Imperial Valley press., 1932-03-08
METROPOLITAN
MAKES RECORD
FOR INSURANCE

Total writings of $3,430, ,381 of
life insurance issued, reinstated and
increased during 193l-an amount
that exceeded not only the cores
ponding figure for 1890 but also
that for the record year of 1923
are contained in the report to the
board of directors of the Metropol-
itan Life Insurance cmopany by
Frederick H. Ecker, president of the
company.
Ecker also reported that divi-
dends were declared payable to
Metropolitan policy holders of $102,-
400,764 during 1882. This is the
largest annual declaration ever
made by life insurance company,
the amount passing the one hun
dred million mark for the first time
in history. This, he explained, was
owing to the increased duration
and volume of the company's bus
iness, the actual scale of dividends
remaining unchanged.
A third outstanding item of Eek
er's report was that policyholderS
and beneficiarieS were paid nearly
$3.50 100000 by the company in
1881, more than $300,000,000 of this
amount being paid to living policy
holders.
With assets of $3,590, ,653 the
Metropolitan is the largest financial
institution in the world. The in
crease in assets in 1881 was $780,
O93 1886.
The insurance company's income
during 1881 increased to within
striking distance of one billion
dollars, being $9O7,O93, ,87l, or ap-
proximately 100000 for each bus
mess day.
The report stated that the nearly
three and a half billion dollars of
life insurance written by the COM
pany during 1881 was divided as
follows: ordinary, $1,734, ,219;
industrial, 81, ,4O1, ,195,908, and group
(eXcluding increases), 1924, 1887 ,254.
1t was pointed out that the Met
ropolitan had $40 ,447 ,343,949 of life
insurance in force on December
81, 1881, and that this was more
than one-siXth of the total in all
United States companies combined.
This was divided as follows: Ordi-
nary, $9846, ,994,131; industrial, &c.
822.317171, and group, $2,776, ,032,-
CAT. In addition, there was acci-
dent and health, principal sum
benefit, $1519, ,460,528, and weekly
indemnity, $14,96,413.
The report showed $459, $3.50, ,242
was paid to Metropolitan policy
holders or their beneficiarieS in
1881, and that of this amount $751;
264, 1872 was paid in death benefits,
while the balance, $307 ,416,060, was
paid to living policyholders in the
form of matured endoWments, an
nuities, dividends, disability bene-
fits and surrender values.
A feature of the report was the
daily average of business done by
the Metropolitan during the year.
These were pointed out as follows:
"The daily average of the COM
panys business during the year was
2177 a day in number of claims
paid 1889 a day in number of
life insurance policies issued and
revived; $11,320,790 a day in life
insurance issued, revived and in
creased; $2,226,280 a day in pay
ments to policyholders and addition
to reserve, and $924,4O2 a day in
increase in assets"
The total dividends of $102, ,400,76
for payment in 1882 represents an
increase of nearly $8000,000 over
the dividends declared by the COM
pany year ago.
Ecker stated that the company
had paid in bonuses and dividends
to its policyholders, including the
declarations for 1882, a total
amounting to $723,377 ,180, which
was divided as follows: to industrial
policyholders 1857 ,234 ,52S; to ordi-
nary policyholders $357,02l 900; and
to accident and health policyhold-
ers $9,120,752.
The Metropolitan is represented
in El Centro by Guy A. Beynon,
district manager for Imperial coun-
ty.