
S the reference to insurance of state
property, with the amounts carried on
! he various buildings and institutions
civen in detail. Under acts of the
! legislatures of 1901 and 1903, the plac-
ng of policies was put in the HANDS
| f the Commissioner the amounts car
| led to be determined by him and the
| )fficers in charge of the various build
| ngs. Since the passage of the flrst
| # these laws, the value of State prop
rty has increased from $4,820, 600 to
| ;5,180,O0O, and the insurance from
/ 664, ,475 to $S57.73737. The valua-
| ions of the various State buildings
! md the amount of insurance carried
! n each are as follows:
| Capitol building, value $500. .000. 90,
! insurance, none. Governors Mansion
nd furniture, value $IU,OOO, insurance
! 25,500. Supreme Court building and
| ontents, value $250,000. insurance
| $4,000 Agricultural building and
! ontents. value $500, 900. insurance
, $3.50 State Prison building and
ontents value $1.250.000 insurance
lone State Prison farm property
! Ialue. 100000. insurance $40,075
| Books (Secretary of State) value $40
90. Insurance $28,500. University OF
North Carolina, value 100000. insur-
nee $28.500. State Normal ana In
lustriaI ollege, value $240, 900, insur-
nee $112. .037.37. a. & Nj. College at
Raleigh value $225000 insurance
1Q4, $50. a. & NJ. College (colored)
.alue $4,000, insurance $51,425.
Blind Institution (white) at Raleigh
-alue S120,000 insurance 100000. p
nd d. and Bling Institution (colOredl
-alue $55. 1000, insurance $4,000. D
nd d. Institution at MorgantOn, value
10000, insurance $4,000. State
Tospital at Raleigh. value 100000
! Insurance $4S,850. State Hospital al
| Horganton, value $920,0000. insurance
| 100000 State Hospital (coIored) al
| Eoldsboro. value 100000. insurance
! 'S4,700. Total value $5,180,000. Tota'
! insurance $S57,737.37.
| The total receipts of the Department
! or the year were $1S4,007.44.