HomeMy WebLinkAboutThe Goderich Star, 1934-02-22, Page 7•:
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Metropoli
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' ''J tour
4uriz
n esen r Ivo;
cke� c par4ons whichons s by
the five difficult years since 19
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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
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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. -
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,__ -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,
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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)
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;3,860,761,191.39.
. $3,358,462,467.00
y '$45,232,899.00 '
• 48,188,553.00
1,809;000.00
AD
• •
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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 )
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•
• ;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 . . . -
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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)
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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.
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