Statistics of Life, Fire and Marine Insurance Companies doing business in Canada in 1877.

(Continued from Year Book, 1878.)

Fire and Inland Marine Insurance Companies.

Thirty-one Companies were licensed for this business in 1877, the same as in the pre ceding year. No new companies were licensed during the year. Two Canadian Co's went into liquidation, the "Canada Agricultural" and the "Provincial," and the "Stadacona" declined any new business after the 28th June.

The following is a list of the Fire Insurance Cos. doing business in Canada at 30th June, 1878.

List of Marine Co's. Doing Business in Canada, 30th June, 1878.

List of Life Insurance Co's. doing Business in Canada, 30th June, 1878.

Companies which have ceased to transact New Business in Canada.

(Deposits to he applicable to existing Policies.)

The following table gives the condition at the end of 1877, of all the Canadian Stock Companies in reference to their surplus or impairment of capital:

Fire, or Fire and Marine Companies, at 31st December, 1877.

The estimated loss to Insurance Co.'s by the St. John Are was $6,600,000, of which $6,358,329 was paid at the end of year.

The Canadian Co.'s lost 134.70 per cent of their premiums, the British 295.71, and the American Co.'s 274.23. The Fire Insurance business done in Canada in 1877, is shewn by the following table taken from the Report of the Superintendent:

Fire Insurance Done in Canada, 1877.

The Atlantic Mutual Life Co. of Albany, is in the hands of a Receiver, $84,109 is in the hands of Receiver General in Dominion stock and interest.

The Provincial Insurance Co. Toronto, insolvent. There are in the hands of Receiver General Municipal Debentures $33,930, cash $16,229, interest collected $1,856.

The Canada Agricultural Insurance Co. Montreal, insolvent Deposited with Receiver General 42,300 municipal debentures accepted and 17,600 not accepted.

The Stadacona Insurance Co. Quebec, has ceased for the present to transact new business. Deposit $105,479 municipal debentures, $400 Dominion stock, $654 cash.

The report of the Superintendent of Insurance estimates the loss from fire throughout Canada in 1877, Including the great fire at St. John as not less than twenty millions of dollars. The insurance on these losses is estimated at between 8 and 9 millions.

The net amount of Fire Insurance at risk in Canada at the end of 1877, was $420,342,681 an increase of $15,734,501 in the year. This increase was entirely in British Companies. The premiums on the amount at risk were at the rate of $10.72 for every $1,000, as against $10.60, and $10.66 for 1870 and 1876. The premiums received during the year amounted to $3,764.05; the losses to $8,823,037 of which $8,490,919 were paid, being $25.58 per cent, of premiums.

By a comparison with the Tables of 1876, it appears that only three Co's., Agricultural Mutual, Anchor Marine and Quebec, showed any gain or improvement in 1877. All other Co's. suffered loss.

The following Table shows the Assets and Liabilities, Income and Expenditure at the close of the year 1877, of all Companies doing Fire or Inland Marine Insurance:—

Canadian Companies.

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.

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.—

Canadian Companies.

British and American Co's.—Income and Expenditure.

Life Insurance.

Thirty-seven Co's. transacted Life Insurance business in Canada in 1877, viz: 7 Canadian, 17 British and 13 American; but 4 British and 1 American had ceased to take new business, and 1 Canadian ceased to do so during the year. 3 British and 5 American Co's. gave notice of their intention to transact no new business after March, 1878. The new business of Life Insurance is being transacted by 6 Canadian, 10 British and 6 American Companies.

The following Table from the report presented to Parliament shows the business of the year.

Abstract of Life Insurance in Canada, for Year 1877.

Recapitulation for 1877.