Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-08-10
HOME INSURANCE COMPANY PASSES
SIXTH MILESTONE OF Achievement
Honolulu Concern in Less Than
Decade FORCES to the Front
as Substantial and Progress
SiVe Institution

Home industry" has the pulling
power Of sound business and striking
sentiment, and that is the kind of
business and sentiment which is be-
hind the Home Insurance Co. of Ha-
waii, Ltd, which today celebrates its
sixth birthday and six years of
achievement
! In less than decade this company
has won its way to the standing of
a substantial institution among the
progressive houses of the territory.
With homegrown" agents and other
staff members familiar with condi-
tons here and each with large circle
! Of friends, and with advantageous con-
nections abroad, the company oc;
cupies a uniquely strategic position
to get and hold insurance in every
line.
+ Furthermore, it IS a promotion as
set for the territory, and its work
along this line, with a promotion en-
! thuiast, Zeno X. Myers, treasurer and
manager, gives it a wider sweep and
greater effect than merely in bust
ness. 1t is rendering community ser
| vice.
| The history of the Home Insurance
CO. makes interesting reading from
the fact that when the company was
started some siS years ago the gen
eral impression among the insurance
fraternity seemed to be that a local
company could not exist and some Of
the wisest ones predicted a complete
failure within a few months.
This company has certainly con-
fronted many insurance problems,
particularly the handicap of under.
writing in such a limited territory.
These problems have been solved with
very large and liberal insurance
treaties whereby the excess is taken
care Of, the Home retaining a limited
proportion consistent with their un-
derwriting policy.
An analysis of the figures as filed
with the insurance commissioner Of
this territory Of business for 1916
shows premiums Of $52,563.13 with
reinsurance Of 27,069.48, the net re-
tentions Of the Home" being less
than one-half Of the business written.
Under new arrangements, however,
whereby the Home" will exchange
business with other agents, a more
extensive distribution of risk can be
effected and the Home" income will
be largely increased. This new ar
rangement is extremely gratifying to
the management Of the Home Insur-
ance Co. and will enable the company
to carry out to the fullest the slogan
Of Keep the money at home"
Arrangements are now completed
for writing every line of insurance,
including explosion and bombardment,
the last additions to this company's
treaties having been recently arrang-
ed whereby the Home Insurance Co.
has protection up to 100000.
A very large part Of the business
Of the Home Insurance Co. Is the
general agency Of the Western States
Life Insurance Co., now recognized as
the leaders of life insurance in the
West. An examination of the 1917
edition of the Spectator shows 215
legal reserve life insurance companies
and discloses the fact that the West
ern States made greater gain in
paid-up insurance in 1915 than was
made by 154 Of such companies
OF the so companies whose gains
were greater than the Western States
Life during such time six owed
greater or less part of their business
to their re-insuring other companies
going out of business. The average
age Of the six companies whose gains
exceeded the Western States is about
IS years against less than seven years
for the Western States. Could any
more convincing proof of the growth
of the Western States be had than
the above?
This company through the Home
Insurance Company has quickly won
a place at the top of the list of COM
panies writing business in this terri
tory and the liberal attitude of the
company as to war risks, agreeing tina.
for the present upon written request,
all present and future policyhoIders
whose contracts contain a war clause
will be given permission to engage in
military, naval or allied service for
the United States within the limits
of continental United States for a pc
riod of one year, no extra premium
being charged and in the event OF
the insured dying as a result, directly
or Indirectly, of engaging in such ser
vice the company will be liable for
the full face amount of the policy, and
the Western States Life Insurance
have raced the Territory of Hawaii |
as part of continental United States Of
America.
The Home Insurance Company soon
outgrew quarters at the corner of Fort
and King streets and now Occupies