414 Fire Insurance ies in 1886, CHAPTER XIV. INSURANCE. PART I.-FIRE INSURANCE. 660. During the year 1886 the business of fire insurance compan in Canada was carried on by 30 active Companies; of these 6 were Canadian, 19 British and 5 American. Inland Marine and Ocean Marine Insurance were also transacted by 5 of them (3 Canadian, 1 British and 1 American). This list of Companies differs from that of the previous year, by the addition of one American Company, viz., the Connecticut Fire Insurance Company of Hartford, Conn., and since the close of 1886 two additional British Companies, the Atlas Assurance Company and the Employer's Liability Assurance Corporation (Limited), have been licensed, the latter for the transaction of fire re-assurance and the former for the transaction of fire insurance generally. Premiums received paid 1886. 661. The cash received for premiums during the year, in and losses Canada, amounted to $4,932,335, being greater than that received in 1885, by $79,875; and the amount paid for losses was $3,301,388, exceeding that paid in 1885, by $622,101, The ratio of losses paid to premiums received is shown in the following table: Premiums received 662. The following table shows the amount received for and losses premiums, and paid for losses, as well as the percentage of paid 1869- losses to premiums, in every year from 1869 : 1886. PREMIUMS RECEIVED AND LOSSES PAID IN CANADA, 1869-1886. received 663. The total amounts for the whole period were divided Amounts among the companies according to their nationalties, as and paid, follows: by companies. If the year of the fire in St John had been excluded, the average percentage of loss would have been 64.64. 664. The next statement shows the business done by the Fire in several companies during the year 1886: surance business 1886. done by British 665. The business done by the British fire companies Business resulted in a balance in their favour of $237,216, being a comdecrease of $437,763 as compared with 1885, as shown by the following statement: panies. The business of the last 12 years, 1875 to 1886, has resulted in an excess of payments over receipts of $17,305, but this adverse balance is due to the disastrous fire at St. John, 1877, where the losses paid by the British companies amounted to four and one-half millions. It appears certain that another year will see the balance reversed. 666. The following is a comparative statement of business done by American companies in 1885 and 1886 the By Ameri- panies. can com Balance in favour....... 667. A similar comparative statement of the business done By Canaby Canadian companies is found below: dian companies. Proportion of payments 668. For every $100 received for premiums, the payments to receipts by British and American companies therefore, were as by Brirish and Amer- follow: ican companies. By Caua dian companies. British.......... 56:14 67.90 24.05 25.24 The business it will be seen was not nearly so favourable in 1886 for either class of companies, but more particularly for British ones. 669. For every $100 received for income by Canadian companies, the payments were :— Inland Their total cash income in 1885 was $3,212,577 and in 1886 $3,230,074, and their cash expenditure was in the same years $3,003,033 and $3,170,051 respectively. 670 The inland marine insurance business did not commarance. pare at all favourably with that of the preceeding year, the losses incurred having been 68:54 per cent. of the premiums received, as against 50-99 per cent. in 1885. Ocean marine 671. The ocean business was equally unfavourable, the Insurance. proportion of losses to premiums having been 82:43 and 68.87 per cent. in 1886 and 1885 respectively. |