Life Ensurance Rates. ANNUAL PREMIUM RATES OF PRINCIPAL LIFE INSURANCE COMPANIES.* COMPANIES. Age 20-PAYMENT LIFE POLICY. 76.72 63.9 77.97 27.68 77.47 28.09 19.5 24.18 32.76] 78.09 28 28 19.34 23.96 32.48 47 99 77.47 28.09 32.67 41.06 20-YEAR ENDOWMENT POLICY. Age Age Age Age Age Age Age 60. 21. 60. 50. 40. 30 21. 60. 74.25 $28.52 833.40 41.34 $53.91 877.17 $48.10 $48.97 $51.37 $57.72 $79.85 28.09 3.98 41.18 54.98 81.09 77.47 28 08 32.95 41.00 54,43 22.83 26.83 33.40 44 37 28.17 32.62 39.77 51.54 24.9 30.19 38.82 53.83 79.24 56 17 29.84 34.76 42.79 29 18 34.02 41.92 55.14 80 25 28.64 33.69 42.00 55.56 77.97 55.22 Age Age A Age 49.54 50.74 53.69 61.75 65.09 42.17 42.81 44.66 50.46 67.03 48.97 49.64 51.62 57 89 45.94 47.06 50.88 60.18 50.07 51.31 54.31 62.84 28.42 35.37 19.53 19.12 23.75 32.16 47.23 76.83 27.90 32.88 41.11 78.09 19.18 23.77 32.18 47 27 75.75 18.90 21.50 32.20 47.90 77.70 48.48 77.69 14.72 18,28 24.75 36.36 58.27 can, 3% per cent.. 13.77 17.19 23.50 34.991 56.83 46.95 68.83 41.90 23.48 27.19 33.14 42.95 21.06 24.71 30.75 40.82 59.85 48 67 49.97 53.03 61.09 82.13 49.41 51.921 54.01 61.69 48.96 50 2 53.46 61 93 49.51 50.74 53.69 61.75 .. 61 54 89.85 58.00 49 73 50,96 53.98 62.15 83.87 40.81 41.37 43.01 48.24 *For $1,000 at maturity of policy. Non-participating rates. The rates for intermediate ages can be approximated by comparison with the rates stated. The variation in the rates is due to the fact that the policy conditions (surrender values, Incontestable clauses, etc.) are more liberal in some companies than in others, and because some have employed a 4 per cent. basis for the calculation of their premiums, while others have used 3 or 3 per cent. The rates for assessment and fraternal organizations are lower than those given above, but being dependent upon the mortality experienced each year, they are variable and subject to constant change. The above table of Annual Premium Rates was prepared for THE WORLD ALMANAC by S. Herbert Wolfe, Consulting Actuary, New York. Any new kinds of policies issued in 1908 will involve a different classification of rates. Life Ensurance Progress in the United States. IT is within the past sixty years that the vast business of life insurance in the United States has been developed. The experimental stage was ended and the era of advance was opened when, in 1843, the Mutual Life Insurance Company of New York began business, its first policy having been issued on February 1 of that year. Since then a large number of life insurance companies have been established. The following list inclu les those now transacting business which had their inception between 1843 and 1860 inclusive, arranged according to the date of the first policy issued: Mutual Life Insurance Company, 1843, February 1; New England Mutual Life Insurance Company (1), 1844, February 1; New York Life Insurance Company, 1845, April 17; Mutual Benefit Life Insurance Company (2), 1815, May 6; State Mutual Life Assurance Company (3), 1845, June 1; Connecticut Mutual Life Insurance Company, 1846, December 15; Penn Mutual Life Insurance Company, 1847, June 25; Union Mutual Life Insurance Company, 1849, October 1; National Life Insurance Company of Vermont, 1850, February 1; United States Life Insurance Company, 1850, March 4; Etna Life Insurance Company, 1850, August 1; Manhattan Life Insurance Company, 1850, August1; Massachusetts Mutual Life Insurance Company, 1851, August 2; Phoenix Mutual Life Insurance Company, 1851, September 11; Berkshire Life Insurance Company (4), 1851, October 27; Northwestern Mutual Life Insurance Company, 1858, November 25; Equitable Life Assurance Society, 1859, July 28; Washington Life Insurance Company, 1860. February 2; Home Life Insurance Company, 1860, May 1; Germania Life Insurance Company, 1860, July 16, How life insurance has progressed since the early part of 1843 is shown in the subjoined table by periods of years as indicated, assessment insurance not being included. Life Insurance Statistics. CONDITION OF RECULAR LEGAL RESERVE COMPANIES JANUARY 1, 1907, AND BUSINESS THE PRECEDING YEAR.* 1:8 $2,924,253,848 9526,594,898 $667,185,592 $297,325,6-9 8426,861,363 5,111,704 2,081,841,718128,634,352 $13,706,797,78 CONDITION AND BUSINESS OF ASSESSMENT COMPANIES AND ORDERS. 717 $76,502,396 8106,240,824 $119,826,958 $87,295,720 $104,071,238 +1,500,000 $1,238,150,605 7,503,737 $8,718,301.306 Including industrial policies. † Estimated. The returns of life insurance in the first three tables were compiled from "The Insurance YearBook," published by The Spectator Company. INCOME AND DISBURSEMENTS FOR TWENTY YEARS. The following table shows the receipts and disbursements of the old-line" life insurance companies reporting to the New York Insurance Department for twenty years: ASSETS OF AND AMOUNT INSURED BY THE PRINCIPAL AMERICAN COM LIFE INSURANCE IN VARIOUS COUNTRIES. Insurance In force, United States (including assessment insurance), 822,425,099,090; Great Britain, $4,426,124,000; Germany, $1,400,000,000; France, $760,000,000; Austria, $370,621,530; Scandinavia, $130,000,000; Switzerland, $70,300,250; Russia, $47,925,979. LIFE INSURANCE STATISTICS-Continued. RECEIPTS AND DISBURSEMENTS IN 1906 OF COMPANIES REPORTING TO THE NEW YORK INSURANCE DEPARTMENT. 414 Fire Insurance Statistics. CONDITION AND TRANSACTIONS OF COMPANIES DOING BUSINESS IN THE UNITED STATES YEAR ENDING JANUARY 1, 1907. Capital. Assets Exclusive of Net Surplus. Premium Notes, 884,290,590 8554,331,113 $176,942,570 NUMBER OF COMPANIES, 374 Stock*. 257 Mutual.. NUMBER OF COMPANIES. Paid for Losses 374 Stock 257 Mutual.. $278,173,623 Cash Premiums Re- $301,038, 893 Total Disburse- Total Cash Income Risks Written Expenses other than Paid for Dividends Losses and Dividuring Year. dends during Year. $24,211,689 $104,498,039 $406,883,351 +$30,000,000,000 *Including 35 Lloyds † Approximation. These statistics of fire insurance business in the United States are, with the exception of the estimate of risks written during the year, compiled from The Insurance Year-Book," published by The Spectator Company. They do not include the returns of a few stock companies and some 500 mutuals and town and county mutuals, whose transactions are purely local and individually of small volume. CONDITION OF THE PRINCIPAL JOINT-STOCK COMPANIES DOING Home, New York. Continental, New York. N. British & Mercantile. Queen, New York. Pennsylvania Fire.. American, N. J. Connecticut Fire. 3,945,388 707.341 931,093 3,758.676 300,000 1,011,275 $20,839.174 $3,000,000 $7.408,355 Fireman's Fund, Cal. 84,124,190 ,6,505,637 1,000,000 1,094,933 Franklin, Pa..... 942,226 827,816 2.759,179 500,000 453,787 2.559,647 500,000 154,904 2,521,649 500,000 377,796 2,521,625 1,000,000 252,992 2,493,155 200,000 483,990 2,491,576 400,000 315,171 2,441,320 200,000 650,600 2,342,872 250,000 764,094 2 338,450 500,000 465,308 2,319,585 +200,000 406,029 200,000 1,470,214 2.261,532 200,000 463.551 527,225 876,522 2,067,333 400,000 157,554 2,057,943 500,000 260,362 1,987,946 500,000 350,405 1,959,686 † 200,000 633,181 1,934,485 400,000 75,730 1,864,662 400,000 137,891 • Annual statements of the fire insurance companies are rendered to the insurance departments during the month of January; therefore the statistics of condition January 1, 1908, were not ready when this publication went to press. + The New York law requires a deposit of $200,000 from foreign companies with the insurance department. This is treated by the department as deposit capital," and the surplus stated in the next column is surplus beyond deposit capital" and other liabilities. ANNUAL PROPERTY LOSSES IN THE UNITED STATES BY FIRES-1876-1907. Date. Great Conflagrations IN THE LAST AND PRESENT CENTURY. Location. 1833-Dec. 16 NEW YORK-674 houses and warehouses, including Merchants' 4 HAMBURG-The number of streets burned through was 61; 1846-June 9 ST. JOHN'S, N. F.-Nearly the whole of the town destroyed.. Loss. $17,500,000 4,000,000 35,000,000 7,500,000 5,000,000 15,000,000 1848-Aug. 17 3,000,000 1849-May 18 ST. LOUIS-About one-half the business portion of the city destroyed 3,000,000 1851-May 3 SAN FRANCISCO, Cal.-2,500 houses burned. The fire ex- 3,500,000 MONTREAL-A large part of the city destroyed. Some 15,000 5,000,000 1852-July 8 1852-Nov. 12 SACRAMENTO CITY, Cal.-About 2,500 buildings destroyed. The city almost entirely burned up. 1861-Dec. 12 CHARLESTON, S. C.-A considerable portion of the city destroyed 4 PORTLAND, Me.-A cracker thrown by a boy during the 1866-Oct. 16 QUEBEC-2,500 houses and 17 convents and churches burned; 5,000,000 10,000,000 5,000,000 10,000,000 3,000,000 YOKOHAMA, Japan-Tremendous conflagration in the Euro- 3,000,000 25,000 barrels, burned 3,500,000 1869-Aug. 4 PHILADELPHIA-Patterson's whiskey stores, containing over 1870-June 1871-Oct. 5 CONSTANTINOPLE-The greater part of Pera was destroyed, including the English Embassy and about 7,000 houses.. 8 CHICAGO-This fire destroyed 18,000 buildings, covering an area of nearly five square miles... BOSTON-This fire broke out on a Saturday afternoon and is regarded as the third largest in modern history. In less than 48 hours it reduced to ruins 748 houses, including many of the largest business blocks in the city, covering some 60 acres, including the old post-office and old Trinity Church.... 1874-Feb. 12 LONDON-The Pantechnicon, Belgrave Square. 1874-July 14 CHICAGO-The buildings destroyed were the New Post-Office, five hotels, four chapels, two theatres, etc., extending over a district of 60 acrés.. 1875-Oct. 26 VIRGINIA CITY, Nev.-This city, forming the centre of one of the richest mining districts in the United States, burned. The machinery of many of the mines seriously damaged... 1875-Oct. 27 IQUIQUE, Peru-This fire was discovered at 2 A. M., and be 25,000,000 165,000,000 70,000,000 9,250,000 4,000,000, 7,500,000 1876-June 18 1876 Sept. 3 fore noon three-fourths of the city had vanished. 5,000,000 east side of 6,000,000 15,000,000 1877-June 20 ST. JOHN, N. B.-This fire began in a boiler shop in the Portland suburb, and extended over an area of 600 acres. Loss of life estimated at 100.. 15,000,000 1882-Dec. 11 KINGSTON, Jamaica-This fire started on the wharves along 1889-June 10 1889-Nqv. 27 the river. Thousands of people were rendered homeless... 10,000,000 6,626,000 5,000,000 1892-July 8 ST. JOHN'S, N. F.-600 buildings 1897-Nov. 19 LONDON-Cripplegate, 122 warehouses 1900-April 27 OTTAWA, Hull, Ontario 25,000,000 MILWAUKEE, Wis.-General fire 5,000,000 22,000,000 5,000,000 10,000,000 1900-June HOBOKEN, N. J.-Dock property, merchandise and steamers. 4.627.000 1901-May 3 JACKSONVILLE, Fla-General conflagration 10,050,000 1902-Feb. PATERSON, N. J.-456 buildings.. 5,817,305 1904-Jan. 23 AESLAND, Norway-Entire town, built of wood, destroyed. 1904-Feb. 7 BALTIMORE-Over seventy blocks and 2,500 buildings were 6,000,000 totally destroyed 50,000,000 1904-April 19 TORONTO-Three and a half blocks destroyed. 12,000,000 1906-April 18 SAN FRANCISCO, Cal.... 350,000,000 |