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The Pamphlet Collection of Sir Robert Stout: Volume 47

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

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

Subscribed Capital. Capital paid up, or in course of collection. Surplus over all Liabilities including Capital. Impairment of Capital. Reserve of subscribed Capital. $ cts. $ cts. $ cts. $ cts. $ cts. British America............ 500,000 498,090 00 127,479 45 ............ 1,910 00 Canada Agricultural..... 1,000,000 223,245 00 ............ 380,155 76 776,755 00 Canada Fire............ 1,000,000 100,200 00 ............ 104,363 49 899,800 00 *Citizens................... 1,188,000 237,600 00 ............ 242,119 90 950,400 00 Isolated Risk 600,000 60,000 00 ............ 50,436 15 540,000 00 National.............. 700,300 197,123 93 ............ 172,728,69 503,176 07 Ottawa Agricultural...... 674,450 67,885 00 ............ 88,653 45 606,565 00 Provincial............ 174,660 122,428 46 ............ 144,459 68 52,236 54 Quebec............ 1,000,000 319,828 50 1,190 77 ........... 680,171 50 Royal Canadian......... 5,995,650 1300,000 00 141,533 62 ............ 4,896,085 00 Stadacona............ 2,300,000 723,885 17 ............ 602,288 50 1,576,114 83 Western............... 800,000 400,000 00 279,370 81 ............ 400,000 00 Marine Companies. Anchor Marine............ 476,400 48,958 05 34,215 05 ............ 427,441 95 Merchant's Marine...... 500,000 100,000 00 ............ 5,647 57 400,000 00 *This is on the whole business, including Life. † This is the amount of capital paid up, as reduced by their special Act of Parliament. The total amount paid up has been, in cash $1,062,117 50, and In secured notes, $37,447.50. The subscribed capital may be reduced to $2,000,000, as provided by the aforesaid Act.

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:

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Amount of Risks taken during year. Premiums charged thereon. Rate of Premiums charded per cent, Risks taken. Cash paid during year for losses. Cash received during year for Premiums. Rate of Losses paid per cent, of Premiums received.

Fire Insurance Done in Canada, 1877.

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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:—

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