Evening star., 1927-09-04

How America dominates the life in.
surance business Of the world is shown
by figures compiled by the Associa.
tion of Life Insurance Presidents,
with the cooperation of the Depart
ment of Commerce and other agencies.
The life insurance in force in the
United States and Canada is approx
mately three times as much as in all
the other countries Of the globe COM
bined, and the volume of life insur'
ance written this year and next in
the United States and Canada will ex-
ceed the amount in force in the rest
of the world put together.
The comparative figures cover 1924.
the most recent year for which the
data could be obtained. At that time
there was approximately $90,000,0 ,000,-
900 Of insurance in force in the
world, OF which the companies OF the
two American countries held more
than SGT 900, 900 900, or almost three.
fourths. United States companies
held $63, 800, ,000. 900, over two-thirds Of
the world total, and Canadian COM
pariies So 500, 900, 900, or more than one
thirtieth. kE
At the close Of the calendar year
1926 the insurance in force OF the
companies Of the United States had
jumped to the amazing total OF
SS2, 500 ,00o. 900. and at the end OF the
current year 1t will undoubtedly ex-
ceed the world total in 1924. These
figures do not include Government
war risk insurance.
Companies Of the United Kingdom
In 1924 had policies aggregating S9,-
SOC. 900 900, over one.tenth of the
worlds amount, while those OF Aus
tralia and New Zealand. including
government insurance, held policies
totaling 81, 800, 100000.
In all, the companies Of the Eng.
disappearing nations afforded over
SIS, 900 000, 900 Of life insurance pro-
lection, which was more than five
sixths of all life insurance in force in
the world. Japanese companies had
on their books an equivalent OF So
400 ,000, 900; those of the Netherla nds,
| 1861 900 900; those of Sweden, $780,
100000; France and Germany, over
| $700 ,000, 900 each; Switzerland, Den
mark and Norway, nearly $400, ,000. 900
each; Italy, 1897, 100000. including
government insurance, and Brazil, Ar
gentina, Chile and Peru, combined,
over $550.000,0 900.
Russia Abolishes Life Insurance.
In Russia, 1t appears, there now is
| no life insurance, unless individuals
carry protection in companies In other
countries. When the Soviet govern.
nent came into power 1t took over all
the assets Of all life insurance com.
panies, it is stated. and put an end to
the business. Poland, formerly part
Of Russia, had companies with almost
| $12 900 900 in force in 1924.
China, with her huge population OF
| 400 900 900, seems to be without com.
panies having any material volume
of life insurance.
For some countries It was possible
to secure figures showing the insur.
ance written on their citizens by both
domestic and foreign countries. From
these data it Is found that the per
capita insurance, at the end of 1924.
carried by citizens of the United
States, approximated 1855; of Canada,
S428; of New Zealand, $2S6; of the
United Kingdom. S212; Of Australia.
$I16; of Switzerland, $1O9; Of South
Africa, $40, and of the Netherlands, $40.
The volume of insurance held by
| United States companies has increas.
ed almost tenfold in the last quarter
Of a century. In 1900 1t was $780,
| 140 900, in 1910 the amount had been
doubled, in 1920 1t had exceeded $42,.
| 900 O00, 900, and in 1928, as has been
stated, the total was over SS2,6OO,-
| 000,0 900.
The rate of growth for Canadian
| companies during the same period has
| been approximately the same. the in
crease being from $303, 600 900 In 1900
to $3,285 900 900 in 1924. Japan Is the
only other country that shows any.
thing approaching such growth. the
| increase there being from $116,O00 900
in 1905 to $2,400, ,000,000 in 1924.
| The British Isles, known as the
cradle Of all forms Of insurance, lag
| far behind the American pace in
| building up the life insurance busi-
ness. United Kingdom companies In
1900 held policies totaling $4,000,0 ,0OO,.
| 900, almost half as much as the total
for this country, but in 1924 the Brit
ish total had grown only to $S,50O,0OO o.
| 600, while the United States was al
most $64,000 100000. and the amount
of insurance per capita was consio-
erably less than 40 per cent or that
In this country.
Hard Shedding for Solicitors.
Why the country that originated
| life insurance and Is pre-eminent In
| marine. fire and other forms OF m
/ surance should make so little or life
insurance is an interesting question.
The answer Is that direct solicitation
of life insurance as it is practiced In
the United States and Canada Is prac.
tically unknown in England, except
in industrial insurance.
British conservatism, prejudices and
business customs make 1t hard sled
ding for solicitors-so hard, in fact,
that the United States companies
have withdrawn from England and
only q few Canadian companies are
still battling to break down the
barriers.
American methods of salesmanship
do not make hit in the mother
country and 1t is practically impos.
sible to use them. In the first place,