Evening journal., 1922-01-17
CONTINENTAL.
LIFE ADVANCES
Shows Gain in Business Past
Year Over 1920, Despite
Depression
HALF OF ASSETS IN
GOVERNMENT BONDS

Notwithstanding the general busi-
ness depression. the Continental Life
Insurance Company OF this city.
shows a substantial gain in business I
during 1921. according 10 the four
teenth annual report OF Philip Bur /
net, president. which was printed /
in the advertising columns OF The /
Evening Journal yesterday. while |
reports OF large percentage OF in
suranoe companies indicate a de- |
crease OF about ~ per cent. in busi-
ness written In 1921. compared with
1920. the Continental Life shows a
gain OF three per cent in business
written In 1921 over 1920's business. I
The company also Is revealed In a
remarkably strong financial position
by President Burncts statement.
with a margin OF assets in excess OF
liabilities nearly ten times as great
as the average and with the quality
Of the assets unusually high. The
outstanding advancement and fnan-
cial condition OF the company is
commented on in an article in The
Economic World, which in the
course OF an analysis, says;
For those who have followed at
/ tentively the work OF President Bur
net and his associates in the earlier
years OF the company's life. and have
observed with what skill and pru-
dence they provided the company
with an unshakable foundation upon
which a life insurance structure OF
any magnitude might later be rear
ed. there Is OF course no cause for as
tonishment at the past years
achievement OF the institution.
The new .paid-for life insurance
written by the Continental Life In
surance Company In 1921 agrre-
gated s7,333.16s. as compared with
S7,1Os,141 OF new Insurance written
in 1e20,--a gain for 1921 OF f225.-
OF. or approximately 3 per cent
] At Il Is now estimated. on the basit
OF the figures reported by a large
percentage OF the life Insurance COM
panies for the first eleven months OF
1921. that the total now business
written in 1921 by all the life com
panies in the United States will prove
to have been something like N per
cent smaller than that written in
. 1920, II will be seen that tho past
years record Of the Continental Life
Insurance Company in this regard is
81 not far from 90 per cent better than
81 that OF the entire body OF American
life insurance institutions. Enjoy
E ing this proportionally large volum'
OF new business in 1921. the com
pany's life insurance in. force rosl
sharply during the year, standing OF
December 81. 1921. at s35.377.755
as compared with 31.573.9SS on De
cember 81 1920.-the gain for IN,
twelve month being s3.SO3.765. OF
approximately 12 per cent From
these figures II may be deducted
that the company's total loss in out
standing insurance through termin-
ations OF policies by reason OF deaths
policies by reason OF deaths. matur-
ing endowments,. cancellations and
lapses OF policies. etc. was f3.529.-
403; or. 10 put II in another way
that OF the total new business writ
ten in 1921. about 4s.1 per cent. was
required to offset the Termination
OF policies for the causes just men
toned and about 51.9 per cent. re-
mained as net addition 10 the in
surance In force, This is an excellent
record for a year OF such economic
vicissitudes as 1921.
Turning now to the financial po-
sition OF the company IL should be
noted at the start that the balance
sheet as OF December 81, 1921. show,
no departure from the policy which
President Burnet has held TO reso.
lutely from sthe time when the com
pany was organized. namely that ol
maintaining an excess Of assets ovei
liabilities FAR exceeding any proper
lion that is usual in the conduct o.
life insurance companies in this o.
any other country. At the end o
1921 we md the total admitted as
sets OF the company standing at 50
56O.212. or 143 per cent. OF It's tota
, liabilities; and, conversely, the TO
/ .ai liabilities standing at s3,195.10
liabilities. and conversely. the to
, A. the end OF 1920 the total asset
we're s3916.S56 and the total liabili
ties we're S2,5S9.21s. so that the in
crease in the assets during 1921 wa
l. S643.356 and the increase In the Tia
It blities was s6O5.SS2. Accordingly
= the present annual statement show
X an excess over liabilities in IN
e amount OF s1.365.112. whereas
n year ago the excess was si,327,63s
e '1t is OF interest to note that o
-e the excess OF assets shown by IN
balance-sheet OF December 81, 1921
an excess which Of course in Il
s surplus to pollcyholders,-the car
j. ital stock Is represented by s651,0l
and the surplus proper is s714,1o2