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490 Document No. 10. [Session
STANDARD LIFE AND ACCIDENT INSURANCE COMPANY
OF MICHIGAN.
Incorporated May 29, 1884. Commenced Business August 1, 1884.
D. M. Ferry, President. E. A. Leonard, Secretary.
Home Office, Griswold Street, Detroit, Michigan.
CAPITAL STOCK.
Amount of capital paid up in cash, $250,000.00.
Amountof ledger assets (as per balance) December 31 of previous year -$ 1,328,914.63
Gross Premiums
Unpaid Decem-ber
31 last year.
Accident $ 170,908.23 $
Health 25,825.79
Liability-— 54,812.52
INCOME.
Gross Premiums
written and re-newed
during
the year.
1,050,755.40 $
120,801.32
737,765-80
Deduct Gross
Premiums now
in course of
Total. collection.
1,221,663.63 $ 176,055.12
146,627.11 34,774.92
792,578.32 81,647.47
Total- -$ 251,546.54 $ 1,909,322.52 $ 2,160,869.06 $ 292,477-51
Deduct Re-in-surance,
Re-
Entire Premiums turn Premiums Net Cash actu-
Accident -
Health
Liability
collected during
the year.
1,045,608.51
111,852.19
710,930.85
and
Cancellations.
ally received
for Premiums.
263,994.38 $ 781,614.13
25,739.20 86,112.99
65,665.76 645,265.09
Total - 1,868,391.55 $ 355,399-34 $ 1,512,992.21
Total net cash actually received for premiums -
Interest on mortgage loans
Interest on bonds and dividends on stock
Interest from all other sources
Gross rents from company's property
26,164.29
32,142.86
2,315.12
28.65
Total interest and rents
Profit on sale or maturity of ledger assets : On real estate sales
From all other sources
DISBURSEMENTS.
Accident
Health —
Liability -
Gross Amount
paid for
Losses.
$ 352,512.16
35,186.32
229,480-15
Deduct Salvage
and Re-insur-ance.
$ 2,463.37
161.50
Net Amount
paid Policy-holders
for
Losses.
350,048.79
35,186.32
229,318.65
$
$ 617,178.63 $ 2.624.87 $ 614,553.76
1,512,992.21
60,650.92
1,200.00
1,137.34
Total income $ 1,575,980.47
Sum of both amounts $ 2,904,895.10
Investigation and adjustment of claims, including legal and other expenses in defense
of suits against policy-holders, viz.: Accident, $7,672.59; Liability, $47,860.32
614,553.76
55,532.91
Object Description
Description
| Title | Page 1152 |
| Full Text | 490 Document No. 10. [Session STANDARD LIFE AND ACCIDENT INSURANCE COMPANY OF MICHIGAN. Incorporated May 29, 1884. Commenced Business August 1, 1884. D. M. Ferry, President. E. A. Leonard, Secretary. Home Office, Griswold Street, Detroit, Michigan. CAPITAL STOCK. Amount of capital paid up in cash, $250,000.00. Amountof ledger assets (as per balance) December 31 of previous year -$ 1,328,914.63 Gross Premiums Unpaid Decem-ber 31 last year. Accident $ 170,908.23 $ Health 25,825.79 Liability-— 54,812.52 INCOME. Gross Premiums written and re-newed during the year. 1,050,755.40 $ 120,801.32 737,765-80 Deduct Gross Premiums now in course of Total. collection. 1,221,663.63 $ 176,055.12 146,627.11 34,774.92 792,578.32 81,647.47 Total- -$ 251,546.54 $ 1,909,322.52 $ 2,160,869.06 $ 292,477-51 Deduct Re-in-surance, Re- Entire Premiums turn Premiums Net Cash actu- Accident - Health Liability collected during the year. 1,045,608.51 111,852.19 710,930.85 and Cancellations. ally received for Premiums. 263,994.38 $ 781,614.13 25,739.20 86,112.99 65,665.76 645,265.09 Total - 1,868,391.55 $ 355,399-34 $ 1,512,992.21 Total net cash actually received for premiums - Interest on mortgage loans Interest on bonds and dividends on stock Interest from all other sources Gross rents from company's property 26,164.29 32,142.86 2,315.12 28.65 Total interest and rents Profit on sale or maturity of ledger assets : On real estate sales From all other sources DISBURSEMENTS. Accident Health — Liability - Gross Amount paid for Losses. $ 352,512.16 35,186.32 229,480-15 Deduct Salvage and Re-insur-ance. $ 2,463.37 161.50 Net Amount paid Policy-holders for Losses. 350,048.79 35,186.32 229,318.65 $ $ 617,178.63 $ 2.624.87 $ 614,553.76 1,512,992.21 60,650.92 1,200.00 1,137.34 Total income $ 1,575,980.47 Sum of both amounts $ 2,904,895.10 Investigation and adjustment of claims, including legal and other expenses in defense of suits against policy-holders, viz.: Accident, $7,672.59; Liability, $47,860.32 614,553.76 55,532.91 |
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