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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
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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 |