GrA REPORT OF THE INSURANCE DEPARTMENT OF THE STATE OF GEORGIA FOR THE YEAR ENDING DECEMBER 31 1921 DiekersonWright Printing Co Atlanta REPORT OF THE INSURANCE DEPARTMENT OF THE STATE OF GEORGIA FwR THE YEAR ENDING DECEMBER 31 1921 INSURANCE DEPARTMENT OF THE STATE OF GEORGIA Atlanta Georgia January 1 1922 To His Excellency Thomas W Hardwick Governor Sir In compliance with the law of the State of Georgia I have the honor to submit herewith the annual report of the In surance Departmentfor the year ending December 31 1921 The report here given shows the results of the operations of the several insurance companies associations and frater nal societies for the year as well as their financial condition at the close of the year In its preparation there has been no attempt to follow the detailed information of former years The business transactions have not been itemized as here tofore but we believe that all important or vital data con cewiing the business transacted and the financial condition of the companies has been set forth clearly and in such a way as to be more convenient of access than under the pre vious method of reporting and equally informative It is hoped that the change of form will prove acceptable to all interested If upon consideration it is decided to print the report in the tabulated form in which it is presented there will be a very considerable saving to the State in the item of printing expense from the cost of other years and if among those persons or insurance companies finding use for the volume there are some who need more detailed in formation than is available within its pages this may be had very quickly either by reference to the files of the Depart ment or by inquiry through correspondence the Department holding itself ready at all times to respond promptly to any request for information VOLUME OF BUSINESS In previous reports attention has been called to the steady and remarkable growth of the insurance business in Geor gia in which the year 1920 stood out as showing the great est gains of any one year in our history It was not to be expected in view of unsettled business conditions in 1921 that this years volume of insurance could approach that of 1920 yet in the three larger insurance groups fire life and casualty companies the two last named show only a slight decrease in premium income and no worthwhile difference in losses In the fire group however comprising fire ma rine and inland insurance the Georgia premium income for 1921 is almost 3000000 less than in 1920 while the losses have almost doubled the ratio of losses incurred on Georgia business to the premium income reported by this group being 10853 This ratio takes no account of general man agement costs license fees and taxes imposed all of which may be estimated as averaging about 50 of the amount of premium income Hence if we add this proper and Nec essary expense to the loss expense we realize that these companies have borne a tremendous load in connection with their 1921 Georgia business Never in the history of the Department have the fire losses in this State been as heavy as during 1921 and the report of the companies is to the effect that never has the moral hazard in connection with fire insurance risks appeared to be as great as during that period How much of this may be due to business depres sion it is of course impossible to tell but the fact remains that an enormous amount of property has been destroyed and the State and its honest citizens have suffered and are suffering accordingly by reason of such great destruction of capital It is a matter worthy of very serious considera tion to see if out of such experience some means of pre vention or the material lessening of such tremedous waste in the future can be found and adoptedThe tables given below summarize the business of the three larger groups of companies reporting to this Depart ment and make comparison of volume of business over a series of years No comparative tables have been made up in connection with the smaller groups industrial life and health assessment fire and fraternal societies but the financial statements submitted by these organizations and the examinations made by this Department show a steady development where the companies are properly managed and the volume of their business indicates the place they have in the affairs of the publicMM STATISTICAL REPORT Showing Business Transacted by Insurance Companies Li censed to Operate in the State of Georgia During the Year Ending December 31 1921 Also Financial Condition of Such Companies on December 31 1921 as Shown by Com panies Reports on File with the Insurance Department of the State of Georgia COMPARATIVE TABLE OF PREMIUMS LOSSES AND INSURANCE IN FORCE FOR THE YEARS STATED BUSINESS IN GEORGIA FIRE MARINE and INLAND and TORNADO COMPANIES Year Premiums Collected Losses Incu 1893 1691708 1043354 1903 3195426 1431333 1913 6326926 3215788 1914 5762395 3991983 1915 6301673 4216914 1916 7317288 6767414 1917 9070741 7227413 1918 11112442 3731860 1919 14104596 6157190 1920 15372301 7568350 1921 12507763 13567260 Losses Paid in 1921 12660933 LIFE INSURANCE COMPANIES Year Premiums Collected Insurance in Force 1893 2375244 69931265 1903 5298816 142672751 1913 11440520 367623921 1914 10629693 330082717 1915 11641564 362516698 1916 12706449 389975294 1917 14376912 433099247 1918 15800455 483927361 1919 18132020 576684308 1920 22788735 699068059 1921 22643057 654139220 Claims Paid in 1921 7667647 MISCELLANEOUS COMPANIES Year Premiums Collected Losses Paid 1903 122957 14333 1913 1653515 832971 1914 1639581 827347 1915 2430287 1517844 1916 1893341 832279 1917 3073238 971756 1918 3124705 1262424 1919 4914904 1867054 1920 4921820 2070874 1921 4877050 2373105 The foregoing do not include assessment industrial and fraternal organizations 7 COMPANIES LICENSED During the year 1921 classes and numbers of companies licensed to transact business in the State of Georgia were as follows Fire Marine and Inland and Tornado149 Life Legal Reserve g3 Miscellaneous Casualty Surety etc 56 Assessment Life and Accident 2 Local Industrial Life Health and Accident 12 Local Assessment Fire 13 Fraternal Societies 35 Total 330 ADMISSIONS IN 1921 Fire and Marine Companies Allemannia Fire Insurance Co Pittsburgh Pa American Automobile Insurance Co St Louis Mo Berkshire Mutual Pittsfield Mass London Provincial Marine General New York N Y Merchants Manufacturers Mutual Mansfield Ohio Merrimack Mutual Andover Mass National Mutual Celina Ohio Netherlands Fire Life Holland Chicago 111 Northwestern Fire and Marine Minneapolis Minn Ohio Hardware Mutual Coshocton Ohio Reliance Insurance Co Philadelphia PaRetail Hardware Mutual Minneapolis Minn Superior Fire Insurance Co Pittsburgh Pa Texas State Mutual Dallas Texas Washington Marine New York N Y Life Security Life Trust Co Greensboro N C Southern Insurance Co Nashville Tenn Miscellaneous Manufacturers Liability Ins Co Jersey City N J Union Indemnity Co New Orleans La Utilities Mutual Insurance Co New York N Y Zurich General Accident Liab Co Chicago 111 Withdrew without transacting business Local Assessment Fire American Liberty Cartersville Ga WITHDRAWALS IN 1921 Local Industrial Life and Health Brunswick Mutual Brunswick Ga Reinsured with Chatham Mutual Cherokee Life Rome Ga Reinsured with InterState Life and Accident Co 9 Fraternals Eminent Household of Columbian Woodmen Atlanta Merged with Columbian Woodmen of Mississippi EXAMINATION OF COMPANIES In compliance with the laws of the State which provide that the Insurance Commissioner shall within any fiveyear period examine or cause to be examined the affairs of the several insurance companies organized under the laws of Georgia special examiners appointed by the Department and reporting under oath to the Insurance Commissioner the financial condition of the companies examined with rec ommendations for consideration have examined and report ed upon the following companies during the year 1921 Life Industrial Life and Health Insurance Co Atlanta Atlanta Mutual Insurance Co Atlanta Fire Georgia Home Insurance Co Columbus Miscellaneous Georgia Casualty Co Macon FIRE INSPECTOR Your attention has been called heretofore to the valuable 10and untiring work of the State Fire Inspector in connection with the investigation of suspicious fires A comparative statement covering the past seven years will serve to show somewhat the scope of his work and its increasing impor tance as well as its enlarged volume 1915 Suspicious fires101 1916 Suspicious fires 85 1917 Suspicious fires 43 1918 Suspicious fires 34 1919 Suspicious fires 32 1920 Suspicious fires 20 1921 Suspicious fires 63 According to the report of the Fire Inspector on file with this department and briefly summarized herewith these sixtythree fires investigated resulted in prosecutions with the following results 31 indictments returned for arson Convictions 6 Acquittals 9 Cases pending 16 Arrests made no indictments resulting 4 Warrants issued no apprehensions to date 2 Investigations now in hands of Grand Jury 1 Investigations where no cases were made25 Total investigations 63 Report of the State Fire Inspector follows 11Atlanta Ga January 1 1922 Hon William A Wright Insurance Commissioner Atlanta Georgia Dear Sir As State Fire Inspector I have the honor to submit for your approval my condensed report for the year 1921this being my first annual report since my connection with this Department During the year I have made investigations of sixtythree suspicious fires over the State full reports of which are now in your hands and brief summary of which is attached Comparison with the work of other years shows an increase in investigations made of 112 per cent over the year 1920 and a 90 per cent increase over the average of the last four years The number of investigations given do not by any means represent the number of calls received by the office during the year there are so many demands that it is a physical impossibility to meet them all Necessarily each investigation takes a great deal of time The cases must be prepared for court and hearings and trials in court must be attended during which time I have no opportunity to take up new calls I am convinced that an assistant at such times would be of great service and would enable a more complete fulfillment of the duties of my office Following is a summary of the results of my investiga tions 1231 Indictments returned Convictions of Arson 6 Acquittals of Arson 9 Arson cases pending16 Arrests made no indictments 4 Warrants issued no apprehension to date 2 Invetigations in hands of Grand Jury 1 Investigations where no cases were made25 Total number of investigations63 Places visited and investigations made with results of the latter are as follows 1 Davisboro Ga December 16 1920 Unmistakable evidence of incendiarism but investigation by this Department and by Pinkerton Detective Agency failed to establish guilt of the accused or to ascertain the person responsible 2 Rome Ga January 4 Many suspicious circumstances in connection with this fire but trial resulted in acquittal of both parties involved 3 Mystic Ga December 30 1920 Investigation made January 8 1921 Not sufficient evi dence to convict or to warrant bringing any prosecution 4 Ocilla Ga December 11 1920 Investigation January 8 1921 Many suspicious circum stances indictment returned by Grand Jury charging ar son but defendant acquitted upon preliminary hearing 5 Attended court at Ocilla in connection with preceding case which was dismissed by the court 136 Doerun Ga January 7 1921 Thorough investigation failed to disclose sufficient evi dence to warrant prosecution 7 Dosia District Tift County August 25 1920 Reported for investigation January 30 Evidence in this case not sufficiently strong to warrant arrest on charges of arson 8 Central Avenue Tifton Ga October 10 1920 Report of investigation January 30th 1921 Evidence so strong in this case that arrests were made and indictments returned against three parties one trial resulting in acquit tal Other two cases pending No trial yet in these cases 9 Dosia District Tift County October 20 1920 Investigation reported January 30 1921 Same owner in volved as in property covered under Items Nos 7 and 8 but different property Evidence sufficiently strong to result in three indictments Still pending 10 Edgewood November 24 1920 Examination report January 30 1921 Men involved also involved in two preceding cases Evidence presented result ed in three indictments on which trials have not yet been had 11 Tifton Ga December 17 1920 Report February 10 1921 Property uncompleted and considerably overinsured but investigation failed to dis close sufficient evidence to warrant charges of arson 12 Final report of investigations on Willis properties Tift County on which three fires above mentioned occur red and in which the same individuals are involved Result as above mentioned Three indictments in each case one confession followed by acquittal other cases not yet tried 1413 Property near Brunswick Ga December 30 1920 Report February 22 1921 Evidence seemed to indicate fire of accidental origin 14 Douglas Ga January 16 and 19 1920 No evidence discoverable to warrant arrest 15 Sylvester Ga January 27 1920 No evidence discoverable to show incendiarism 16 Ocilla Ga July 11 1920 Report as to court proceedings February 4 1921 Evi dence presented resulted in verdict of acquittal in the prelim inary hearing 17 Tarrytown Ga November 5 1920 Report February 25 1921 Very strong evidence laid before Grand Jury no indictment to date 18 Athens Ga January 25 1921 Conflagration Much evidence but not of such nature as to sustain charge of arson 19 Near Canton Ga December 30 1920 Report March 28 1921 Evidence presented to Grand Jury no indictment returned 20 Doerun Ga March 10 1921 Not sufficient evidence to warrant charges 21 307 Peachtree St Atlanta Ga January 4 1921 Preliminary hearing resulted in bail of 3000 being sub mitted Defendant promptly jumped bail and is now a fugi tive from justice 22 Hazlehurst Ga February 20 1921 Grand Jury considered evidence presented and returned no 15indictment although examination of evidence seems to make a pretty strong case against the accused 23 Near Rome Ga April 3 1921 Evidence resulted in conviction of two boys who on trial were sent to the reformatory 24 Hartridge Street Savannah Ga January 26 1921 Investigation failed to disclose evidence of incendiarism 25 Collins Ga October 9 1920 Report April 16 1921 Investigation showed strong cir cumstantial evidence but solicitor general refused to act upon it 26 Lucius Siding Gilmer County February 26 1921 Investigation showed every evidence of incendiarism but guilty parties have not yet been found 27 Claxton Ga March 20 1921 No motive shown for arson although plenty of suspicion Grand Jury decided evidence insufficient to warrant an in dictment 28 Athens Ga April 11 1921 Strongest evidence of deliberate attempt to destroy but unable to ascertain the individual guilty v 29 23 Grant Place Atlanta Ga April 3 1921 Fire started simultaneously in several rooms with kero sene scattered all about property Impossible to fasten guilt upon any known individual 30 Villa Rica Ga April 20 1921 Property apparently used as illicit still and burned to de stroy evidence Unable to place guilt upon any particular individual 1631 25 Fortress Avenue Atlanta Ga April 2 1921 Confession obtained after investigation in this case In dictment returned trial and conviction followed resulting in five years in penitentiary 32 Adrian Ga April 6 1921 Investigation of this case failed to show sufficent evi dence to warrant arrest but led to evidence and arrest in connection with fire at Blackville near by a few days aft erwards Suspect is still in jail awaiting trial 33 Evans Ga January 9 1921 Report May 23 1921 Auto burning Evidence not suf ficient to warrant arrest 34 Gough Ga January 30 1921 Report May 24 1921 Unsuccessful in obtaining suffi cient evidence for prosecution 35 Fitzgerald Ga May 26 1921 Lockett Motor Car Co Considerable difficulty met in handling this case Appeared to be collusion between some city officials and individuals under suspicion Strongest evidence obtained and presented to Grand Jury but without being able to obtain indictment 36 Manville Carroll County Ga March 22 1921 Report June 2nd This and most of the other fires in this section during the past few months highly suspicious but utterly impossible to make successful investigation by reason of local feeling Successful prosecution impossible 37 Jasper Ga April 28 1921 Small fire suspicious origin but no evidence of incen diarism obtainable 38 Lexington Ga February 19 1921 Report June 10 By reason of unavoidable delay in reaching place all evidence removed prior to arrival Not possi ble to continue the investigation 39 Near Griffin Spalding County Ga June 12 1921 Investigation resulted in three indictments followed by trial leading to two acquittals and one sentence of seven years in penitentiary 40 Haralson County Ga March 12 1921 Report July 29 Two warrants issued one indictment and confession Trial not yet held second party fugitive from justice 41 Waynesboro Ga May 6 1921 Report August 19 Arson charge two arrests made pre liminary hearing resulted in acquittal 42 Sandersville Ga May 20 1921 Report August 20 Evidence obtained presented to Grand Jury six indictments returned followed by five arrests the sixth person now being fugitive from justice One case tried and acquitted remainder pending 43 Wigwam Hotel Indian Springs Ga August 20 1921 Suspicion of incendiarism but investigation failed to dis close evidence 44 Brown House Macon Ga August 22 1921 Investigation disclosed fire from accidental causes or care lessness not incendiarism 45 Broughton Street Savannah Ga Sept 6 1921 Manufacturing establishment Investigation resulted in two arrests for arson indictments by Grand Jury and trial followed by acquittal 46 Manchester Ga September 15 1921 Fire apparently grew out of trouble between A B and A 18strikers By reason of local conditions at that time impossi ble to obtain evidence 47 Collins Ga June 29 1921 Report October 20 Thorough investigation made but absolutely impossible to obtain evidence of incendiarism 48 Oak Park Ga May 17 1921 Report October 20 Apparently overinsured Many statements made by neighbors but no one willing to testify under oath and further investigation useless 49 Elbert County Ga September 8 1921 Report October 21 All indications pointed to incendiar ism but evidence sufficient to convict impossible to obtain 50 Aline Ga October 25 1921 Building and contents greatly overinsured Owner heav ily in debt Reports pointed to arson but sufficient evidence unobtainable 51 Statesboro Ga December 16 1921 Report October 27 Evidence pointed to guilt of two per sons Grand Jury indicted but cases were nol prossed before time for trial no reaosn given 52 Near Bainbridge Ga August 20 1921 Reported November 5 Simultaneous burning of three buildings on same property some distance apart Locality isolated Apparently no witnesses and no evidence could be discovered 53 272 Juniper St Atlanta Ga October 17 1921 Much suspicion but no means of establishing guilt 54 Hollywood Ga August 27 1921 Reported November 15 Statements of neighbors as to 19suspicious circumstances were proven to be without founda tion and fire shown to be of accidental origin 55 Twelve miles southeast of Forsyth Ga June 29 Report November 19 Many statements and assumptions some suspicious circumstances but no evidence to sustain belief as to incendiarism 56 Fort Valley Ga September 22 1921 Report November 30 Evidence discovered and presented in this case brought indictment and trial which latter re sulted in acquittal Reason for same according to state ment made by solicitor general and related to him by nine jurors being the advanced age of the accused and the dis inclination of the jury to render verdict which would result in sentence of five years or more in penitentiary Apparent ly no question of guiltmerely a matter of sympathy 57 Cairo Ga Cairo High School November 2 1921 Considerable suspicion attached to this burning and many statements made Thorough investigation failed to estab lish incendiary origin 58 Whigham Ga November 19 1921 Much evidence of deliberate action but statements ob tained in interviews are of little consequence and the evi dence obtained could not be verified sufficently to warrant presenting it to the solicitor general 59 Stanton Ala Quitman Ga October 15 1921 Report December 4th This investigation made at special request of State Fire Marshal of Alabama Property burned was in Alabama but persons involved had moved to Quit man Ga hence the necessity for visit to that point No information obtained to lead to establishment of guilt 60 Albany Ga November 21 1921 Investigation established innocence of parties suspected of burning this property 2061 Carrollton Ga November 11 and 27 1921 Report December 8 Two fires at such short intervals naturally aroused suspicion Thorough investigation devel oped no evidence of incendiarism but much of carelessness 62 Worthen Ga December 5 1921 Report December 19 Suspicion of incendiary origin in this case evidently resulting from petty feeling among neighbors Thorough investigation established no founda tion for such charge 63 Near Center Ga October 19 1921 Report December 19 Four indictments obtained in con nection with this burning two boys pleading guilty and being sentenced by the court Remaining two parties plead ed not guilty case awaiting trial COMMENTS In a perusal of the foregoing report of investigations one thing that stands out is the difficulty of obtaining convic tions in the cases brought to trial Prosecuting attorneys and jurors have freely stated that this is due in many cases to what is popularly supposed to be the very severe sentence that may be imposed upon persons convicted The law states that upon conviction of arson the sentence imposed upon the guilty person shall be a period of five to twenty years in the penitentiary with no recommendation for leniency In the country districts particularly where most of my investiga tions have been made it is exceedingly difficult to have a jury bring in such a verdict and many persons interested in the enforcement of the law have stated their belief and I am forced to the same conclusion that a less drastic law say with a penalty of from one to five years in the peniten tiary would be equally discouraging to persons contemplat ing arson by reason of the fact that undoubtedly more con victions could be obtained thereunder than under the pres ent law I would respectfully suggest the adoption of what 21is known as the Model Arson Law of the Fire Marshals Association of North America with such modifications as may better fit conditions in the State of Georgia I find also that there is no law on the statute books of the State whereby a person can be punished for setting fire to his own propertyof whatever natureoutside of cor porate limits where such fire does not endanger or result in damage to the property of others It is therefore impossible to follow up such cases with the idea of punishment no mat ter what may be the intent to defraud the insurance com panies carrying the risk upon such property These comments are presented for your information and such corrective action as is deemed wise Respectfully submitted J ALBERT SHARP State Fire Inspector The Fire Inspector has been kept so exceedingly busy dur ing the past year and there are so many calls on his time and for his attention that it is impossible for him properly to meet all the demands Frequently he must postpone or ad journ investigation of important cases in order that he might be in attendance at a trial in court of some one against whom he has brought action and during these periods other calls are received other investigations are demanded and the work necessarily accumulates to such a degree that often it is far behind and when finally reached evidence is impossible to obtain and investigation is useless To cor rect this additional help is needed in this branch of the activities of the Department and I take the liberty of sug gesting that the law authorizing the appointment of a Fire Inspector Section 2412 k of the Code be amended so as 22to permit the Insurance Commissioner to appoint such as sistants to the Fire Inspector as may be deemed necessary from time to time in order to maintain prompt and efficient service compensation of such assistants to be met from the special Fire Inspectors Tax of onetenth of one per cent of the fire insurance premium income of the companies trans acting business in Georgia on Georgia business which the Insurance Commissioner is now authorized to impose The amount of this special tax imposed in the discretion of the Insurance Commissioner according to law is about 15000 and in the past has been sufficient to maintain the inspec tion branch of the service for a little over two years from the proceeds of one levy If the service is to the public and to the companies is to be effective however it must be made prompt hence my suggestion for additional assistance when needed Entirely apart from the above suggestion intended to enable the Department to meet more fully the needs of the situation as it now exists in line with the duties of the fire inspector as now set forth by the law under which he is appointed I venture to make another recommendation which I believe to be in the interest of the State and its people Reference has been made in a former paragraph to the great volume of loss incurred by the fire insurance compa nies on Georgia property Losses incurred by all classes of fire insurance companies aggregated approximately 14 000000 It will be noted that this represents loss covered by insurance We think it safe to assume without fear of suc cessful contradiction that the fire loss on property not covered by insurance or the margin between amount of in surance carried and value of property or cost to replace is fully equal to the loss covered by insurance and perhaps if we consider all losses by fire throughout the State except the burning of forests we may safely conclude that insur 28ance does not cover nearly onehalf of the cost or value of buildings or contents and manufactured products destroyed On this basis fire losses in Georgia in 1921 would be at least 30000000 aside from the damage by forest fires over the millions of acres of timber land that we are told are annually destroyed It cannot be argued that the value represented by insur ance paid to reimburse an owner for loss by fire is not a loss There is a distinct and definite loss of property no matter what the reimbursement may be or may not be and there is always an interference with the carrying on of whatever business is involved some people are temporarily out of em ployment or there is a serious handicap in some other way to some of our citizens Beyond this on our basis of calcu lation 30000000 of taxable property was lost to Georgia in 1921 some of it only temporarily of course until replace ment could be made but nevertheless the State loses the counties lose and the communities lose to say nothing of the loss to the owners and in the case of an industry to the many workers and their dependents The law providing for the appointment of a fire inspector defines his duty to be that of making investigation after a fire occurs I submit for consideration the suggestion that it would be better for the State to enlarge those duties so as to encourage fire prevention Both State and people would reap the benefit of any lessening of the present enor mous losses just as both now pay the penalty incident to the present experience I believe it would be well to grant the fire inspector and any assistants he might be given au thority to go upon any premises for the purpose of examina tion to see if local or State laws or ordinances or regulations for the purpose of lessening or removing the fire hazard are being strictly observed reporting to the proper author ities any violation of such laws ordinances or regulations recommending to the owners of properties examined the adoption of such precautionary measures as will diminish 24the risk of fire and thus better not only their own condition but also decrease the hazard to adjoining property Meas ures might also well be taken to compel the adoption of such recommendations unless good and sufficient reason could be presented to the contrary and where no local laws or regula tions exist the State should require the adoption of some standard of safety and its enforcement The required inves tigation of suspicious fires and the prosecution of those guilty of arson are right and proper and should be most vig orously conducted but the prevention of fires and the less ening of losses are of far more importance to the State and its people and proper means taken to bring these about will most certainly be worth while to all 25REVENUE RECEIVED FROM INSURANCE COMPANIES The following statement is submitted showing the reve nue collected through the Insurance Department from com panies licensed by the Department to transact business in Georgia as well as the expense of maintenance of the De partment for the year ending December 31 1921 The amount of revenue does not include any collections for the Fire Inspectors Fund provided by statute for the mainte nance of that division of the departmental activities Under this statute a tax of Onetenth of one per cent in the dis cretion of the insurance commissioner on the gross premium receipts of all such fire companies is levied for this pur pose and owing to economy of administration of this fund it was not deemed necessary to levy such tax during 1921 there being sufficient funds in hand at the end of 1920 to maintain the service throughout 1921 as shown by the finan cial statement made a part of the report of the work of the Fire Inspector REVENUE COLLECTED License fees for companies and agents 5687800 Tax on premium income of the companies on Georgia business 1 12 per cent of gross collec tions except where otherwise provided by law 65982547 Total Revenue 71670347 26DEPARTMENTAL EXPENDITURES Furnishings and supplies 12581 Postage 31500 Telegrams 5315 Printing and Stationery including 449820 for printing annual re port of 1920 business 559451 Advertising 600 Salaries 1040000 Total Expenses16494451649445 Net revenue to State of Georgia70020902 Total cost of maintenance of Insurance Depart ment to the total revenue221 per cent CONDITION OF STATE FIRE INSPECTORS FUND Cash in bank January 1 1921 1350499 Cash in hands of Fire Inspector 3055 1353554 Fine levied by Fire Inspector 3000 Interest on Savings Account 28000 1384554 Disbursements Salary Fire Inspector 279760 Traveling and incidental expenses 379082 Legal and other expenses 29529 In hands of Fire Inspector 4473 692834 Cash balance December 31 1921 691720 27COMPANIES IN PROCESS OF LIQUIDATION The only company now in the hands of the Insurance De partment for liquidation is the Empire Life Insurance Com pany As stated in previous reports at the time the Court placed the company in the care of the Insurance Commis sioner March 16 1916 the policies then in force with the exception of a few held by dissenters were reinsured by the International Life Insurance Company of St Louis Mo under a reinsurance contract approved by the Court the contract guaranteeing for seven years the payment of the face of the policies at maturity without deduction for deficiency in reserve upon any policy The largest asset of the company its home office building in Atlanta known as the Flatiron Building was sold by me as reported last year and the proceeds of this and other assets of the company now on deposit at interest with interest payable semian nually will be ready for distribution upon Court order after the expiration of the sevenyear period from the time of the taking over of the companys affairs The question of prior ity of creditors will be decided by the Court and the Su preme Court has held that living and deceased policy holders must be treated on a parity as to claims A payment of fifty per cent on death claims was made in 1918 whereupon the Court held that until assets are realized sufficient to make a similar payment on claims of living policy holders no further distribution can be made on death claims I append hereto report of an examination of the books records and transactions of the Empire Life Insurance Com pany for the last twelve months made by Womack Harper Bansley Certified Public Accountants of Atlanta 28Atlanta Ga January 7 1922 Honorable William A Wright Insurance Commissioner State of Georgia Dear Sir In accordance with your instructions we have made an audit of the books records and transactions of The Empire Life Insurance Company Atlanta Georgia in liquidation for the period January 1st to December 31st 1921 STATEMENT OF INCOME AND DISBURSEMENTS FOR PERIOD 1 Amount of Ledger Assets Book Value as per balance December 31 192054989224 Income 2 Interest on bonds 2125 3 Interest on purchase money notes 519447 4 Interest on certificates and savings deposits 515889 5 Rent on calculating machine 10500 6 Total income items 2 to 5 inclusive 1047961 7 Sum of items 1 to 656037185 Disbursements 8 Rent of office 42000 9 Taxes 693 10 Rentsafe deposit box 300 11 Repairing lock to safe 2250 12 Auditing 15000 13 Miscellaneous 2535 14 Legal fees and court costs 341133 15 Total disbursements items 8 to 14 in clusive 403911 16 Balance item 7 less item 1555633274 29STATEMENT OF BOOK ASSETS AND LIABILITIES AS OF DECEMBER 31 1921 Assets Cash items on hand 46190 Cash in banks 422209 Savings Deposits in Banks 5327010 Certificates of Deposit 17684545 Liberty Bond par value 50000 Purchase Money Notes 5000000 Mortgage Loans 220592 Collateral Loans 1233883 Notes Receivable for Capital Stock 15659159 Policy Loans Notes LiensDissenting Policy holders 1041325 Agents debit balances 4686184 Accounts Receivable 1929762 Real EstateDeKalb County Ga 148000 Treasury Stock 107 12 shares Empire Life In surance Co 791080 Furniture and Fixtures 1393335 Total Assets Book Value as per balance55633274 Liabilities Reinsurance Liens Reserve as es tablished by the reinsurance con tract March 17 1916 50217420 Less lapsed liens to March 16 1921 18492835 31724585 Reserve for dissenting policyholders 1158762 International Life Insurance Co as of 31621 8055698 Policy Dividends 323971 Death Claims 13385147 Sick and Accident Claims 38842 Contested Death Claims 2100000 30 Notes Payable 1592000 Accounts Payable 449463 Agents Credit Balances 175824 Medical Examiners Balances 61500 Accrued Salaries of Officers 115232 Taxes State County and City 1090410 Dividends Unpaid 33410 Total Liabilities exclusive of Capital Stock 60304844 Capital Stock December 31 192128555250 Attention is directed to the fact that the assets shown on the foregoing statement are at book values Respectfully submitted WOMACK HARPER BANSLEY Certified Public Accountants STATE MUTUAL LIFE INSURANCE COMPANY Since the Court placed this company in the hands of the Insurance Department with instructions to operate it for the benefit of its policyholders its affairs have been adminis tered by a Special Deputy under my direction and I ap pend hereto the report made by him to this Department covering the business for the year ending December 31 1921 Rome Ga March 23 1922 Hon Wm A Wright Insurance Commissioner Atlanta Ga Dear Sir As Special Deputy Insurance Commissioner conducting 31the business of the State Mutual Life Insurance Company of Rome Ga I submit my report of operations of the Com pany for the year 1921 Statement showing Income and Disbursements during the calendar year also the financial condition of the Company as of December 31 1921 is attached hereto and marked Ex hibit A Said Exhibit or Statement should be considered in connection with this explanatory letter though most if not all of the items will no doubt be found selfexplanatory Referring particularly to the item under the heading Dis bursements showing reduction of 4448455 in valuation of real estate this is to be considered in connection with the item Real Estate 21715000 shown under Assets As we have stated in previous reports the greatest problem we have had in the handling of the State Mutuals assets has been the large holdings of real estate accumulated before the Companys affairs were taken over by you under direction of the Court We have kept steadily in mind the desirability of disposing of such holdings as fast as fair and satisfac tory prices can be obtained Quite a number of small sales were made during 1921 but in view of general business conditions it has not been practicable to dispose of the larger parcels It has been evident that some of the real estate referred to cannot be made to produce a rental income sufficient to pay interest on the amount invested therein by the former management nor can we hope to sell it within a reasonable time for what the books of the Company show it cost While real estate was active and values increasing we did not think it good business nor expedient to reduce book valuations more than shown in previous reports As such reports will show we disposed of a large part of the real estate formerly held while the market was active but could not liquidate all of it Everything considered it seemed to us during the lat ter part of 1921 that the point had been reached in our con duct of the Companys business when it was advisable to 32make further reduction in the book valuation of the real estate remaining Accordingly the valuation of the Home Office Building was reduced from 10158206 to 75000 the balance of the 4458445 being distributed over the vari ous properties belonging to the Company This does not mean that there was a loss or depreciation of that amount during the year 1921 but only that the lower figures more correctly represent the actual investment value of real es tate that was included in the assets of the State Mutual when you took charge under decree of Court The rental income for 1921 was 145028 more than for 1920the total rents received being 1862489 as compared with 1717461 for the preceding year An analysis of results of operations of the Company shows a gain made during the year from loading from interest and from mortality It has been our constant endeavor to con serve the Companys business and assets and increase in every way consistent with safety and good management the earning power of its investments We have given special attention to mortgage loans The detail work study and attention incident to caring for real estate loans is much greater than would be involved1 in looking after some other forms of investment but the rec ord made by this class of investment and the larger rate of income realized make this labor worth while Care and con servatism have been exercised in the selection of invest ments and I believe that the results of this somewhat ardu ous wbrkwiirbe moreclearly shown in future statements than in the present For the last three years there has been a steady improvement in the rate of interest realized on the Companys assets The Expected Mortality on the net amount at risk in 1921 was 8330795 whereas the Actual Mortality experienced was only 6013190 or 722 of the expected All death 33claims accruing were paid promptly and in full upon receipt and approval of proofs of death and claim During the year we settled and disposed of claims that had heretofore been a drain upon the Companys surplus income to the extent of 360000 per year Adjustment of these claims was made on an equitable basis satisfactory to claimants and advantageous to the Company and its policy holders It seems hardly necessary to refer to the fact that the year 1921 was one of acute and prolonged financial depres sion and I do so at this time only to point out that marked progress was made by the State Mutual Life Insurance Com pany during the year notwithstanding general business con ditions The decrease of business in force through deaths lapses cancellations expiry and reduction of policies was only 84 of the business in force January 1 1921 The business in force at close of the year was 800954700 Looking back over the year I feel gratified at the results achieved and believe that we may face the problems of 1922 with assurance that the policyholders of the State Mutual who have given us their support and cooperation in our en deavor to rehabilitate the Company will find their confi dence justified Yours very truly HAMILTON1 YANCEY Special Deputy Insurance Commissioner 34EXHIBIT A Attached to and forming part of Keport for the year ending December 31 1921 Ledger Assets December 31st 1920 292152376 INCOME Premiums 23633248 Interest Mortgage Loans 6378440 Bonds 803498 Policy Loans etc 7422332 Deposits 178020 Rents Including 2500 for own occupancy 1862489 Total Interest and Rents 16644779 Other Items 10750 Total Income 40288777 332441153 DISBURSEMENTS Death Claims 13190658 Disability Claims 62500 Annuities 2883721 Surrendered Policies Values applied t o cancel policy loans 13768737 Endowments 250000 Coupon reduction of premiums 2722517 Total Payments on Policies 32878133 Carried Forward 35DISBURSEMENTSContinued Amount forward32878133 Renewal Commissions 329797 Traveling Expenses 84895 Salaries 1 1322505 Rent Own Occupancy 250000 Printing Postage etc 59307 Legal Expenses 292600 Repairs and Expenses on Real Estate 429316 Fire Insurance 121599 Taxes on Real Estate and Per sonalty 1072476 Taxes on Premiums Department and Municipal Li censes and fees Other Items Profit and Loss Account Reduction Valua tion of Real Estate 4458445 Amortization of Bonds i Adjustment of Bond Values Loss on Sale of Bonds Adjustment Pre mium Lien Note Account 69383 10575 76623 8102 24955 14500 69472 4575474 Total Disbursements 41572683 Ledger Assets Dec 31 1921 290868470 LEDGER ASSETS December 31 1921 Real Estate j 21715000 Mortgage Loans 95618307 Amount forward 117333307 36LEDGER ASSETSContinued Amount forward117333307 Policy Loans 138256919 Premium Notes 6642441 Bonds U S State and Municipal 22064332 Cash on Deposit at Interest 6423787 Cash in Office 15827 Agents Debit Balances 131857 Total Ledger Assets 290868470 NONLEDGER ASSETS Interest due and accrued On Mortgage Loans 3974562 On Bonds 375149 On Bank Balances 8588 Rents due and accrued 68930 Unearned Fire Insurance Premiums 53841 Net uncollected and deferred premiums 1507898 Gross Assets296857438 ASSETS NOT ADMITTED Policy Loans and Lien Notes in Excess of Reserve 95213 Agents Debit Balances 131857 Total NonAdmitted Assets 227070 Total Admitted Assets296630368 LIABILITIES Net Value of outstanding policies 284480261 Death Claims in process of adjustment 887400 Claims for Death Losses adjusted and not due 1037039 Death Claims resisted litigation pending when Insurance Commissioner took charge of Company 300000 Carried forward286704700 37LIABILITIESContinued Amount forward 286704700 Reserve for net death losses incurred but un reported 500000 Coupons and Dividends left to accumulate with interest 1038902 Interest paid in advance 2973167 Renewal Commissions to Agents due and ac crued 147435 Medical and Inspection fees accrued 26100 Miscellaneous bills and accounts 76268 Reserve for Taxes 445790 Unassigned funds or Contingency Reserve 4718006 Total296630368 I have the honor to be Very respectfully your obedient servant WM A WRIGHT Insurance Commissioner 38FIRE MARINE AND INLAND INSURANCE COMPANIES Financial Condition as of December 81 1921 and Business Transacted During the Year 1921 COMPANY AND LOCATION Abeille of Paris Providence R I Aetna Hartford Conn Agricultural Watertown N Y Allemannia Pittsburgh Pa Alliance Philadelphia Pa American Alliance New York NY American Automobile St Louis Mo American Central St Louis Mo American Druggists Cincinnati Ohio American Eagle New York N Y American Ins Co Newark N J Atlantic Mutual Savannah Ga Atlas Assurance Co London New York N Y Automobile Ins Co Hartford Conn Bankers Shippers New York N Y Berkshire Mutual Pittsfield Mass Boston Ins Co Boston Mass British America Assurance Co Toronto Canada Caledonian Ins Co New York N Y California Ins Co San Francisco Cal Camden Fire Ins Asso Camden N J Central Manufacturers Mutual Van Wert Ohio Citizens Ins Co St Louis Mo City of New York Ins Co New York N Y Columbia Ins Co Jersey City N J Commercial Union Fire Ins Co New York N Y Commercial Union Assur Co Ltd New York N Y Commonwealth Ins Co New York N Y Concordia Fire Milwaukee Wis Connecticut Fire Hartford Conn Continental Ins Co New York N Y County Fire Philadelphia Pa Dixie Fire Greensboro N C Eagle Star British Dominions New York N Equitable Fire and Marine Providence R I Y J Federal Ins Co Jersey City N Fidelity Fire Sumter S C FidelityPhenix New York N Y Fire Association of Philadelphia Philadelphia Firemans Fund San Francisco Cal Firemens Ins Co Newark N J Fitchburg Mutual Fitchburg Mass Franklin Fire Philadelphia Pa Pa Georgia Home Columbus Ga Girard Fire Marine Philadelphia Pa Glens Falls Glens Falls N Y Globe and Rutgers New York N Y Great American New York N Y Great Southern Atlanta Ga Hanover New York N Y Total Admitted Assets 443023 894699 518599 180487 268456 808438 258419 301019 911758 439108 836502 348580 440809 970502 554615 601442 779109 256915 676474 143529 213735 229351 078608 477512 203063 Liabilities Including Reserves but ex cluding Capital and Surplus 1968091 14057804 4421468 4710587 12421018 43389862 1604990 1700027 5024148 3477729 5523723 570585 29189830 16491022 21871750 10517443 605224 6941742 730216 4360509 10345350 46652573 42806009 140108 6889165 Paidup Capital 1002210 24827609 4877687 1737785 2627803 1553214 2643419 5108142 196292 3156921 11725030 140328 4006057 8120553 2093376 452636 8426605 1601036 2511838 1687134 4806583 1226513 593551 1850367 1188649 1597642 9561369 2545022 3170404 7832828 21250563 475146 821831 3980476 1189017 3457863 269516 18093329 11328814 14558849 6426872 409968 4394907 387391 2508654 6568981 33012884 20592998 21778 4852348 200000 5000000 1000000 500000 1000000 640653 1000000 300000 1000000 300000 1000000 2500000 nooooo Surplus 2000000 1000000 1000000 200000 200000 1000000 1250000 200000 1000000 400000 200000 500000 750000 1000000 10000000 500000 500000 1000000 1000000 200000 2500000 1000000 3000000 1250000 1000000 200000 1000000 1000000 700000 10000000 100000 1000000 INCOME 240813 9067090 1640912 942701 1000000 1255225 315000 1192876 415466 1282187 3611471 108252 1434752 1849949 461240 148786 3352504 455879 964636 456395 1157153 1002838 285058 627145 614413 170448 4496434 1376446 790183 3588190 12139299 629843 378196 1043672 1288712 1065860 101069 8596501 4162208 4312901 2840571 195257 1546834 142826 851855 2776369 12939689 12213011 18330 1036817 Net Premiums 909309 21909465 4190221 1431359 2146678 1367730 3103254 4640027 284500 3255867 8958032 165787 3889668 10777928 1826537 529461 6256097 1395596 2230407 1754907 4185442 1809011 214508 1625924 1405207 1437129 8399611 2310400 2694554 6339930 16302444 307591 804629 4603444 1076518 3360521 242568 13059676 9180557 15289535 5113389 576987 2986486 309916 1504971 6204628 24209526 18126645 27029 3935472 Total Income DISBURSEMENTS Net Losses Paid 1051135 23645824 4608178 1630681 2400846 1554132 3487384 4952651 324006 3869339 10264855 218011 4100082 11813636 1980148 595280 6833323 2333439 2480722 1887789 4626691 1918747 304806 2071376 1931222 1521294 9744266 2520746 3155584 6892510 22122130 674597 906161 4971744 1255673 3730634 367853 16997988 9957432 16568007 6106178 608078 3382019 479878 2165886 6952353 26287904 20328716 32499 4320369 Total Dis bursements BUSINESS IN GEORGIA IN 1921 609300 14798733 2479451 685531 1624463 551448 1577161 2537058 78050 1509591 5088072 53589 2354224 6568433 1421589 176071 4263810 910208 1280436 1204626 2693632 819050 269615 816054 1093013 884577 5360189 1296914 1511518 3710576 9190419 140117 550685 3383936 667689 2203936 334509 8148169 5189881 11471305 2944995 242877 1937765 209632 778888 3711807 15100721 11158463 5652 2201589 Net risks Net Premiums 989653 25451715 4619199 1489008 2712152 1550037 3087004 4642852 223899 2715425 9743603 187391 4338757 11897922 2210362 476342 7597819 2343569 2451219 2125599 4732560 1793390 406152 1516864 1913043 1623828 10211664 2635707 3031902 6913229 19504461 323614 956706 5350873 1148362 4386820 439579 15561837 9767245 18979146 6659 316 542 843 3256537 528808 1720118 6781535 23664414 22225769 30963 4521447 2926047 71816572 6453611 197668 6732506 1842005 6348952 230675 13608374 10971931 5953930 8998963 16388133 4039853 122789 4555792 2845430 2372624 2538636 5156879 1325607 5673746 6014254 2306557 1962317 97452456 2452597 5435092 6514501 60348712 1776747 1350820 5144894 1188318 32544836 163368 47072428 18086384 22598889 12118439 678865 32466902 2802132 3153797 8778316 27390000 15837729 1578330 7125829 Net Losses Paid 46668 742287 66110 3273 43036 18111 11864 72954 3495 75910 154615 61247 112638 109683 66529 2813 40311 36842 31807 32446 72097 19885 86373 60125 33144 23301 370931 34011 77305 73014 373714 20900 22129 84521 13228 25156 3555 303882 266567 316033 101527 I 16290 86179 39197 41700 72842 372659 229895 27029 62292 Net Losses Incurred 49122 868418 72617 2511 52365 10104 2464 90837 5244 102518 152236 15516 174972 94547 59876 1096 50172 38970 18702 21073 90715 8518 38097 120872 40886 26384 249052 29614 79493 78008 439956 19407 13970 78143 17009 11728 12914 357065 261249 247009 137891 2069 78584 32259 37485 71231 459637 262634 5652 73568 46156 920234 69722 3856 53586 9531 99454 5244 95520 183642 18266 174265 124235 76110 2018 57903 37852 18995 29725 113984 11231 43364 127986 45764 24904 264402 38084 80782 97786 422947 22691 19590 98442 28205 14246 8889 347413 268803 261389 162587 1538 91832 41438 58069 76174 539983 281730 11812 62602 Contingent Reserve Guarantee Fund FIRE MARINE AND INLAND INSURANCE COMPANIESContinued Financial Condition as of December 31 1921 and Business Transacted During the Year 1921 COMPANY AND LOCATION Hardware Dealers Mutual Stevens Point Wise Hartford Fire Hartford Conn Home Fire and Marine San Francisco Cal Home Ins Co New York N Y Hudson Ins Co New York N Y Importers Exporters New York N Y Indiana Lumbermens Mutual Indianapolis Ind Ins Co of North America Philadelphia Pa Insurance Co of tate of Pennsylvania Philadelphia Pa Liverpool London Globe Ltd Englandl New York N Y London Assurance Corporation New York N Y London Lancashire New York N Y London Provincial Marine General Ltd New York N Y London Scottish Assur Corpn New York N Y Lumber Mutual Boston Mass Lumbermens Mutual Mansfield Ohio Marine Motor Ins Co of America Galveston Tex Maryland Motor Car Ins Co Baltimore Md Massachusetts Fire Marine Boston Mass Mechanics Ins Co Philadelphia Pa Mercantile Ins Co of America New York N Y Mercantile Mutual Fire Ins Co Providence R I Merchants Manufacturers Mutual Mansfield Ohio Merrimaek Mutual Andover Mass Millers Mutual Fort Worth Tex Milwaukee Mechanics Milwaukee Wis Minnesota Implement Mutual Owatonna Minn National Ben Franklin Pittsburgh Pa Nationale Paris Providence R I National Fire Hartford Conn National Liberty New York N Y National Mutual Celina Ohio National Union Pittsburgh Pa Netherlands Fire Life Holland Chicago 111 Newark Newark N J New Brunswick New Brunswick N J New Hampshire Manchester N H New Jersey Newark N J New Zealand Ltd San Francisco Cal Niagara New York N Y North British Mercantile New York N Y Northern Assurance Co Ltd New York N Y Northern Ins Co New York N Y North River Ins Co New York N Y Northwestern Fire Marine Minneapolis Minn Norwich Union Fire Ins Society New York N Y Ohio Hardware Mutual Coshocton Ohio Orient Hartford Conn Pacific New York N Y Palatine Ltd London I New York N Y Total Admitted Assets 1252527 56171085 2548683 75931552 2531308 2741410 1535951 42350821 5038143 19350754 7104741 7702369 784418 1752575 1878029 1810430 416220 713060 1246181 3135240 4048353 507037 250391 693525 680560 7945056 1395253 5384242 1462132 28224420 12158078 266984 7994634 1488672 4237718 1753719 10944349 2298043 2124390 15227727 12417353 9610940 2655451 9851633 1460037 5810555 265371 5678748 2941552 4997638 Liabilities Including Reserves but ex cluding Capital and Surplus 805562 38911774 1713717 42967383 1329561 1613719 515290 24818286 3395953 13684033 4611855 4287066 109104 631711 491309 1069512 215072 111929 325230 1746213 1951700 259941 103227 511602 346374 4837950 953576 3748972 1002209 19379939 8137413 160136 5652935 805369 2717372 1080469 5905144 1090141 1128324 9509252 8152256 6333562 1641146 5889506 767659 4141294 125933 3173314 1738800 3440832 Paidup Capital 4000000 500000 12000000 500000 700000 5000000 1000000 200000 400000 200000 500000 500000 600000 1000000 1250000 1000000 200000 2000000 1000000 50000 1500000 200000 500000 500000 2000000 1000000 400000 2000000 400000 400000 500000 2000000 400000 1000000 400000 Surplus 446964 13259311 334966 20964168 701747 427691 1020661 12532536 642189 5666721 2492886 3415303 475314 720864 1386720 740917 1148 10Y131 420951 789027 1096653 247096 147163 181923 334187 1857106 441677 640270 259922 6844481 3020665 56848 841699 483303 1020346 173250 3039206 207902 596066 3718495 3865097 2877379 514305 1962127 292378 1669261 139439 1505434 802752 1556805 Net Premiums 1253626 40358300 1725961 42134514 801511 1936650 896634 23559282 2542543 10804788 3763316 3468995 133286 628228 904565 1534890 62633 351399 266051 1092783 1810499 394203 178975 481212 691093 3735972 1340587 2910429 909309 15577791 6108344 232414 4804380 661667 2547344 448793 4502333 1440985 855900 9066160 6932294 5523401 1364284 5865944 209522 3976124 227754 2401129 1819069 2927883 Total Income 1300609 42609784 1834762 48621877 962117 2072932 978930 25454688 2857320 13539055 4493893 3835945 173672 798375 1028266 1611896 93907 406164 334399 1300331 1995812 420253 189218 510628 730007 4096088 1397449 3174885 963230 16682994 7832803 244216 5461324 738517 2732060 1256288 5153724 1587071 1047040 10010306 7532264 6001820 1506998 6431097 3304645 5385103 240 701 2643872 1946508 3138551 DISBURSEMENTS Net Losses Paid Total Dis bursements 305323 22806714 1304344 25799676 519846 1198597 305919 14423202 1538972 7530881 2423131 1910086 42606 397445 285125 660061 144385 605930 205163 466774 1068633 18028 67915 173311 414284 1913824 431817 1538621 609312 8344555 3278769 126270 2984462 495184 1382014 966342 2500159 472422 741053 5495668 3942661 3435028 659003 3007617 257882 2440288 55996 1355165 1079120 1832230 1095886 42432913 2190675 46921144 1022993 2041198 868105 26090004 2912193 13839881 5110886 3972135 129262 751493 896844 1551685 196864 915732 370711 1104428 2150160 448665 158859 405693 871198 3879949 1252261 3120689 990013 16113710 6843226 232273 5611035 848373 2472960 1716123 5798824 1610554 1398900 10054452 7884266 6465261 1379393 5872077 3614426 5074169 183661 2720702 1819085 3477251 BUSINESS IN GEORGIA IN 1921 663108 32065940 3004174 41448851 623939 1872592 389475 44331559 4424406 31143602 2784119 6480707 1020841 2270958 377626 1053866 Net Premiums 434473 337570 3242057 1593720 1225606 166091 232081 643025 6576829 1281800 3847505 2926047 17928020 17101333 141425 6764396 401388 2550282 1780631 7554260 2452578 1489249 9105908 11573028 7518039 1907001 2792980 818151 6516867 282530 4152388 5837580 9563197 6678 838844 38900 513076 48180 36065 5869 334325 71810 282050 28482 74573 9592 37444 12149 16769 Net Losses Paid 16822 2360 40110 16459 1247 3624 3856 14675 88202 18972 51957 46668 237366 156528 4180 111340 6351 34569 32686 63448 32888 17628 96093 148360 131020 29608 48206 7623 61706 5938 46230 138973 116948 11483 923752 29561 583969 36187 46909 2766 366766 76587 217947 40698 48006 684 33737 3038 7678 Net Losses Incurred 23264 5723 26985 9644 1155 1085 226 8259 62657 9066 63806 49122 228648 135012 135981 2955 16455 74026 47097 21 27 37385 130109 125 169 165155 28793 61 595 44 506 2000 36461 109430 79934 11483 910534 20277 657073 32692 45474 2326 378744 91026 223617 38378 49946 3362 25346 2827 7330 20222 3760 37270 12253 884 3085 2751 3800 60796 6449 56482 46155 303350 177475 1607 139751 12858 31469 64321 52824 36921 36617 137624 143239 190440 30320 63090 65182 3000 35986 114902 93728FIRE MARINE AND INLAND INSURANCE COMPANIESContinued Financial Condition as of December 31 1921 and Business Transacted During the Year 1921 COMPANY AND LOCATION Palmetto Sumter S C Pennsylvania Fire Philadelphia Pa Pennsylvania Lumbermens Mutual Philadelphia Pa Pennsylvania Millers Mutual Wilkes Barre Pa Peoples National Philadelphia Pa Phenix Paris Providence R I Phoenix Assur Co Ltd New York N Y Phoenix Fire Ins Co Hartford Conn ProvidenceWashington Providence R I Queen Ins Co of America New York N Y Reliance Philadelphia Pa Retail Hardware Mutual Minneapolis Minn Rhode Island Providence R I Royal Exchange Assurance New York N Y Royal Insurance Co Ltd New York N Y Savannah Fire Savannah Ga Scandinavian American Assur Corpn Ltd New York N Y Scottish Union National Hartford Conn Security Ins Co New Haven Conn Southern Mutual Athens Ga Springfield Fire Marine Springfield Mass Standard Hartford Conn Standard Marine Liverpool New York N Y Star Ins Co of America New York N Y Sterling Indianapolis Ind St Paul Fire Marine St Paul Minn Stuyvesant Ins Co New York N Y Sun Insurance Office England New York N Y Superior Fire Ins Co Pittsburgh Pa Svea Fire Life New York N Y Texas State Mutual Dallas Tex Thames Mersey Marine New York N Y Tokio Marine Fire New York N Y Union Assur Society Ltd New York N Y Union Fire Ins Co Paris Providence R I Union Ins Society of Canton Ltd Chicago 111 Union Marine Ins Co Ltd New York N Y United Firemens Ins Co Philadelphia Pa United States Fire New York N Y United States Lloyds Inc New York N Y Urbaine Paris New York N Y Victory Ins Co Philadelphia Pa Virginia Fire Marine Richmond Va Washington Marine Ins Co New York N Y Westchester Fire New York N Y Western Assur Co Toronto Canada World Auxiliary Ins Corp Ltd Chicago 111 Yorkshire Ins Co Ltd New York N Y Total Admitted Assets 831224 10474555 1683116 1470692 2375969 1451016 6777755 24014028 9462443 17125600 1461605 2034916 3179197 5523841 21217105 449182 228730 443501 785193 025708 384250 638732 346014 961067 438109 610382 589737 964324 509765 004018 239619 1777754 5329949 2792638 1716759 7491432 1463717 2130904 13227788 2723625 5322355 1568276 2895279 Statement 10590 927 4835545 1309095 2935231 Liabilities Including Reserves but ex cluding Capital and Surplus 274220 6801587 470867 584869 1164495 1002210 4244979 11589343 5621678 9827427 654186 917197 2057727 3245439 15544587 150081 2281083 4534120 5305714 272999 13323139 731922 1552165 1925455 1005667 11226573 1656029 4689487 2059363 1733043 157877 939425 1532896 1873422 1127337 5207922 700421 1259685 8769552 1526956 3867199 827883 1406591 not submitted 7795476 3235990 579083 1850667 Paidup Capital 400000 750000 1000000 200000 400000 3000000 1000000 2000000 400000 300000 600000 400000 400000 200000 400000 200000 1000000 2500000 500000 200000 500000 850000 2000000 700000 200000 70000 200000 200000 530000 400000 200000 400000 1400000 800000 500000 500000 1000000 400000 200000 200000 Surplus 157004 2922986 1212249 885823 210475 248806 2132775 9424686 2840764 5298172 407419 817719 521470 1878402 5272517 99101 547647 3709381 1479480 752709 4561111 406810 1593849 535612 582442 6383809 233708 2074837 750402 1070975 81742 638328 3267054 919215 589422 1883509 563297 471218 3058236 396669 1455157 240393 988688 1795451 1199 555 530012 884564 INCOME Net Premiums 382053 4880433 835289 690914 864700 909309 4155900 9825108 5741556 8934012 42899 1486413 1619629 2826436 12899897 181853 1551248 3644436 4806548 363422 11133368 727788 1845579 1793645 803440 10644222 1618088 3718465 1893018 1324038 150712 786126 1678352 1678366 968342 5428345 277807 630445 7768937 1983419 3569747 876390 1139816 7397201 1890868 741656 Total Income 440039 5403348 1038871 748040 1195424 1001721 4715448 11100118 6181783 9638463 283125 1576925 1741405 3707922 14207321 222978 2352677 4020682 5566669 435429 12032360 793871 3688898 1917941 942674 11829582 1722715 4066152 2170817 1436579 164585 1697679 2411442 1791880 1082564 6079712 1216992 1197403 8414220 2825136 3873489 938940 1277809 7944609 2334025 821794 2438299 DISBURSEMENTS Net Losses Paid 56796 2788212 291407 382144 522444 609312 2114857 5425426 3871395 4987588 369320 431308 944329 2117454 7566938 99865 2298070 2123175 2835217 124165 6593368 376980 916474 1227091 608589 7316167 1202592 2058090 840304 906934 104904 883560 1035908 1074157 675366 4408385 475232 343103 4091631 1657426 3030580 390963 689454 4446939 1492061 684438 1311227 Total Dis bursements 725064 5692796 808410 643986 115435 990353 4289095 10851041 6476622 10096356 776100 1393238 1720777 4181775 15274827 188098 3478264 3999058 5642591 354118 12122606 801559 3614254 2164574 1019825 12410675 1859441 4218495 1886619 1619989 170357 1764692 1791611 2073058 1120793 6848859 1302705 811952 7834666 3283913 4613798 857198 1366352 8111576 2773254 983497 2321467 BUSINESS IN GEORGIA IN 1921 Net risks 592935 5167931 387675 538708 3342355 2926046 7475039 14208570 6940042 21794425 1155511 588916 5118716 3344425 50706657 1502661 2446735 8731941 5585352 45136233 13586057 1673583 7909803 5732767 1742953 13626847 2674302 6362000 895611 2802905 293865 2491782 3286786 3377903 4694093 3067419 844344 1673594 6844534 3040017 4550044 3347315 1074566 8198320 4002068 838220 8219208 Net Premiums 9077 5912 6163 12438 51220 46668 87881 160541 96680 281624 12583 7639 81296 38591 340061 19820 57899 83533 70839 363422 92773 13i35 59393 42186 30013 107248 65042 100050 12253 34909 8296 15077 32394 43107 72576 60481 3635 26015 99470 34304 68613 31604 17924 23 83282 47864 9462 159179 Net Losses Paid 12886 43345 3512 4419 33108 49122 130478 188844 170789 222120 33 3899 83632 57986 362667 10732 50290 88726 66023 124165 105701 5219 121771 41232 18002 109975 58498 83922 5186 67950 321 19790 57302 38823 90737 89575 192 14051 87781 39303 99861 19378 19103 450 117288 44087 24593 136509 Net Losses Incurred 12473 51259 2766 3396 31278 46155 133419 179801 161638 211798 33 3899 100962 70404 36T108 12399 46857 96394 71152 127628 104797 10102 122035 38482 16008 125284 69811 85159 7802 61592 1500 20873 55049 45001 99056 120087 13435 13617 107181 41425 102799 21401 25331 450 121203 58866 23441 140628 Georgia Totals 5128029526 12507763 12660933 13567260Financial Condition as of December LIFE INSURANCE COMPANIES 31 1921 and Total Business Transacted During the Year 1921 COMPANY AND LOCATION Aetna Life Hartford Conn American Central Indianapolis Ind American National Galveston Tex Atlantic Life Richmond Va Bankers Reserve Omaha Neb Carolina Life Columbia S C Cloverleaf Life Casualty Jacksonville 111 Columbian National Boston Mass Connecticut Mutual Hartford Conn Conservative Life Wheeling W Va Equitable Life Assur Society New York N Y Federal Life Chicago 111 Fidelity Mutual Philadelphia Pa Franklin Life Springfield III George Washington Life Charleston W Va Guardian Life New York N Y Home Life New York N Y Illinois Life Chicago 111 Indiana National Indianapolis Ind International St Louis Mo InterSouthern Louisville Ky Interstate Life Accident Chattanooga Tenm Jefferson Standard Greensboro N C Life and Casualty Ins Co Nashville Tenn Life Ins Co of Va Richmond Va Lincoln Reserve Life Birmingham Ala Manhattan Life New York N Y Maryland Assurance Corpn Baltimore Md Maryland Life Baltimore Md Massachusetts Mutual Springfield Mass Metropolitan New York N Y Michigan Mutual Detroit Mich Missouri State Life St Louis Mo Morris Plan Ins Co New York N Y Mutual Benefit Newark N J Mutual Life New York N Y Admitted Assets 161294989 8606412 11672937 8769814 11754269 329926 636491 22061788 96204771 2033409 651301018 5601543 47510589 13263529 2657874 41152050 43222328 19413847 2449691 17819465 6873447 1289893 17119541 1952586 28308449 838503 19818205 842718 4377977 147090913 1115583025 15994131 33844503 308821 299976523 677505499 Liabilities including Re serves but excluding Capital and Surplus 145949261 8228712 10102293 8118854 10375273 224263 406681 20620788 92166082 1540216 619495221 5213539 Paidup Capital 5000000 137000 500000 300000 100000 100000 200000 1000000 Surplus 350690 100000 300000 12519118 100000 2357874 38361546 250000 200000 42241337 18111201 2228429 16406235 1000000 210000 656250 6050389 127623 704470 150000 16419541 350000 1257365 500000 25109146 1500000 648761 131690 19239241 282540 4020048 140571911 100000 500000 100000 068341845 15070947 30657034 37028 250000 1000000 100000 289911109 649454012 17279522 240700 1070644 350960 1278996 5663 29810 441000 4038688 142503 35705798 88005 1904844 644411 50000 2590504 980991 302645 11262 TC 137605 619375 118589 12269 350000 195221 1699303 58052 478964 60178 257929 6519002 47241179 673184 2187469 171793 tl0065109 128051587 Total Insurance in force 1204000398 106330496 Ord 59057290 Ind 98642483 82761893 79978028 10796635 6484433 Ord 150776851 Ind 194309 413239004 21960284 2817970732 46773116 222815106 130004110 17343435 198097970 136485045 15828372 138239918 59204201 Ord 1642880 Ind 3114649 165340195 Ord 7594693 Ind 41183171 Ord 78355055 Ind 135833406 8238998 70646801 10071061 16813965 817054519 892264274 113440565 88252493 340417028 Ord 1419550 Ind 5650175 1415984749 2472651779 Insurance issued in 1921 Paid for Ord Ind 197218133 30777923 17203491 45583427 15882696 18473751 Ord 532500 IndLH 8700598 2 564648 27210821 61765820 5614613 460033780 10751394 40222665 30458529 3362180 43282433 28986514 25129781 2381129 32446838 13672529 744048 2385088 40886800 3808343 46809715 12771411 17693441 2349996 10776161 3447939 1647085 132187583 690842301 483108317 12727139 89970087 1402800 5962050 167872149 332116624 INCOME Total Premium Income 30874736 2190378 4901940 2703406 2792298 960314 166080 4318965 12579524 679766 99655589 1258943 8258244 3786257 545654 6900004 6990547 3818060 455793 4497073 1714267 162150 5349156 4771915 7088938 351027 2087763 193457 521275 24780361 245858940 2413348 10217437 178197 47027044 90309699 Total Income 39661867 2826757 6145597 3277103 3411037 980756 1144604 5863486 17946857 908040 140612585 2344892 11013424 4650931 792118 9185844 9291538 4854497 713233 6014789 2 094733 729359 6186401 5040752 8884694 452948 3299061 288349 750270 33875310 301982699 3238870 12459993 189275 62288497 133388263 DISBURSEMENTS Paid to Policyholders and Bene ficiaries 18273666 985673 1123983 870074 1162182 418904 38682 1222038 9095596 174260 83678764 662343 4542786 1644573 165781 4460746 4740341 1523606 193243 1493867 566470 49723 1770688 1892440 1 Total Disbursements II 3052 8255 2065189 27740 356597 13142012 91348573 1568419 3296878 23714 29211023 95239239 26542090 2020218 3887918 1760298 2144109 976226 1088108 3097448 12777025 458845 116146545 1937819 7006874 3321622 408155 6763039 6577917 2998507 453604 3902333 1331327 728596 3505394 4573679 5257205 368114 3070230 223235 533801 19495782 171911361 2411755 7506180 130727 38023085 125775912 BUSINESS IN GEORGIA Insurance in Force Insurance Issued 1921 Premiums Received Claims Paid lisses Incurred 21575651 1217413 Ord 3110240 Ind 10961594 1731448 4554067 493333 684000 5190852 582655 587303 31993 112727 337724 55549 331569 1000 35000 86900 12000 332080 1000 88000 92860 12000 615080 81605 17409 3000 5000 189000 2057492 34655 5591824 118000 2908940 49655 1087038 206753 1574 145081 101389 101806 26475 34475 7677133 80000 1193531 30500 6139458 228063 1653 700835 101760 101760 22473414 247354 295797 272010 6616839 6708470 33500 1971798 2353 3120 198565 122444 2000 45072 42358 2000 53072 43016 2333941 5341248 307000 1876000 69230 153888 12529 71849 12529 78964 1833987 123404 43798 19421 20801 4885936 446000 1200663 6000 1236512 102858 9947 173086 68887 67387 5599984 56413 4462395 Ord 120241 Ind 509007 10261614 896584 76000 773769 2528400 139528 2417 19796 342017 27000 750 6052 81891 39000 750 6379 94295 417000 2912787 8056915 12081842 1023599 249000 5793605 1679173 2749086 252654 12839 314933 214321 514564 42116 1000 23679 35000 100114 17500 1000 23960 35000 101584 19111 2410481 128857 3154569 21362824 39246829 41083602 2062783 15020621 48200 429496 48076 288813 3005550 9253868 10607486 323093 46090 48300 63925 3176 101734 712016 1119453 1548132 56663 393879 1368 69902 4060 35498 168593 S71920 435452 6198 157997 100 70124 4060 45091 172093 413527 440023 6198 157997 100 35064968 48776079 2784450 6846629 1054075 1738201 416947 717720 416947 722738 LIFE INSURANCE COMPANIESContinued Financial Condition as of December 31 1921 and Total Business Transacted During the Year 1921 COMPANY AND LOCATION National Life and Accident Nashville Tenn National Life Ins Co Montpelier Vermont National Life Ins Co of U S A Chicago 111 New England Mutual Boston Mass New York Life New York N Y North Carolina Mutual Durham N C Northwestern Mutual Milwaukee Wis Pacific Mutual Los Angeles Cal PanAmerican Life New Orleans La Penn Mutual Philadelphia Pa Phoenix Mutual Hartford Conn Provident Life Accident Chattanooga Tenn Provident Life Trust Philadelphia Pa Prudential Ins Co of America Newark N J Reliance Life Pittsburgh Pa Reserve Loan Life Indianapolis Ind Security Life Trust Greensboro N C Security Mutual Binghamton N Y Southern Ins Co Nashville Tenn Southern States Life Atlanta Ga Standard Life Atlanta Ga State Life Indianapolis Ind State Mutual Life Assur Co Worcester Mass Travelers Ins Co Hartford Conn Union Central Cincinnati Ohio United Life Accident Concord N H Volunteer State Life Chattanooga Tenn Life Business Only Includes Accident and Health Accident Health and Industrial jContingency Reserve Fund Admitted Asssets 7167005 79756969 21468853 116208826 952632139 1517922 607085694 65199251 10000680 233985548 62687601 1110800 125747140 789508224 17949622 5752670 255971 12156129 519156 4161566 1554424 26221556 72219112 219005682 161681751 2168560 6218548 Liabilities including Re serves but excluding Capital and Surplus 5796714 76013034 20235568 110967386 936671943 1408923 482249941 61983482 8507993 225893639 60351718 745417 119215593 756256562 16594445 5459335 80358 11638815 330328 4002801 1385666 24156556 68203748 201316777 153448799 1411843 Paidup Capital 600000 500000 1500000 1000000 200000 2000000 2000000 1000000 100000 150000 145208 100000 125000 7500000 2500000 500000 Surplus 760291 3743935 733284 5241440 15960196 109000 24835754 1715769 492686 8091909 2335882 165383 4531548 31251662 355177 193336 25613 517314 43620 58765 43757 2065000 4015364 10188905 5732952 256720 Total Insurance in Force 10136800 333894264 136949716 609415082 3816098524 Ord 14551537 Ind 19212279 2350450298 390156043 87648741 1090757509 322725230 10654580 574723857 Ord 2513388316 Ind 315469254 218266038 50315351 4731950 69091109 16840303 37266499 20596871 150910511 338276595 Ind 1756489826 831872012 30616034 56129141 Insurance Issued in 1921 Paid for 9159750 49453511 23838189 80498168 590119372 Ord 3756225 Ind 12483420 264439965 79357760 20444282 135478861 49951746 3087774 82921189 405908912 574402640 53763249 14589150 3152035 9694500 21262948 6211552 10046S29 25748768 41843048 312892443 107524397 16732383 10897432 INCOME Total Premium Income 10576606 11467272 4161669 20042016 149106548 Ord 558968 Ind 837729 77522978 13278805 2895334 37703496 11105481 330819 20490279 187726376 7185300 1719038 141588 2361397 593330 1067552 878043 5132096 10781293 40751949 27412 583 764961 1511689 Total Income 10950336 16080427 5137117 2616949 26857925 203531910 1632304 103520411 16923897 3557584 51018931 15054957 1619129 26690596 224839727 8608788 2058855 154160 3008306 681530 1318533 1056676 6600349 14696617 49591034 37523703 939921 1996488 DISBURSEMENTS Paid to Policyhold ers and Beneficiaries 4417238 8899903 1942038 10818629 124308409 D 324924 SA 205483 53910367 6319329 796338 26679055 6737429 115794 14078618 68970513 1768035 835428 4360 1354540 136034 431596 165767 2462675 6885499 14946355 17751594 259842 397548 Total Disburse ments Life Cas 9910662 12568288 3462698 2573888 15425917 161864765 1251233 69758294 10975824 2186326 35146497 10071412 1408711 19237152 125735842 5010981 1629639 127978 2223239 561262 857882 637108 4311994 9709267 27707819 26497490 674773 BUSINESS IN GEORGIA Georgia Totals Insurance in Force Ord 882000 Ind 4577310 14528125 4467908 16491274 64621954 Ord 1543690 Ind 5126730 30047417 8014683 4236439 49215871 5255135 308250 7083673 28577447 237783 6427354 1574317 Ord Ind 2500 1910994 719511 16018744 4293060 9099589 4738551 16744591 39300959 650529 2884260 Insurance Issued 1921 616500 4417387 1675798 694937 2724101 1499406 Ord 635654 Ind 3537945 2368500 1240834 643000 4121372 926279 148500 2693672 3519299 345967 1358836 300407 2500 193136 719511 2901183 2156407 1371045 556315 3513633 5377122 228500 722344 654139220 Premiums Received 16565 669639 482503 139392 519939 2161368 Ord 48218 Ind 232317 856470 247840 110570 1389927 147403 5570 196101 754753 4189 192620 44215 84 71555 8252 441798 189419 181958 149478 384308 1201622 22127 74104 Clair Pai Ord Ind 141112600 22643057 1000 278769 13X095 22175 157490 664147 28500 70211 407299 57371 41179 510431 44914 500 16000 326151 12 30301 16000 46644 879 115319 48840 72500 78206 139706 436436 7806 6400 7677647 Losses Incurred 1000 280746 150148 23175 161490 701190 28500 71266 421796 61594 41179 575736 44914 500 16000 357716 12 47339 18000 52644 879 125819 50840 74500 78206 142194 444622 7806 8105148MISCELLANEOUS COMPANIES Financial Condition as of December 31 1921 and Business Transacted During the Year 1921 COMPANY AND LOCATION Aetna Casualty Surety Co Hartford Conn Aetna Life Hartford Conn American Casualty Co Reading Pa American CreditIndemnity Co New York N Y American Indemnity Co Galveston Tex American Mutual Liab Co Boston Mass American Natl Ins Co Galveston Tex American ReInsurance Co Huntingdon Pa American Surety Co New York N Y 111 Carolina Life Columbia S C Cloverleaf Life Casualty Jacksonville Columbia Casualty Co New York N Y Columbian Nat Life Boston Mass Commonwealth Casualty Co Philadelphia Pa Continental Casualty Co Chicago 111 Employers Indemnity Corpn Kansas City Mo Employers Liability Assur Corpn Boston Mass Equitable Life Assur Society New York N Y Federal Casualty Co Detroit Mich Federal Life Chicago 111 Fidelity Casualty Co New York N Y Fidelity Deposit Co of Md Baltimore Md Fidelity Union Casualty Co Dallas Tex General Accident Fire Life Philadelphia Pa Georgia Casualty Co Macon Ga Globe Indemnity Co New York N Y Hartford Accid Indemnity Co Hartford Conn Hartford Live Stock Ins Co Hartford Conn Hartford Steam Boiler Inspection Co Hartford Conn Indemnity Ins Co of N A Philadelphia Pa Integrity Mutual Casualty Co Chicago 111 InterState Casualty Co Birmingham Ala InterState Life Accident Co Chattanooga Tenn Liberty Mutual Ins Co Boston Mass Life Casualty Ins Co Nashville Tenn Lloyds Plate Glass Ins Co New York N Y London Guarantee Ace Co Ltd Chicago 111 Loyal Protective Ins Co Boston Mass Lumbermens Mutual Cas Co Chicago 111 Lumber Mutual Casualty Co New York N Y Admitted Assets Liabilities Including Re serves exclud ing Capital and Surplus 15468866 30423056 1437977 3011951 1839637 11711107 11672937 3072136 14904975 329925 636491 2782107 22061788 638446 8811390 3038054 30202022 309353 541736 5625824 26072177 13192008 782536 8433131 2270482 15131309 13592280 1374161 9633088 4021155 1805259 746583 289893 7436273 1952286 1738064 17465764 743622 1566895 1004889 Paidup Capital 10386358 23489263 734789 1996412 839637 9476223 10102293 1790086 8161763 224263 406681 1447616 2620788 298237 6811390 2024877 24698904 1492958 123848 5213538 19083701 7776180 486771 6974251 1728299 12117166 10282729 479089 5213075 2460499 1505259 343501 127623 5993917 1257365 932930 15785620 397573 1202931 758539 2000000 5000000 500000 350000 600000 500000 750000 5000000 100000 200000 800000 1000000 300000 1000000 700000 Dep 250000 100000 200000 300000 2000000 3000000 200000 450000 300540 750000 1000000 500000 2000000 1000000 300000 150000 Dep 500000 250000 800000 100000 Surplus INCOME Total Net Premiums 3072508 17279522 203188 665539 400000 2234883 1070644 532049 1743212 5663 29810 534490 440999 40209 1000000 313176 5253118 35705798 217889 112285 4988477 2415827 95765 1028879 241642 2264143 2390551 395072 2420013 560656 300000 103082 12269 1442356 195221 555134 880145 246049 363964 246349 Total Income 11771714 24066663 928331 1755196 586988 8628084 459190 1640805 6927039 795525 880781 1940331 443429 869422 9727150 2312877 22308469 1878917 433873 697555 17548162 8025176 428535 8528295 2414850 11850794 11353072 936802 2999104 3335903 2009900 800052 540009 5748861 3037559 1145719 13839106 973202 1734952 903303 DISBURSEMENTS Net Losses Paid 12774070 25282932 1009213 1920651 694672 9347608 15115469 1791738 7593447 980756 1144604 2223230 5863485 898945 10414957 2576843 24627302 1891736 485988 716838 18792833 10295754 446601 8825716 2541018 12446064 11786634 975932 3530853 3442540 2083799 890479 729359 6577752 5040752 1202063 14631614 1136464 1775528 934455 Total Disbursements 6134432 10623562 428483 1029 293 506215 3615784 174996 605601 2094692 322235 333611 443335 230929 466303 4270144 1394958 11006837 659237 146020 331842 7669964 2358753 86649 3707012 1296277 4563783 4457712 622115 382424 476901 981461 570457 257949 2376028 1551845 384638 6881668 552480 577365 381698 13037866 24478553 974679 1941470 977376 9020234 3887918 1287381 7151766 976226 1088109 1232900 436197 960091 9483842 3077587 23365549 1653821 478850 652104 18651511 9151240 226416 7959819 2558007 10383433 9665464 1048489 3143180 1837465 2156397 1076971 728596 6321384 45 3679 1041426 14485099 1070684 1439947 770583 MISCELLANEOUS COMPANIESContinued Financial Condition as of December 31 1921 and Business Transacted During the Year 1921 COMPANY AND LOCATION Manufacturers Liability Ins Co Jersey City N J Maryland Assurance Corpn Baltimore Md Maryland Casualty Co Baltimore Md Masonic Accident Ins Co Springfield Mass Massachusetts Masonic Protective Assn Worcester Mass Massachusetts Bonding Ins Co Boston Mass Metropolitan Casualty Co New York N Y Metropolitan Life New York N Y National Casualty Co Detroit Mich National Life Accid Ins Co Nashville Tenn National Life Ins Co of U S A Chicago 111 National Relief Assur Co Philadelphia Pa National Surety Co New York N Y New Amsterdam Casualty Co New York N Y New York Plate Glass Ins Co New York N Y North American Ace Ins Co Chicago 111 Norwich Union Indemnity Co New York N Y Ocean Accid Guarantee Corp Ltd New York N Y Pacific Mutual Life Los Angeles Cal Preferred Accident Ins Co New York N Y Provident Life Accident Chattanooga Tenn Reliance Life Pittsburgh Pa Ridgley Protective Assn Worcester Mass Royal Indemnity Co New York N Y Standard Accident Ins Co Detroit Mich Travelers Indemnity Co Hartford Conn Travelers Ins Co Hartford Conn Union Indemnity Co New Orleans La United States Casualty Co New York N Y TJ S Fidelity Guar Co Baltimore Md Zurich General Ace Liab Ins Co Chicago 111 Admitted Assets 2423707 733 29601126 359430 2337340 6982343 1322135 See 514639 See See 173243 034409 274243 573822 099840 026504 19244843 4533437 7510147 1110800 17949622 645874 15653244 14231086 8790306 See 3894615 7362093 33572450 9210107 Liabilities Including Re serves exclud ing Capital and Surplus 1516856 29295 20705033 185033 1933499 477735B 888581 Life Report 160219 Life Report Life Reports 301 1427111 657424 1020347 723712 938794 17871692 2520176 5810146 745417 16594445 303432 11286270 11206315 6255275 Life Report 2460365 5852056 23838309 7701698 Paidup Capital 500000 3500000 100000 100000 1500000 200000 200000 100000 6000000 1250000 150000 200000 500000 750000 1500000 700000 200000 1000000 100000 1000000 1500000 1500000 1000000 500000 4500000 450000 Surplus 406851 5396093 74396 303841 704987 233550 154420 43067 5763247 450000 403475 176127 587710 623151 1715769 1000000 165383 355177 242442 3366975 1524771 1035031 434250 1010037 5234142 1058414 Total Net Premiums 2168540 623 20536237 624936 3468712 6596364 1277700 677495 1108579 2563654 381291 13365648 6732880 1400365 1837578 1325259 14189164 3809802 4864307 1148901 389227 1057681 11373180 7879592 40074585 3150910 6246210 26310413 6909774 Total Income 2300110 60743 23005655 714179 4128348 6926619 1316379 677506 1150612 2616949 423596 14454277 7366950 1543494 1927647 1543783 15025289 4057030 5104896 1619129 8608788 1234211 11884774 8246253 42214685 3415283 6554862 27593434 7243513 DISBURSEMENTS Net Losses Paid 1396098 43350 9843308 290726 1849039 3133828 387900 521162 415463 924215 146072 4268813 2889730 638767 709792 428977 7537421 1293333 2021305 476597 138715 559953 4593017 3486213 17477351 1107864 2644535 11217334 3229226 Total Disbursements 2790732 61339 21873784 633371 3496513 6892981 1287007 714853 1090691 2573887 418185 11980091 6633225 1683197 1853161 1100415 14494546 3520233 4388225 1408711 5010981 1183292 9757534 9617849 7889474 41180335 3003648 5608411 24636338 6252029 Miscellaneous business only Life business included MISCELLANEOUS COMPANIES GEORGIA BUSINESS 1921 Aetna Casualty and Surety Co Aetna Life American Casualty American CreditIndemnity American Indemnity American Surety Co Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses American Mutual Liability Co American National Insurance Co Vre American ReInsurance Co Toss Premiums Losses f Premiums Losses Carolina Life Cloverleaf Life and Casualty Pl Coumbia Casualty Columbian National Life Premiums Losses Premiums Losses Continental Casualty Premiums Commonwealth Casualty Employers Indemnity Corporation Premiums Losses Employers Liability Assurance Corpn Premiums Equitable Life Assur Society Premiums Losses Federal Life Federal Casualty Premiums Losses Premiums Losses Fidelity and Casualty Co Premiums Losses Fidelity and Deposit Company of Maryland Premiums Losses Fidelity Union Casualty Co Premiums Losses General Accident Fire and Life Premiums Losses Premiums Losses Globe Indemnity Co Premiums Losses Georgia Casualty Co Hartford Accident and Indemnity Co Premiums Hartford Live Stock Insurance Co Premiums Losses Accident 14671 3385578 613431 730342 440958 5669465 923551 18320880 9773955 3476670 1364364 111609 Health 5828 1707432 844175 AccHealtb 5669465 3568698 Auto Liability Cr 4567 171440 2641295 2118810 11973 55 590930 955266 183825 Liability j in Auto 2077 1330362 1419022 90203 217376 55800 522905 648812 444558 20245 4236374 1350513 213273 43156 326603 731025 797985 100713 333534 128278 I 947993 360053 3339991 4573191 1425296 1681050 153783 368875 405729 76374 Industrial AccHealth AceHealth 98179 19072 261011 139907 AccHealth 62340 1417366 1050384 237524 111056 1336819 997040 AccHealth 4620396 2679557 1324478 101150 364470 1900 160267 10000 1529874 399900 1748281 1164732 1345181 700919 503641 83520 4934035 3858710 179673 41253 1281456 658791 292558 129313 1872184 279456 326235 483685 Physicans Liability 217952 34325 2246322 1563850 2607666 1434925 5398 5000 81907 91550 3347894 1444449 705312 135565 312647 93576 Workmens Compensation 3309301 787231 Fidelity 1168227 434896 6149370 1235928 1126800 162775 60031 14200 157650 6748 2380897 549364 1862533 219333 1853393 676095 484000 149563 7235297 2450534 2361913 357010 855722 151448 7823009 12998018 Surety 1229153 965464 6178073 3260200 719388 1163617 1347378 748612 5969970 837470 5820932 959272 542310 1684633 20843 Plate Glass 411819 116545 482013 235028 306282 87971 37441 5284 232088 181841 1165699 359208 1380 946491 334005 629541 218758 465592 152492 Burglary and Theft Credit 608293 481679 99744 40182 3041 10285 799056 236260 432502 379861 192339 141780 1741351 1227948 370719 301921 47465 306987 94710 213003 55167 684098 126477 1765183 173713 Sprinkler 266717 71287 Workmens Collective Steam Boiler 43470 737540 Engine and Fly Wheel 207504 114170 81213 Auto Property Damage and Collision 51480743 1396942 Property Damage and Collision other than Auto 792839 555145 410843 190498 156610 19725 834198 482926 127508 51148 99357 4300 955607 517176 1348992 729317 268590 78360 3113156 2211059 777291 499666 1248994 780231 7818 875 990 8382 6145 19856 5350 3480 7051 6365 10308 1756 23360 50 257 20000 1300122 1179184 TOTALS Premiums Received 5402924 123773968 33992496 1765183 i369L50 6853861 11338930 4750 i45920Sb 18320880 347667b 4491490 783916 444668 6303026 631380 8223806 2134804 333534 947993 19273518 12369724 1858791 4160941 200921184 7573978 9175918 1800122 Losses Paid 3639128 5782669 1862243 173713 384608 1795138 4492249 9773955 1364864 1268080 788719 82585 2473429 64204 4202137 l0077J 128278 360053 12481997 4521393 681095 2784962 10399832 3500458 2578872 1179184MISCELLANEOUS COMPANIESContinued GEORGIA BUSINESS 1921 Liberty Mutual Insurance Co Life and Casualty Insurance Co Lloyds Plate Glass Insurance Co London Guarantee and Accident Insurance Co Limited Loyal Protective Insurance Co Lumbermens Mutual Casualty Co Lumber Mutual Casualty Co Manufacturers Liability Insurance Co Maryland Assurance Corporation Maryland Casualty Co Masonic Accident Insurance Co Masonic Protective Association Now Massachusetts Protective Association Massachusetts Bonding and Insurance Co Metropolitan Casualty Co Metropolitan Life Hartford Steam Boiler Inspection Co Premiums Indemnity Insurance Company of North America Integrity Mutual Casualty Co InterState Casualty Co InterState Life and Accident Co Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses Premiums Losses National Casualty Co Premiums Losses National Life and Accident Insurance Co Premiums Losses National Life Insurance Company of U S A Premiums Losses National Relief Assurance Co Premiums Losses National Surety Co Premiums Losses New Amsterdam Casualty Co Premiums Losses New York Plate Glass Insurance Co Premiums Losses 70226 40278 2470 4881141 2053656 f 7918592 3343744 See Life See Life 1570261 442073 206020 129340 See Life See Life 3899507 3105187 2684469 1849804 6474210 6614712 2179009 1228574 I 2960 976622 383803 See Life See Life 9724730 3888619 2611045 1048006 158980 16601 Health 265888 110704 2982 AccHealth Weekly AccHealth Report Report 1580069 684474 Report Report 3001226 1513657 Ace Health 22980 31427 Report Report Ace Health 126083 35173 Auto Liability 2466470 318950 1184883 1635 1736565 782260 41679 3230547 1401794 395383 64900 5022834 2292331 308465 62382 546311 264485 Liability other than Auto 104629 50000 2640 2912 2214953 984212 1853 10885487 6215646 3526 10000 64659 67925 Physicians Liability Workmens Compensation 29547 537500 637162 64001 525956 333890 3485429 893342 1074883 312609 107650 59566 50725 11971471 2982862 528068 159518 Fidelity 276205 Surety 217212 593176 152446 350251 101469 7479322 14486512 1699352 1105893 593642 1720000 4492610 2147715 Plate Glass 1015927 46279 36786 429377 309753 2144229 702779 666580 92210 489999 313580 271605 253801 866508 364754 Burglary and Theft 375626 78100 Credit Sprinkler Workmens Collective Steam Boiler Engine and Fly Wheel 30807 1270 312288 15955 599505 529501 2192495 850506 166500 50990 228874 35660 7845 377686 75313 55935 677902 220011 156243 8200 5485 22200 996708 80500 100517 3170 Auto Property Damage and Collision 1270289 326613 405826 42669 917670 1038254 22029 1639425 986483 188632 60618 3760 3133518 2317166 199436 130592 389986 226440 Property Damage and Collision other than Auto Live Stock TOTALS Premiums Received 16733 1950 27205 26786 29547 1800 5306 i 3393035 7205104 2124757 2691081 12799733 67620 429377 14880579 206020 1708883 111410 52578 45579409 2684469 6474210 4457409 489999 25940 976622 9724730 2611045 12649834 2243735 866508 Losses Paid 142963 1034925 378194 1820514 5397400 309753 5931674 129340 438187 59566 22083942 1849804 6614712 3376217 313580 31427 383803 3888619 i648o06 16854238 10374749 3647B4MISCELLANEOUS COMPANIESContinued GEORGIA BUSINESS 1921 Accident Health Auto Liability Liability other than Auto Liability Workmens Compensation Fidelity Surety Plate Glass Burglary and Theft Credit Sprinkler Workmens Collective Steam Boiler Engine and Fly Wheel Auto Property Damage and Collision Property Damage and Collision other than Auto Live Stock TOTALS Premiums Received Losses Paid North American Accident Insurance Co Premiums Losses 2091970 695985 2691970 Norwich Union Indemnity Co Premiums Losses Ocean Accident and Guarantee Corporation Premiums 24914 783244 183165 2391629 1400699 611737 260807 7222491 3357263 f 461363 348036 382946 288289 571575 538812 4612585 1780591 195717 34965 9039993 3892772 43800 7500 1176753 549584 1454665 1038945 642 10000 14220 633850 434862 2364420 937077 145906 112043 Ace Health 588520 350857 266112 4035282 2108071 566816 758170 50064 4300 3004589 564639 359219 4675 6645307 1194484 90310 4995 1031549 270617 128358 135432 595043 356467 138970 16427 823200 340101 131394 64142 244773 22626 104408 27298 2363547 1675980 266896 74074 26955 21906 10069 1060340 20313684 695985 190920 Losses Losses 4756049 1730325 7225223 2337776 Provident Life and Accident Premiums Losses 7222491 1049883 382946 3357263 Losses 698893 Royal Indemnity Co Premiums Losses 300662 181446 1812289 1080506 16250 6250 2118474 929816 29000 15000 9354 01 639783 1086198 437590 1948115 269498 1102273 352996 793137 655507 73431 209000 V 2229711 362656 673252 93536 1150155 784356 910242 885959 358365 400298 227038 112509 1500000 30858 925501 350638 686292 503724 4724290 3175722 990 10035899 288289 Standard Accident Insurance Co Premiums 3600 8963722 5228356 Travelers Indemnity Co Premiums 918610 178778 2817618 1025483 590395 255030 791614 349827 74468 211260 10128962 48110874 4020353 Travelers Insurance Co Premiums 9820766 2874309 133181 7500 2268838 733244 9970869 3195972 228941 62500 63983873 25229961 5888146 4091819 65697 162434 95 4003401 2227 5237315 Losses Union Indemnity Co Premiums 13368 39455 49328 6484 76168 7221 1311328 700276 2753326 1196301 94404 53962 33091459 20410524 36900 1800 9180 41835 495608 United States Casualty Co Premiums 1340649 1645205 6290360 1699565 11104760 5238350 221123 63743 1450863 516333 297499 256046 2824699 516461 37835 23492 280253 53537 5690933 2115117 1462868 391578 13851131 39021 United States Fidelity and Guarantee Co Premiums 5971823 4243629 11038657 2689252 6329281 Losses 47693695 423460 13500 36399474 21197700 Zurich General Accident and Liability Insurance Co Premiums 747447 Losses 136911203 61720354 32211330 17858599 29547 537500 89768200 24162684 33070375 38373755 34239001 10445909 15297084 5167119 16919099 7366932 2817257 513814 644403 246600 264910 319547 1329412 1299184 129962 487704962 237310473 INDUSTRIAL LIFE HEALTH AND ACCIDENT INSURANCE COMPANIES Financial Condition as of December 31 1921 and Business Transacted During the Year 1921 Admitted Assets Liabilities including Reserves but excluding Capital and Surplus Paidup Capital Surplus INCOME DISBURSEMENTS Total Insurance in Force Paid for Issues in 1921 BUSINESS IN GEORGIA IN 1921 STOCK COMPANIES AND LOCATION Premiums Received Total Income Paid to Policyholders Total Disbursements Insurance in Force Insurance Issued 1921 Premiums Received Claims Paid Losses Incurred 243814 133879 52460 408512 165521 10043 12005 7365 24748 8783 9057 4919673 1615457 193610 91295 25990 209543 81701 9949 9482 3085 20363 8239 4577 1386307 599776 25000 25000 25000 26000 25000 25204 17585 1469 172969 58820 94 2523 4280 4387 544 4480 3533366 1015681 958792 606266 253106 2374060 723240 41008 92035 59381 259648 37242 31153 2289704 1165382 973442 611722 260461 2388652 742605 50024 93716 60946 262727 42595 31937 2528463 1242399 406141 281314 108810 1113250 365182 22868 39655 27771 127988 14630 13091 621880 463681 920103 597687 259077 2381241 723860 1 49114 93693 61174 260759 41253 31505 1639814 893760 9464493 3290331 1957220 2912090 6293499 3290331 1137830 2912090 676727 606266 253106 1205338 723240 Death 75485 Sick Ace 225210 D 40215 SA 242604 D 17432 SA 91427 D 94746 SA 484810 D 64989 SA 300192 75485 227632 41765 255189 18168 103234 96984 491577 66908 11127538 3886803 201783 Life 2592 6624000 2097368 292310 Life 1647 5710496 3886803 2829018 2097368 8976300 D 292867 SA 1344243 299310 1381619 19181129 3464677 MUTUAL COMPANIES 201783 2592 292310 1647 41101 92035 59381 259648 37242 31505 Total 1637110 D 3853 SA 19015 D 6916 SA 32739 D 4652 SA 23119 D 17920 SA 110069 D 1905 SA 12724 D 1810 SA 11281 1680929 4118 19161 7410 Fireside Mutual Atlanta Ga 36524 4652 Georgia Mutual Industrial Life and Health Augusta Ga Life 895077 128323 Life 14388 56457 895077 128323 14388 56457 23287 18564 Liberty Mutual Life and Health Savannah Ga 113843 2008 Peoples Health and Life Macon Ga 13767 1920 141895500 71156000 29175000 11235500 11404 1227775 364802 520912 D 37056 SA 208947 38672 ASSESSMENT COMPANIES OF OTHER STATES 69500 186000 255500 5000 1277 3020 217986 Total 246003 256658 Total Georgia Business of Industrial Life Health and Accident Insurance 5000 4297 D 329923 SA 1553190 20664404 9346102 3989886 337982 Total 1883113 1937587 ASSESSMENT FIRE COMPANIES Showing Business Transacted in the State of Georgia During the Year 1921 NAME OF COMPANY AND LOCATION Admitted Assets Liabilities Surplus Premiums Received Total Income Total Disbursements Losses Paid Losses Incurred 54965 171348 7401 748809 No 431500 15338 781084 1151 573402 105902 38140 1050 54965 37338 7401 743989 421500 15338 227484 1151 468402 105902 24140 24965 300606 4448890 482056 1643500 383668 415679 165850 1213200 373234 203284 734875 54965 300606 4448890 498904 1643500 383668 862368 165850 1213200 431117 203284 734875 Bartow County Mutual Fire and Storm Adairsville Ga Farmers Cooperative Fire Insurance Co Jackson Ga Farmers Cooperative Insurance Association Rome Ga Farmers Fire Insurance Company of Oconee County Watkinsville Ga 134010 218950 4453230 453164 1525854 538666 1152140 166530 1134285 358747 206984 758225 134000 3980538 328367 1343500 503125 1001490 107877 565732 322374 41200 588878 257000 3980538 4820 Report 10000 328367 1353500 Farmers Mutual Insurance Association of Walker Co LaFayette Ga 503125 553600 1151490 160000 Georgia Farmers Fire Insurance Co Gainesville Ga Gordon County Mutual Fire and Storm Calhoun Ga Southern Cooperative Fire Insurance Co Macon Ga South Georgia Farmers Fire Insurance Co Thomasville Ga 105000 750732 322374 14000 36000 41200 624828 TOTALS 10389807 10941227 10965776 8917081 9473154 No Report SOCIETY AND LOCATION American Insurance Union Columbus Ohio American Woodmen Supreme Camp Denver Colo American Workmen Washington D C Benefit Association of Railway Employees Chicago 111 Men Hur Supreme Tirbe Crawfordville Ind Catholic Knights of America St Louis Mo Columbian Circle Chicago Ilh Columbian Mutual Life Assurance Society Jackson Miss Fraternal Aid Union Lawrence Kans Golden Cross United Order of Knoxville Tenn Golden Seal Order Of Roxbury N Y Grand Fraternity Philadelphia Pa Heralds of Liberty Huntsville Ala Knights of Columbus New Haven Conn Knights of Pythias Indianapolis Ind Maccabees The Detroit Mich Masonic Mutual Life Association Washington D C Masons Annuity Atlanta Ga Modern Brotherhood of America Mason City Iowa Modern Woodmen of America Rock Island 111 Mosaic Templars of America Little Rock Ark National Union Assurance Society Toledo Ohio Order Brith Abraham U S Grand Lodge New York N Y Praetorians Modern Order of Dallas Texas Railway Mail Association Portsmouth N H Royal Arcanum Boston Mass Royal Neighbors of America Rock Island FRATERNAL BENEFIT SOCIETIES Financial Ondition as of December 31 1921 and Business Transacted During the Year 1921 in Juvenile Branch Senior Branch Security Benefit Association Topeka Kans Travelers protective Association of America St Louis Mo United American Mechanics Junior Order of Pittsburgh Pa United Commercial Travelers of America Columbus Ohio Womens Benefit Association of Maccabees Port Huron Mich Womens Catholic Order of Foresters Chicago 111 Woodmen Circle Supreme Forest Woodmen of the World Sovereign Camp Omaha Neb Workmens Circle New York N Y Admitted Assets 1319747 835053 180809 657436 3291866 1096779 583878 2085232 4110926 156098 897840 616686 131219 14003313 13895525 20677916 4532698 996511 5536137 28234936 665905 3317848 165377 3552030 183039 11632054 25496 9693544 2522319 818897 1070641 1621319 16198228 4621500 10740520 48964278 1958761 Man Liabilities 226728 20856 1952 I 9i9 1 192 59494 183417 2033811 2449690 5721235 4296533 716977 297716 2325515 82019 273829 30934 Actuarial Ratio of Assets to Liabilities 3 classes 2 classes Per Cent 10618 10513 10054 109 97455 17122 10054 10252 10236 100 I 10415 8224 1117 90 697 13014 110 I 684 1157 103 Ctf Rerated 82S75 Dtf nonrerated 11571 5604 8012 INCOME Steprate class Level Rate class 786 1062 9629 I 16016 3 classes 10006 I 6278 Accident Bene fits Only 9856 13894 7213 Accident Bene fits Only Accident Bene fit Only 387 10051 10018 10284 1012 11162 From Members 2252485 487460 157108 1039002 1699776 469644 722673 804384 3479344 431434 230575 276374 392649 3800231 2856389 7825629 2600636 301523 1236020 24652768 425097 3272944 335116 1041578 150870 6367580 38306 6149831 3938823 827444 477160 1285139 3345899 1541890 2756125 14272472 1034567 From all Sources 2390404 536143 164653 1054363 1869288 522853 820930 933228 3632260 436703 325976 338135 395624 4469562 3522761 8657513 2807474 360269 1551752 25772244 448191 3364625 350527 1281345 1583S1 6837024 38553 6497560 4045394 866440 527388 1381878 3990482 1757149 3259181 16959490 1179308 DISBURSEMENTS To Members 1545196 131887 25048 435381 899276 400306 603435 394928 1973377 361743 111184 132631 234404 1217933 1774916 5975203 412433 263233 793907 16741450 320367 2044613 298851 454774 111297 4621349 7405 2641566 2764129 622517 140978 911092 1677138 1104557 1238468 8080343 285607 Total Disbursements 2147706 344428 124990 860735 1270959 495473 892298 717746 417961 217347 288052 695985 2056585 2366908 7741031 1604837 407995 1006863 19170544 450216 2832521 336659 825837 128890 5029778 22957 3285539 3764455 775679 257877 1198422 2525108 1287190 2056965 11237829 744858 Total Amount of Certificates in Force 111113967 24678700 2395900 2883000 72740730 19118538 25930112 31003331 85236567 13619375 12396140 12748854 236613862 112148943 Certificates Issued Dur ing Year 327229182 101222295 2304700 57274451 1612347500 39994500 63899580 8642500 44705742 64952000 211289834 4222590 394407250 277020271 502020000 29128000 520680000 184773884 78940200 142850435 693071171 22136600 15830892 11987950 460350 864000 9449415 698500 1775000 65985 6934277 854000 4985550 1767469 1235500 32118000 13336500 15268500 42448000 671900 3982500 89874000 3623700 1126646 136750 12676560 11316000 6154500 1560050 23949500 32908500 100670000 7293000 64035000 27560350 3704750 9469500 34978000 2746000 Georgia Totals BUSINESS IN GEORGIA IN 1921 Certificates in Force 123121 84500 1779900 683100 32500 550500 244394 10000 1426275 1188224 21750 258250 187515 206500 495850 4149982 1416000 1595500 1000400 151500 5692500 1339200 1206770 12000 1204290 7724000 3355751 46500 54500 Written in 1921 15850000 488000 4910000 577950 2933232 26155740 75100 81108173 733650 69900 500 178147 3000 50000 75000 45000 79431 2500 31000 375500 164000 1411750 242300 3000 577500 104100 Premiums Received from Members 1000 1696750 360000 27500 8250 1000 3165000 42500 350000 138500 555000 2886850 8700 13387328 1293 38201 30050 10869 9438 6865 31202 48153 407 6110 4736 4550 B 938 102355 22171 24949 141323 2477 93840 11930 68308 2438 25516 4207 122004 1095 1082 34277 9150 11570 10344 Claims Paid 53817 554663 2250 1500478 10510 7545 9100 2500 4023 23503 23525 3081 1000 7000 48855 17638 7500 11400 1000 56000 8500 29000 500 S500 3633 132122 500 11755 5950 10719 1505 Claims Reported 26239 5626 1438 486167 20663 7852 9845 4500 5000 33003 27432 4060 1000 9500 7000 62249 17938 7500 11400 1000 67500 12900 33000 854 10500 3633 137872 500 21587 11200 25258 2500 30653 7976 1642 597517 Fraternal Societies report under a socalled Solvency Ratio tabulated as above but which affords no indication of the legal solvency of the society under the law which stipulates that a fraternal society shall e held to be legally solvent so long as the funds in its possession are equal to or in excess of its matured liabilities The Solvency Ratio is derived by taking the present value of promised benefits and setting aside such sum as a reserve for payment of such benefits If the ratio is below 100 per cent the probability is that rates must be increased in the future to enable payment in full of certificate obligations If above 100 per cent it is an indication that present rates are adequate with proper management to meet all certificate obligations This company since February 4 1922 has refrained from writing new business operating under the care of temporary receivers pending decision of the Supreme Court of Georgia on appeal as to the right of the company to cease payment to beneficiaries under Class B inadequate rate certificates Pending such decision no valuation was required by Insurance Department1I UNIVERSITY OF GEORGIA UBWffif 210a 05424 215b