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HomeMy WebLinkAboutThe Goderich Star, 1934-02-22, Page 7•: r P Metropoli •tr • • 4• ' ''J tour 4uriz n esen r Ivo; cke� c par4ons whichons s by the five difficult years since 19 • OUCOOUT . a period of a'RS►t unparalleled, ,'►lr�d-�•° . Wide, de» res-/iF t . I.e •» ° ` 4 on �8 . �nSt�tut>i+an of Lite Insurance.- A n this continent has furnished an - example of achievement that admiration wherever it understood. wins• . Between January 1st, 1929 and January 1st, 1934, the Metropolitan Life Insurance Company," which insures the DIMS of • morethan, 25,000,000 persons- nearrly one-fifth of the total populations of Canada and thet.upnited States --paid to its policyholt :end their benefices more• Than. Two Billion �!+ V ($2,000,000,00). p _ During the same period, its policyholders contributed, through their premium payments, toward - Vhe increase ° sof mere than • One Billion Dollars 4i,tJt+pa► in the assets held for futuro distrlbu ion to themselves and their beneficiaries. Q After payment, during that:period, of more than Four Hundred and . qty Million .Dollars 450 • �� ,tipU,4y br way -°of dxvdentis to policyholders, the Company's surplus was increased by more than One Ruiidred Mon Dollars ($100,000,000). These 1gures, of one company alone, are striking evidence of the reliance whichthe people of Canada and the United States place on the security and protection of life insurance. Life Insurance is the most effective and satisfactory means of providing for the future of one's self and one's dependents. to1,9 r r for 103$ fes rrit'by a ll"econ• a, breb:king. totaal ofomeot�i to',pollcy. Mholders; i n r, in sF $; an4 (declaration • of, the , thtrrd ; lnrgeHt` dividend to. Polley! lders In 'thhe Company's history,. l preSen,t :. dad' by they . Metr+op011tau oto Insurance Cotnpany',t9 it* more theta twenty".five, I111tif tiG tit 'po)tcyhotder, The. 'Collin a.,_en: lre�ly -mutual, having stodkholder`i. "obit* report give Striking eVidence of • the. reliance of the deo] ot• eanadu ,and tie Unit tatai a on the seen it7. ,and protectlOn of We ltmiuranee, un wore tbafl Two Billion: Dollar* hat been ,pttid, by the Metro- politan Life to Its po1Ieyholders., and their benel'$clarlee during the past trve ye*1 n. •In .1084 :452 Was raserveil for dividends to pollcyh(lderra . • The regular scale of 'dividends. on pre- mtum-paying policies are the some as those of a year:ago. 'including 11134 declaration, the Metropolitan since Ito 'organisation hats paaxid or credited a total- of $018,472,;210- to policyholders. lnl. the form of bonuses and dividends. Of, tltats amount $400,000,000 was -earned' and de- clared-during e-clared during the laSt four. -years. - • ,__ -December--31, 1928- ---December--3t- 1933- Increa fe lett Flue -Years —$3;860,761;19139-$1;1:65,28-5712-5:74. Statutory Policy Reserves _• . Other Liabilities . . . • , Surplus, includingContingency Reserve .. Insurance in Force • • • •. • _ - 2,374, t 18,707.QQ: 161,281,258.71 160,075,999.93 ▪ 16;371,956,002.00 3,358,462,467.00. 216,175,691.68 286, 123,032.71 18,802,984,818.00 984,343,760.00 54, 894, 432.97 • '126,047,032.78 2,431,028,816.00 During Dividends paid Policyholders- . . - , , Total paid, ,Policyholders • and Benefi r'''- ries (including_ Dividends) .. . • . • the year 19. 67,904,719. 8 During the year 1933 101,790,536.56 283,396,831.69 572,679.c".85 Total for Five Years 450,608,045.72 2,319,359,211.70, • Assets .. '• . L,labilities Statutory Policy Reserves . • Reserve for Dividends .payable". ial ..1934 upoan Industrial Policies . Ordinary Policies . Accident and Health Policia . - T�otal Reserve `for Dividends All Other Liabilities . Contingency Reserve - . . Unassigned Funds ,(Surplus Report for the- -Year Ending December 31, 1933 (In aocoraance with the M.nga7 :Statement -fil.Qi'with. the New -York $tate lneuranoe Department) • ;3,860,761,191.39. . $3,358,462,467.00 y '$45,232,899.00 ' • 48,188,553.00 1,809;000.00 AD • • • 95,230,452.00 120,945,239.68 43,00,000.00 243,123,032.71 $3,860,761,191.39 Income in 1933 . • °. ' • . . • • -871,233,003.33 Increase in Assets during '1933 91,388,766.11 1V,ofe—T e: value* used -for -stocks and for bonds not svblect-to-amorrtitaticm' those furnished by the National Convention of Insurance Commissioners. On the basis of market values, as of ; December' 31, 933, of stocks and of bonds not subject to amectizzltion . the Tot*] Aslsetit stre $3,837;923,11](121, thenge ci E eve $19,%2,514.81and the u ed Fiends (Surplus) ;243,123,632.71. . v Life insurance in force Ordinary Insurance . . . Industrial Insurance (premiums PaYsAbletVe,413r, or Monthly) Group Insurance • . Total Insurance in force • • Policies in .Force (including 1i 4—Group--Certificates ) • • • ;9,936,236,416.00 • 6,424,469,056.00 .. 2,442,279,346.00 . ;18,802,984,818.00 . _ a" • 41,660;510- Paid-for, 1, 60;510 Paid-•for, Life Insurance Issued, Revived and Increased in 1933, ;3,.174,994,475. Ordinary, °;1,583,300,706; Industrial, ;1,505,470,439; Group (escldtiding _ Increased) ;86,223,330. Accident and Health Insurance in force Principal Sum Benefit . . . . ;1,213,622,700.00 Weekly Indemnity . . • .. 12,536,918.00' Dividend's Paid to Policyholders to date plus those declared for 1934 . . . - • 59.18,472,210.17. .4. ' .. uyw..wrea:5 Insgram:it-1n force In .Canada at Ord inaty • . • • • • ! • Industrial . Group • ••. , . . CANADIAN'. BUSINESS end oti.933' $1,.009„213;37# $580,219,141 363,058,040 64,936,197 Yk nsurarnce Issued in Canada 10 933 • 52i3,630154' (indudinp twines* revival and, increaud) • Industrial • • • ' • • • s Group (excluding -increased) -----$116;438-,1:39.: _.._.. ° 95,524,241 s 1,676,474 Investments in Canada . • . Dominion and Dominion Guaranteed Bonds • , . Provincial, Mun1'clpal; Provin- cially Guaranteed 'and 'Mu- nicipally Guaranteed Bonds All other investntents • . • ✓ r • r ° $244,233,408.04 $51,200,019.77 111,459,189.60 • 83,574,198.71 Policies in kora) in Canada , • • • 2,64$,986 (including 86,681 'group certificates Granary; ........ • . . . , Industrial • . . , , Group (certificates) ., . • • • 397,399-• 2,215,006 36,581 Payments to Canadian Policyholders in 1933 $30,756,783.92 y UANir OMPANY aF METROPOLITAN F,RRDERICX H. ECIICF,R President LIFE 1NSURNCE Home Office: NEW YORK 11111' y'_ This is a mutual Company iThere are no Sto eho ers LEROY A. LINCOLN Vice President and General Counsel All- of its assets are held for the benefit of its Policyholders. Cana ian Head Office: OTT HARRY D. W'RIG.11"r ird' Vict rtaaident and Manager for Canada n'n.'Nru:cx WA J , ilA1t L Y D. WUIOUT fi ]sere] Vice -President and Maid -0r for Canada, Metropolitan Life In- surance Company, who reports in -- creased inveshhcrits in the Dominion. Commenting• on Canadian activtttes of the Company, Third vice -reset- . .dent". --Wright, _Iianager-for--tiara. -.-- sa,ld : "In ' 11133 we paid Outmore to our policyholders in the Dominion than In -any ,year r sinee we 't`ouat - meuced :business, here to x81~2. Dur - Ing t1, last five years the total amount, so paid was $116.074,416." It was `aim_ pointed out, by Mr. 'Wright that investments, of • the Metropolitan 'Lite Inn (`laf>ada had been Increased urUg the year to. $246,283,408; and that the amount af' Canadian busing, In forcateeededt One Billion Dollars. .• The total assets of the Chaspliny- on r)ecenther- 31st were $30300,761,- 101, an increase. of $u1.888; over- •' -31132: It was po1nteii out that one of - the principal changes in .the assets. ' _during the year had been an increase - In the bond holdings --chiefly in, Government, Provincial, 'State and Municipal bonds—arid in the cash: Item, placing the Company in an event more liquid position. A significant result of tate year's r pertith is was I,, that the demand for policy loans has greatly decreased, especially in the tart kw month&. The (-Company's total income for the year was .$871,288,(03. This was amply sufficient, to meet all the de- nlands of -the year: to make pay- . me.nts to policyholders, to pay ex- penses, to make the necessary addi- tions to reserve, and finally • to inc'reac the surplus funds to $243.- 122.032. An additional margin of Fnfety is contained In the Contin- . at°eny fiend of $43,000,Oo0. Payments to Metropolitan policy- noiders and their benefleinries, which pawed the half-billion-nutsk __. ._. in 1032, surpassed *vett that record last year, when $572,079,58(1 was dlsbitra;e 1 in the fora•* of .death .benefits, matured endowments, an- nultiera, dividends, dtiasatbility benefits. Gash surrender values,- etc. Of .the • total amount, $151,5R8,1174 Wats paid in settleinent of death claims and v. el l over $-100,0(x)1)00 to /lying p01ie`•hol(lers. Ther payments ave- raged $4,740.73 a minute ,,for each business day, The total. issuer], revived and lnerengol_. in 11)83 Ives .. 4 4 no -1; 475. Of this amount, $1.5.83,300.- 700 wa►s In the Ordinary department, $1.05,470,439 in the in(lustrtatl (pre-- miums payable weedily or monthly).. and $20.223,330 In the Cireup. The record wars roller] nil nt the average rate of 19,92') p0l014.4 for $10,,513,'87 on ealr-h business day of the year. The combined total I. in itself, more than the Company's-tot:tr of business In force nt the end of 1913 -only two ilecauies'ago- -.after it had been riving business for nearly ai lihlf-century. A diql-s t the -rens(. over 1932 wog registered in the. Ordinary depart- ment-a1,5S3,3(1(1,711(1 in 1!1.33, against 81.171.,:11).'3,135 during the preceding rear. The fora) amount of li'etrnnolitan safe insurance in forge at the end of •1 ,3 etas $12,202,9144.$18, which ai ount was sufflelent,to nssure.the ... ___ .... •- 1`etf'"ciliolia;atf6 continued nued suprettmey among all life insurance companies. Of the total In force. $9,930,2:30,410 vas In the Ordinary department. $0,424,489,050' In the intiitgtrial. and $2,442,279.346 to the (.romp. rf ad- dition, the Accident and Health in- surance in force totalled $1,213.022.- 700 principal sum benefit, and $12,- 530,018 weekly indemnity. The num- ber of life innurance policies repre- sented by the total insura)n+ a in forte was 41. ,510, including p? hl(1 t 3112,es614 lives 'hovered bpi Olin* , The daily (mega , of the Com- pans business In 1033 was Z020 per.ima 1n day in number of elattaa R1eid ; 0,E r (1A31k1ots -i � in tltninbf ,a of lite rrth v1ved;' 1IfF l*x affy' n . . in 10 r to + 'ia to 4. re,tveddnaili' .la : l +aroused t *2,221,47d' in. ps nts to icyholdenr an • *ddltinal tO It _ tis, old Sitei2,e1 h creess 10 wiStte. •