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The Pamphlet Collection of Sir Robert Stout: Volume 47

Summary for Nine Years of Fire Insurance in Canada

page 64

Summary for Nine Years of Fire Insurance in Canada.

Year. Premiums received. Losses paid. Rate of Losses per cent, of Premiums. $ $ 1869....... 1,785,539 1,027,720 57 56 1870....... 1,916,779 1,624,837 84 77 1871....... 2,321,716 1,549,199 66 73 1872....... 2.628,710 1,909,975 72 66 1873....... 2,968,416 1,682,184 56 67 1874....... 3,522,303 1,926,159 51 68 1875....... 3.594 764 2 563 531 71 31 1876....... 3,708,006 2,867,295 77 33 1877....... 3,764,005 8,490,919 225 58 Totals....... 26,210,238 23,641,819 90 20 Can. Co's. 9,990.154 7,671,873 76 79 Brit. Co's. 13,891,958 13,936,542 100 30 Am. Co's. 2,325,126 2,033,404 87 45 26,210,288 23,641,819 90 20

Including the two Marine Co's. and the business of the mixed Co's. outside the Dominion and within, the total cash income of Canadian Co's. during 1877 was $3,737-680 (exclusive of $980,976, Capital Stock paid) and the expenditure, $4,915,764. For every $100 of income there was spent: Losses, $95.12; General expenses, $33.03; Dividends to stockholders, $3.37; Total, $131.52.

The British Co's. for every $100 of income spent: $297.71, losses and $21.79 expenses, and the American, $235.60 losses and $16.32 expenses.

The total amount of Insurance in force on December 31st, 1877, was $85,687,903 against $84,344,916 the preceding year. This was divided as follows:—
Canadlan Companies $26,870,224
British 19,349,204
American 39,468,475
In 1876 the amounts were:—
Canadian Companies $24,674,372
British 18,972,353
American 40,698,191

The annexed table shows the amount of Insurance effected during the respective years 1869-1877:— Years. Canadian Companies. British Companies. American Companies. Total. $ $ $ $ 1869.................... 1,156,855 2,627,392 9,069,885 12,854,132 1870.................... 1,584,456 1,657,493* 8,952,746 12,194,696 1871.................... 2,623,944 2,212,107 8,486,575 13,322,626 1872.................... 5,276,859 1,896,655 13,896,587 21,070,101 1873.................... 4,608,913 1,704,338* 14,740,367 21,053,618 1874.................... 5,259,822 2,143,080 11,705,319* 19,108,221 1875.................... 5,077,601 1,689,833 8,306,824 15,074,258 1876.................... 5,465,966 1,683,357 6,740,804 13,890,127 1877.................... 5,724,648 2,142,702 5,667,317 13,534,667 *Imperfect.

The amount of Insurance terminated during the year by natural causes was $1,072,867, and by surrender or lapse $11,138.960.

The amounts surrendered came to 60 per cent, nearly of the new insurances in the Canadian Companies, 68 per cent, in the British and 109 in the American. The number of policies in force at the end of the year were 50,830, and their amount $85,687,903, an average of $1,686 to a policy. As nearly as could be approximated the Superintendent gives the death rate at 7.27 per thousand in Canadian Companies, 14 17 in British and 9.26 in American, or 9.57 per thousand on an average of all the Companies. The total income of all the Companies from premiums received was $20,596,374, a decrease of $155,903 over 1876. This falls principally on the American Companies, their decrease being $137,888, the British decrease being $19,791, and the Canadian Companies showing a trilling increase of $1,776.

For the first time since 1870 the American receipts were less than the British and Canadian combined. The following tables show the condition of the different companies.—