2
LIFE INSURANCE
ís
To the Young Man THRIFT
It enables him to lay a foundation for after years,
To the Family Man-PEACE! MIND
satisfies his desire to pro- vide for his dependents.
TotheBusiness Man-PROTECTI
Hprovides a sinking fund-is an asset to any busine
To the Widow-MAINTENANCE
It maintains the home f comfort, and provides an edu cation for the children.
What Is it to You?
THE
MANUFACTURERS LIFE
INSURANCE COMPANY
HEAD OFFICE,
Temonto, CANABA.
ARNHOLD & CO., LTD.
French Bank Bldg.
AGENTS.
HONG KONG
Tel, C. 1500.
klike
knew more almer tour varma plana.
de Smale. At present | casey kn NEBANT BAYER.
ROMANTIC RISE.
INSURANCE OF MOTOR VEHICLES.
Awww
tury. The chairmen of most of our great companies, who have recently reviewed the reports of their work in 1926, have almost
British
Insurance
abroad. Of a Fire and Accident premium income of
counted 25
NEW RECORDS.
MANUFACTURERS' LIFE INSURANCE.
INSURANCE SUPPLEMENT.
The Right Honourable Sir John A. Macdonald, the Father of Con federation and Canada's First Premier, became President of the Manufacturers' Life Insurance Company upon the formation of the Company and continued in that office until death in 1891, Though he and the nationally known group of men who estab- Bahed the Company have passed to their reward, the commanding position of the Manufacturers' Life is eloquent testimony to their foresight and enterprise.
The Company of Sir John's choice, like the Country that he loved so well, is strong, virlle and progressive. For forty years this Institution has written an ever increasing volume of business be- cause it has always given the in- surer the best in life insurance contracts. Standing four square on the principles of sound life insurance, its wonderful growth ia in keeping with the marvellous expansion of the Dominion of Canada,
To-day, the Manufacturers Life transacts business in 32 coun- tries and renders an international service to its vast array of policy holders.
The fortieth annual report of the Company, as submitted to policy holders and shareholders at the annual meeting recently, indicates a year of marked expan ulon.
Another record in now assur- ances was established. The new business for 1926 amounted to $70,630,396, bringing the insur- ance in force at December 81, 1926, to $361,166,647.
addition to the above, the Com- pany set aside $1,638,081 as divi- dends to policy holders to be pafd during 1927,
Surplus earnings in 1926 were very satisfactory and have made possible a further increase in the scale of dividends payable to policy holders.
the reports can be obtained direct from the Government printers for Canada.
L
The returns to the Government' of Great Britain will be found each year in the Board of Trade Returns,
The Insurance Act of Canada" and the Company's Charter can also be inspected at the offices of the Company.
·
A Big Claim,
Each holder of a participating policy on which all premiums due have been paid is a member of the Company, and entitled to It is claimed that the insured in attend all General Meetings of the a Canadian Life Insurance Com-" Company, and in the election of pany has the advantage in the policy holder directors, every such matter of rates, lower than those policy holder shall have one vote of companies of almost any for every $1,000 (£200) of Insur-other country, absolute security ance held by him on which all and adequate dividends for the premiums have been paid, and a following reasons:- holder of a participating policy 1. Because Canada is the for the sum of $4,000 (800) or largest and most prosperous self- over, upon which all premiums, governing nation in the British including the premiums for the Empire. Its Government. Bonds last three years, have been paid, are eagerly sought in the finan-
is eligula to be elected a Director cial markets of the world. The of the Company. At least one country is recognised as the third of the Board of Directora Granary of the Empire. The must consist, of participating natural resources are practically policy holders, and such Directors unlimited, and capital ao neces- are elested exclusively by the sary in the development of a policy holders. From this it will country of such magnitude com- be seen that the Company must mands attractive interest rates. be managed in such a way as to give entire satisfaction to the policy holders.
2. No policy holder has over sustained any loss through the failure of a Canadian Life Insur-
The Company has shown sub-ance Company. stantial growth during every year of its existence. As an evidence of the regard in which it is held, we quote the following official re- commendation:-
The Superintendent of Insur- ance for tha Dominion of Canada in commenting on The Manufacturers Life recently said, "The Mantifacturers Life Insurance Company is one of the larger Canadian companies, strong, well established and Prosperous."
In order to appreciate fully the The assets of the Company in-magnitude of the Company, it creased by seven and three-would be well to obtain a copy of quarter million dollars, and at the the Annual Report or the booklet, end of December reached the "Facts". containing the latest large sum of $67,643.709. Of official returns. this amount nearly thirty-two million dollars is invested in Gov- ernment, Government Guaranteed and Municipal Bonds. First mort- gages on improved real estate companies amount to nearly thirteen million dollars..
Death Claims.
The payments to policy halders also constituted a record. Death elms amounted to $2,159,421; matured policies. annuities, etc.. $2,720,951, and dividends to policy holders $1.327,787, Pay- ments to policy holders totalled almost twice the sum paid bene- ficiaries under death claims. In
country
host of native companies, with
ance Laws are an active force in 3. The. Canadian Life Insur-
the Dominion of Canada. The Gov. insurance business of the
ernment has appointed a Superin- tendent of Insurance in order that. the laws may be fully carried out. Qualification is the only considera- tion in his appointment. not interfered with by any politi- He is
cal party. His duties are to see that the life insurance business in Canada is conducted upon the plan designated by the Government.
item of income and expenditure, Extensive reports of every assets and Habilities, insurance written, claims paid, etc., are pre- sented to the Insurance Depart- ment annually, and the books of times to most rigid inspection. the Company are subject at all Every Company must have, sub- ject to Government supervision, amount of the Legal Reserve, covering the full that is, the present value of all Policy liabilities.
Government Audit and Report. The Legislation regulating Life Insurance in Canada, is probably more strict, and the Government Supervision more thorough, than securities in any other country in the world. The Imurance Act of Canada com- pels the Company to have its books always open to the inspec tion of the Superintendent of Insurance.
to the local agents, can examine Any policy holder, by applying the Report issued annually by the Canadian Government, and so know authoritatively the Com- pany's exact financial position, or
I have already mentioned. And, in by Britain for the conduct of in affairs. This is of course a serious
com-
Endowment Policy £5,000, the For Example: On a 10-year
Government Reserve increases at the end of 10 years, when the year by year, so that the amount policy becomes payable, is exactly $5,000.
agents in Hong Kong.
Messrs. Arnhold & Co. are.
We are safe to
IN A NUTSHELL,
MANUFACTURERS POSITION
-TO-DAY.
SATURDAY, MÁY 14, 1927.
40 Years of Progress
New:
Synopsis of 1926 Report
Insurance written - G$ 70,630,396. Insurance in Force
Assets Dividends to be paid
Policyholders in 1927
361,166,647.
67,643,709.
· 1,638,081.
SALIENT FEATURES. Record Volume of New Business. Banner Gain in Insurance in Force. Largest Payments to Policyholders and Beneficiaries. Increased Dividende to Policyholdara.?. Favorable Mortality,
Write for Copy of Annual Report Established 1887
THE
MANUFACTURERS LIFE
INSURANCE COMPANY:
HEAD OFFICE:
TORONTO CANADA
ARNHOLD & CO., LTD.
French Bank, Bldg.
AGENTS, HONG KONG
Tel. C. 1580.
BACK TO 1866.
MOTOR CYCLES.
ORIGIN OF FIRE INSURANCE
...BUSINESS.
INSURANCE RISKS EXPLAINED,
INSURANCE ABROAD. 6 American companies operating as The other form of Government over, endeavoured to outline broadly against 12 British and 2 British intervention is actual trading by our foreign insurance field.. We Colonial. There are no native cem- THE POSITION OF BRITISH
the Government in insurance or the saw how industrial activity and sea panies. (Perhaps the locals know threat of it, combined with restric-supremacy carried British insurance COMPANIES.
too much to insure themselves!).tive regulations. Here again, the all over the world. We saw how And there is only one other foreign situation is probably best met by national characteristics contributed Looked at in one way, the rise
Mr. P. C. Hunter, Joint Foreign company. In Salvador, there is one concerted action, through associate its success in foreign lands. We
native company, 7 British and 2 tions. of motor insurance is one of the Manager of the "General" Insur- Ame: ican. Egypt is perhaps the prevent fraud, Government inter-are being obtained to-day, thanks 1666 turned the attention of the Apart from regulations to have glanced at the results which The Great Fire of London in romances of our business. Cerance Corporation, writes in the most cosmopolitan
During recent years, with the the World. There,
invention is usually induced by the to organisation at Home and *we tainly it is the outstanding. fea- quarterly. "Review":-
in citizens to the need of securing rapid fall, in the prices of motor and attraction of apparently large many cases, I should add, to skill-protection against loss from fire. cycles, this section of the motor one rative company, 12 American profits, involving an unnecessaryed and loyal staffs overseas. ture of the last quarter of a cen- | actually. nearly as wide as British British Colonial) companies, and 21 eiations are naturally accused of of business, their differences. diffi- of the City, but the first effective. Portance than ever before. Ac-
"British Insurance Abroad," la companies, 71 British (including
tax on the people, and tariff asя0-
We There was much talk of action departments of insurance offices insurance, because, apart from the companies of other nationalities, conspiring to this end,
have touched upon various classes being taken by the Corporation has assumed far greater im- Life Field, by far the major part of Including French, German, Italian
It, there culties and prospects, We have step was, the formation of "The Cording to the statement issued by tariffs at a fair level, to provide the British insurance has a wonder- Office at the Backside of the 1926, 389,000 motor cycle licences interests are and Greek. In Chile, there is a fore, lies with such associations to sighted some of the developments Fire Office" or, as it was alter the Minister of Transport recent-
watch results closely, to keep and problems ahead. we have seen that £85,000,000 is compared with 32 British com educate the Public to understand a great future:
£120,000,000, whom compete only 3 American, as Public with what it needs, and to ful past, an inspiring present and Royal Exchange." The most in force. This will form some natively known, "The Insurance ly there were on February 28,
invariably touched this note. In from Overseas. The Marine in-panies, while all the other foreign the nature of the service rendered, be proud of it. It has been built active of the. founders was Dr., indication as to the great demand one of our largest companies the come of $18,000,000 may also be companies together number S. chairman recently said "Motor figures do not include any estimate these statistics that I feel we can
foreign, and these There is such a large margin in be faced by British companies in ing and a resolute determination to God Barebones of Cromwell's day, ance, and it is here proposed to Another difficulty which has to up on sound principles, fair deal-Nicholas Barbon, a son of Praise- there is for this class of insur- vehicle insurance has dis-
legislation, I mean the favouring of strength. We need have no doubts charter by the King in 1688, and the cover given by policies cover- the Foreign Field is discriminatory secure, above everything, financial This Company was granted outline the salient features of placed all other classes, including all, a foreign income of: say,curate view of the position, and we £120,000,000 out of £160,000,000, or workmen's compensation, as the three-quarters. Life business of in the British Empire, except in foreigners. It is a kind of "Frotee- draw inspiration from the thought until 1760, when it closed its
must further remember that with native companies at the expenso of as to its future if, in our work, we it continued to transact business ing motor cycle risks. course tells a different story. Of chief income-producer" in the
a total of well over £100,000,000 per
Canada, British insurance
In dealing with motor cycle tion" and takes the form of higher that we have, each one of us, a part books, com-
insurance consideration has al the accident department. That annum, only
are panies hardly challenged, deposits and higher taxation. Ils to play in this wonderful drganisa- ninth, A
This first Are crampany took for ways to be given to the fact that perhaps, £12,000,000 comes from except of course by their colonial supported (perversely enough in tion."" company is transacting motor in- abroad, but this is, I believe, sufi competitors. And here we should these days of the League of
its badge, and ultimately, its a motor cycle is necessarily Jes surance in no less than thirty-five ciently accounted for by the reasons remember that the genius displayed Nations) by a recrudescence of the
name, the fabulous bird, the stable than, say, a motor car, and countries. The growth of pre-1
Phoenix, which according to it may therefore be anticipated nationalist spirit in commercial. any case, if comparisons are made
surance business has been
Herodotus, who wrote in the 5th that more accidents will occur in mium income in motor insurance with the United States, the Home municated to the Greater Britain threat to the growth of our Foreign
Century, B.C., visited Helippolis, connection with motor cycles than income. has in truth been staggering, Field still affords a very wide scope Overseas..
Insurance Is, not a com-
in Egypt, every five hundred with four-wheeled vehicles. The to our Life Insurance producers.
modity that can be "dumped" like especially to those of us who Income, you may say, is not every.
The chief trouble looming ahead motor, cars, or cheap cutlery, nor
years. The story runs that when, addition of a side-car with the remember its curliest beginnings. thing, but I venture to guess that it is Government intervention. This is it easy to persuade its purchaser The following striking figures (age, some say five hundred und, for that stability which the four- the phenix reached a very old third wheel does not alone make is more likely true than the takes two forms. The first is the that the cheapest may not be the demonstrate at a glance the post-others fourteen hundred and wheeled car possesses, and ex- Looking at the subject, however, trary to cay that the foreign busi- demand for deposits. Every coun- best. Policies are more often tlon of the Manufacturers Life sixty-one years, it built for itself perience has shown that many in a more prosaic way, we can con- nesa of our companies is carrying try and Stute in demanding a valued by the words that are writ- Insurance Co. of Canada:- a funeral pile consisting of spices, accidents
the Heme, and that the dividenda heavy deposit of cash, practically ten, on them than by the capacity.
occur when motor sider that it is but a natural de- which shareholders are glad to re- a forced loan, on the pretext that of their writer to fulfill his under-
New Insurance and Insurance
settled upon it and died. Out of cycles with side cars attached velopment insurance following ceive come in fact from beyond the security must be provided for its taking. It is when the claim.e
In Force.
the decomposing body the phoenix endeavour to turn corners seas, These dividends and bonusce own nationals. closely on the heels of commerce,
Some of the decomes along that comparisons can New Insurance issued
rose again, wrapped the remains anything beyond a very moder- amounted in 1924, for 157 commands are nearly prohibitive, for truly be made, and I believe that in 1926 $ 70,680,396 of its old body in myrrh, carried ate speed. On the other hand, as it always has done and will do. parles, to over £9,000,000, and that cxample, take Brazil, where the reputation of British com Business in Force
them to Hellopolis and burned the motor cycle is much lighter The necessity for motor insur much is put to reserve, and helps a single Fire risk more than long way to help them over the does not include all the profit, as no company may Ensume .on panies in this respect will go a good
December 31,
them there.
than any type of car, and in view ance prose, and the demand was not only to keep the value of shares 40 per cent.
1926
Twenty years after this first of this it is reasonable to expect of the total met. However, there is more in rising, but to strengthen the finan-sum deposited with the Government. other means is to be like Ford (or fence of discrimination. The only
Phoenix came to an end a new one that third party claims at any it than that: the rise has been clal security, which is still more im-Some demands are heavy, for in- Morris), and establish a factory in Assets at December Phoenix Assurance Company, third parties, should not be 60
arose. This was the present rate for damage to property portant. I have no idea what the stance, £16,000 for Fire business the country to be attacked, by romantic. There have been pheno total funds of British companies alone in Cuba, and £50,000 for ni which I mean, to buy and operate
31..1026
67,643,709 which was founded in 1782 Heavy as those in connection menal expansions in the business, amount to, but I was a little sur classes, except Life in New Zea- a national company. It la not al-
Increase over 19257,808,755 There are some indications, of.a with car insurances. At the discover. prised to and great improvements in the 157 companies
that the land.
Each of the, Australian together a satisfactory scheme. It
Reserves. connection between the two same time personal injury claims forms of policies and in the cover £9,000,000 in dividends Tost Stales asks for about 26,000, and means more work and greater ex-Folicy and Annuity offices, but what, if any, this con may be quite as serious following
most of them are thinking of de- pense. But It looks to be the only year had a total paid-up capi-manding more.
nection was will probably never motor eyela, accidents as those given. No doubt there is room tal of only £35,000,000. Quite a point of requesting a mere matter I have endeavoured to show you
67,099,942: India is on the way. WM
6,963,543
be definitely established.
resulting from the use of motor for improvement.
no handsome return, and a good part of £16,000. All these demands two things, first, how vastly impor
cars. Another feature which more at the end of things either of it at least from foreign enter. have the effect of tying up the re- tant, the foreign field is to British Income
prize.
18,667,904
must always affect the under- in regard to polley forms, condi. If there may be room for doubt serves and splitting them up into insurance companies and, second,
writing of motor cycle risks is 2,355,778 the foregoing provisions, and in that so many motor cycles are tions, practices and premium as to the source of British Insur- fractions which are not available how outstanding in the position Payments to Policy Holdere. addition maintaining a Con-owned and driven by extremely
ance profits, there is not the slight-to nastat one another in the event they hold abroad. I have, unfor Death Claims eat doubt as to the dominating posi- of dienster, and it must therefore tunately, not been able to deal with
2,169,420 tingency Reserve of $650,000, the young persons who give no the development of the motor in- tion we occupy as foreign Insurers be obvious that in the long run the mechanism of the great indus- Matured Policies, An-
surplus amounts to $2,839,288. thought to other users of the dustry. There are very big in almost every country of the these deposits will defeat their try. I have not attempted to show nuities, etc. 2,720,951 An increased scale of dividenda road and will sacrifice anything So to policy holders has been author for the sake of speed. Not that things in store for the motor and Ing in various countries are almost safest must be vidcaps and induleafted by one exoperation abroad.
Summary we dividend periods in 1921-181 cycle users behave! in this man- World. Lists of companies operat avowed object. Insurance to be you the degrees of control; exer Dividends to Policy
7701,327,787 ised for policies completing their we would suggest that all motor for motor insurance. Our great always incomplete, but the follow-backed by liquid assets, and it must different areas of operation abroad. offices are very
much alive to the Ing Agures are instructive. In rest with the companies to educate li have barely indicated the difer The
Kearly thirty-two million ner, but such practices on the Spain, we have a sixth of all the governments by combined repreken-ences of language and custom en possibilities, and the importance Fire premiums. In Porto Rica, antations to a realisation of the wider countered. I have not even touch-polley holders has been increased are invested in Government. Goy cycles becoming Involved in for dividends to dollars of the Company's assets part of a few lead to many other of insurance is being more fully unattractive insurance country view, so that deposita may, he kepted on the financial arrangements to $4,314,279,
in which ernment Guaranteed and Munici- accidents for which the reatided by the public and by which might naturally be presumed moderate in size. Otherwise, the the dimculties of depreciated rex is he sum of $1,838,061 covering pal Bonds. First mortgages on no way responsible
are in to be under American rather than best developments of Insurance changes and the complexity of the Dividends British influence, we find there are must bey frustrated,
After making thirteen million dollara
We are
rates, than we are at the end of
“motor ownATA.
which.
con-
Assets.
Reserve Increase over 1925
Inconic
Increase over 1925
countancy@matiera, ... I have, how-holders in:
361,166,647
Dncrease
improved real estate amount to
ratios over the whole
at
with the
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