The Pamphlet Collection of Sir Robert Stout: Volume 47
Summary for Nine Years of Fire Insurance in Canada
Summary for Nine Years of Fire Insurance in Canada.
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.
Canadlan Companies | $26,870,224 |
British | 19,349,204 |
American | 39,468,475 |
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:—
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.—