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Title: Annual report of insurance business transacted in the Canal Zone, including laws concerning licensing of insurance companies during the calendar year
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 Material Information
Title: Annual report of insurance business transacted in the Canal Zone, including laws concerning licensing of insurance companies during the calendar year
Physical Description: v. : ; 21 cm.
Language: English
Creator: Canal Zone -- Office of the Governor
Publisher: Canal Zone Government
Place of Publication: Balboa Heights, C. Z.
Publication Date: 1961
Frequency: annual
regular
 Subjects
Subject: Insurance -- Periodicals -- Panama -- Canal Zone   ( lcsh )
Insurance -- Law and legislation -- Periodicals -- Panama -- Canal Zone   ( lcsh )
Genre: government publication (state, provincial, terriorial, dependent)   ( marcgt )
Spatial Coverage: Panama
 Record Information
Bibliographic ID: UF00097362
Volume ID: VID00001
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 05917385

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Table of Contents
    Front Cover
        Front Cover 1
        Front Cover 2
    Title Page
        Title Page 1
        Title Page 2
    Main
        Page 1
        Page 2
        Page 3
        Page 4
        Page 5
        Page 6
        Page 7
        Page 8
        Page 9
        Page 10
        Page 11
        Page 12
        Page 13
        Page 14
        Page 15
        Page 16
        Page 17
        Page 18
        Page 19
        Page 20
        Page 21
        Page 22
    Back Cover
        Page 23
        Page 24
Full Text



CANAL ZONE GOVERNMENT o



ANNUAL REPO'4



INSURANCE BUSINESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1961



Including Laws Concerning Licensing
Of Inuac Copne




4MW






CANAL ZONE GOVERNMENT


ANNUAL REPORT

OF

INSURANCE BUSINESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1961


Including Laws Concerning Licensing


Of Insurance Companies























Digitized by the Internet Archive
in 2009 with funding from
University of Florida, George A. Smathers Libraries


http://www.archive.org/details/annualreportofin 1961cana









CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR


BALBOA HEIGHTS, C.Z., May 1, 1962.


GOVERNOR OF THE CANAL ZONE,
Balboa Heights, C.Z.

Sir: There is submitted herewith a report of insurance business transacted
in the Canal Zone during the calendar year 1961.

Respectfully,

PAUL M. RUNNESTRAND,
Executive Secretar.y



The following companies were authorized to transact business in the Canal
Zone during the year 1961:
American Life Insurance Company___ Birmingham, Ala.
American Motorists Insurance Co._ Chicago, Ill.
American Surety Company of New York_ New York, N.Y.
Bankers Life Insurance Company of America ____ Dallas, Tex.
Colonial American Life Insurance Company-------- Corpus Christi, Tex.
Colonial Insurance Company ___ ______ Los Angeles, Calif.
Commercial Insurance Company___________ Newark, N.J.
Compaiiia General de Seguros, S.A.______ Panama, R. of P.
Compafia Internacional de Seguros, S.A _--_ --_ --- Panama, R. of P.
Compafiia Istmefia de Seguros, S.A. ______ Panama, R. of P.
Compafia Nacional de Seguros, S.A. Panama, R. of P.
Continental Casualty Company------_--- ------- Chicago, I11.
Continental Insurance Company______ New York, N.Y.
Equity Annuity Life Insurance Company _____ Washington, D.C.
Fidelity and Casualty Company of New York ____ New York, N.Y.
Fidelity and Deposit Company _____ ______ .. Baltimore, Md.
Firemen's Insurance Company of Newark ________ Newark, N.J.
General Insurance Company of America ------------ Seattle, Wash.
Gibraltar Life Insurance Company of America_____ Dallas, Tex.
Hartford Accident and Indemnity Company-____ Hartford, Conn.
Illinois Mid-Continent Life Insurance Company __ Chicago, Ill.
International Service Insurance Company_ _-____ Fort Worth, Tex.
Liberty Mutual Insurance Company_ ----___ ------- Boston, Mass.
Lincoln National Life Insurance Company _- -__ Fort Wayne, Ind.
Maryland Casualty Company________ Baltimore, Md.





Mutual Benefit Health and Accident Association Oma. Oi N-I..i.
National Surety Corporation ______ .. New Y.-'l. N.Y
National Union Fire Insurance Company Pittsbuii1 F'.I.
Panama Insurance Company Inc. ___ _Panama F;. ,.1 P.
Pan-American Life Insurance Company ____New Or- i.. La
Royal Indemnity Company_ __ New Y.'r 1. N Y.
Seaboard Surety Company _New Y.,i1. NA.
Service Life Insurance Company ____ Fort W._.. 11 Tr.-
Time Life Insurance Company_ _San Ant 'ii, -, T-.
Travelers Indemnity Company___ Hartfor I, rI
United Benefit Life Insurance Company Omilal i N. I..i
United Services Life Insurance Co. _. .._ Washing r., C
United States Fidelity and Guaranty Company ---------Baltinr.i..: 1.I
United States Life Insurance Company in the City of New York-
New I., N V

SIllinois Mid-Continent Life Insurance Company licensed in the C r. 7,,i..
November 13, 1961.





AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1961)

AMERICAN SURETY COMPANY OF NEW YORK


'. ... .. II . ,, ,
... L ------
, .......... t paid in Canal Zone


Net Losses
Premiums Paid
8108.52 $2,431.12
- $108.52 $2,431.12
$1.63


COLONIAL INSURANCE COMPANY


N,,,,i..i il. -other_
\ ,t. I 111 lily (B.1.) ---
.\.,r.., !.....-:ty damage __________
\i.. 1lh ... al damage ____--_________


Net
Premiums ns
$427.88
4,606.88
2,375.48
5,206.14


Total ----_ _- __-- $12,616.38
Premium tax paid in Canal Zone_ __- ---- --- $189.25

COMMERCIAL INSURANCE COMPANY
Net
Premiums
Burglary and theft ______ $191.53
\orkmen's compensation _______196,741.83
Liability other than auto ______ 7,337.52
Accident -_------ ____----------_ 55.08
Total _______________ $204,325.96
Premium tax paid in Canal Zone ___ --------- $3,064.89


COIPANIA GENERAL DE SECUROS, S.A.


.\,tto comprehensive --____ _______________
\'nto collision_________________
\,.to liability (B.I.)__ __________
SI spital and medical __________
.. 1to property damage __________
S.,rglary and theft__
Total -_- -
Ir.-mium tax paid in Canal Zone ______


Net Losses
Fremiums Paid
$64.42 0S.00
197.64 0.70
323.69 0.00
290.31 0.00
27.22 0.00
79.83 0.00
20.42 0.00
$1,003.53 $0.70
$15.05


COMPANIA INTERNATIONAL DE SEGUROS, S. A.
Net Losses
Premiums Paid
$1,573.09 $0.00


I .-,e


Total_ _----- $1,573.09
I '.mium tax paid in Canal Zone_____________ $23.60


Losses
Paid
$459.55
9,488.08
6,601.80
6,968.96
$23,518.39


Losses
Paid
$15.00
104,361.92
60.82
0.00
$104,437.74


$0.00






COMPANIA ISTMENA DE SEGUROS, S. A.
Net
Premiums
Workmen's compensation ---------- $2,259.15
Total ______------------- $2,259.15
Premium tax paid in Canal Zone-_ ____--_--- $33.8!-J

COMPANIA NATIONAL DE SEGUROS, S. A.
(No transactions in Canal Zone during 1961)

CONTINENTAL CASUALTY COMPANY


Inland marine __ _______
Accident_ __ __ _____----
Accident and health____________ _____
Hospital and medical expenses________
Group accident and health -----_-- _--
Liability other than auto (B.I.) -------
Auto liability (B.I.)_
Auto liability (P.D.) __________
Auto physical damage ____ ______
Surety_ -----
Total ___________
Premium tax paid in Canal Zone _________


Fire
Extended coverage
Total_
Premium tax paid


Net
Premiums
$7.42
228.67
4,950.42
154.55
2,762.67
64.3 .
2,501.5',
1,139.9-
5,030.0,
61.81
$16,901.57
$253.52


CONTINENTAL INSURANCE COMPANY
Net
Prem inin
$1,289.9')
__---__-_-____-_- 288.6ti
_---- -_ _ -_ $1,578.5'"
in Canal Zone______-- $23.6%


FIDELITY AND CASUALTY COMPANY OF NEW OtHK
(No transactions in Canal Zone during 1961)


FIDELITY AND DEPOSIT COMPANY
Ne
Prem,
Surety_ (cr.) $1
Total________________________ (cr.) $1
Premium tax paid in Canal Zone_ _______


t
ituns
.40.17
40.17
$0.01.


FIREMAN'S INSURANCE COMPANY OF NEWARK
Net
Premiums
Fire -________------------ $22,378.88
Automobile and motor vehicle -_- _ _ 141,813.78
Miscellaneous_ 1,335.71
Total ______________--------__ $165,528.37
Premium tax paid in Canal Zone __ ________ $2,482.93

GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1961)


L,. t
f ,i ,,l
ill 'ill
i 1 1111




Losses
Paid
$331.70
54,775.35
28.00
$55,135.05


I., ,,.l

.j ttfl


l. "l "
II II l

I 421 !I


11 1Il
24 7in
II IIII
1 1 111
1 1ii 4'
I '.' 1iii







/..., n.

Pa III
i!1 IIII





II \ITrF(TI.D ACCIDENT AND INDEMNITY COMPANY
Net Losses
Premiums Paid
\..1. .l-,,r $37.50 $0.00
H., ,Il, ,,,. i, ,.l ,r __ _ _ 42.50 0.00
\,I .. ... .1 ,I.i ____ _- ___ 0.00 45.60
\ .. i :. .:,:. :..: ,,:, n __ _ _ 272.73 0.00
L. .I.,I. .-.i,.:, II. ., I,,I.., (B.1.) _ _ _ _ 1,157.18 0.00
A.nt.. I1. i. PI i- _ ________ ____ _ 66.06 550.00
I.. lI .l..I. I _ ___ 28.60 0.00
-r,-..Il.. -_ -- --- _____ _4.34 0.00
T.:.I .I - - - -- _ $1,608.91 8595.60
I ... 11.r1. i .. ( ,I. .1 i (' inal Zone_ __ $24.13
IN ITII N TIONAL SERVICE INSURANCE COMPANY
Net Losses
Premiums Paid
I\,..:, I. ,l.d-r. ii i $7,958.60 $9,186.12
i.,:. l',r..!..:rr. .1 i, ,:. ._ _ __ ____ 3,987.91 3,476.81
,! i,:. i, .,.. ,1 ,I -- - 25,756.66 11,027.12
L.r l. ,rl l,, r ili , ,.. ro_ __-_ 36.00 0.00
.. -----------------------________ $37,739.17 $23,690.05
I! i i.. .. I' .,.Ii Ci final Zone _ ____ $566.09
l11i I IBERTY MUTUAL INSURANCE COMPANY
Net Losses
Premiums Paid
"*., .. .. ...r . ,.n-_ $218.00 $0.00
..r.. II .Il.l,. ,I I- - 447.00 800.00
\ir.. iI ,.liir. Ir.D __ 304.00 0.00
.\,r... .1.1 _________ __- (er.) 41.00 0.00
i..r l .. .- $928.00 $800.00
Fr-.... ,,, r,., i,..I i. Cinal Zone -_ ---- $12.84
1 4RYLAND CASUALTY COMPANY
Net Losses
Premiums Paid
H.. -I.r -I - - $1,858.90 $633.30
\...:..~1,, - - - - - -- - 621.93 0.00
! . -ll.h - - (cr.) 117.52 0.00
nl:r .... .. .1. 1. .i.ll i th- -- ------- _- -----_ 2,425.85 138.85
\... I I.I..dl. . - _______ ____ 19,761.55 3,245.00
I ihdl r. ..rl, r l.,,,, o_ 5,305.54 629.50
I .l-li. I-... . _ 2,241.45 0.00
S ...-. r _ _ __ ______ __ ____ 39,806.55 3,882.00
'. - ---- 144.65 3.15
IKrLlI., 1,-.1 --. I ---------------------__ 3,110.84 2,072.65
,i ,. i.r. ....r 1 i I -c.. 10,178.83 11,689.10
1.1 ,,I ..i.i, _ _____ ___________ 2,052.60 2,129.00
'i... rl .r 1 ,i,,IL. ..iI. r than auto 1,810.62 909.57
, ..ri .- ,..., r_ __ ______ 34,147.67 26,601.66
,,,.,,.-..I.- i-.l ,. ,1 .1 ,nage_ _ 24,316.79 9,281.53
- - - - ------ 3,747.87 70.00
i_ r ....-.:. I ,-.-.- .. ____ __ ___ 238.30 0.00
'Ii :l I .:..-_ _- ___ _ 75.00 0.00
IrI _ __---- -- $151,727.42 $61,285.31
1'r. n....., r, ,p,,1i ,. C al Zone .. $2,275.91





MUTUAL BENEFIT HEALTH AND ACCIDENT ASSOCIATION


Group accident and health _
Accident __ __-
Health and accident ____
Hospital and medical______


Net
Premiums
$8,153.27
263.55
61,367.78
- 662,730.47


Total ___----_ ----- ----- $732,515.07
Premium tax paid in Canal Zone-__---____--- $10,987.73


Surety-
Inland marine


NATIONAL SURETY CORPORATION
Net
Premiums
_____ $5,558.68
S 89.00


Total -----
Premium tax paid in Canal Zone____ ___-


$5,647.68
$84.72


NATIONAL UNION FIRE INSURANCE COMPANY
Net
Premiums
Automobile and motor vehicle _ _ _ $15,845.63
Total ___ __------------_- --- $15,845.63
Premium tax paid in Canal Zone ____________ $237.68

PANAMA INSURANCE COMPANY


{:,J



5'7 2 5
, '.,







'.,,..i
ill' lrl


$52.50


Losses
Paid
$16,260.38
$16,260.38


Fire _ __-----_ --_ ---
Workmen's compensation_ _ _
Liability other than auto _____
Surety __ _------
Automobile_________ _
Total _-______
Premium tax paid in Canal Zone_


Net
Premiums
$4,636.92
- 72,106.61
11,623.35
1,780.48
1,190.47
$91,337.83
$1,370.07


ROYAL INDEMNITY COMPANY


Liability other than auto (B.I.)_-
Property damage other than auto -
Auto physical damage __-___ __
Surety ___________-___ -_ _
Croup accident and health__ _ _


Total _______ __ _--_ -
Premium tax paid in Canal Zone___--____--


Net Losses
Premiums Paid
(cr.) $19.53 $0.00
(cr.) 1.72 0.00
210.65 13.50
22,933.59 0.00
9,245.08 0.00
$32,368.07 $13.50
$485.52


SEABOARD SURETY COMPANY
(No transactions in Canal Zone during 1961)


Losses
Paid
$0.00
12,803.73
2,944.36
0.00
594.19
$16,342.28


11111











.' .11 111 I" "


TRAVELERS INDEMNITY COMPANY
Net
Premium ms
.- 8116.79
$-- ---- 116.79
SCanal Zone ----------- $1.75


Losses
Paid
$0.00
$0.00


UNITED sTATES FIDELITY AND GUARANTY COMPANY
Net Losses
Premiums Paid
L i...,.i. ,i ..------- $58.33 $0.00
S.. I ......:., ,,. 21,604.17 11,406.62
- --,,-- -- - -------- 5,754.60 79.30
I,,I i.,i ... ...r. __________ _____- 651.55 0.00
...... _.___ __ ______ ________ 54.50 289.30
S,,,I ,., .., ill.... ..,ion_ 24,300.46 6,781.49
L[ .ln . 111.111 iuto (B.I.) --- ----_----- 8,805.49 4.15
...1.. 1.1'i. i. I i- ------- 28,002.23 24,870.83
\ i.. -.,.,.., ... _ _ 14,431.37 11,107.97
\,..r.i. 1.1'. i... I .1-.-, .... .__ 15,811.92 5,922.24
FI,, .-rr a. ,I i,,, :.-:. .rlI-r than auto_ _ 4,542.62 230.34
I ..- r, ._ __ 2,171.95 403.84
S.....r __ _ ____ 18,980.62 (cr.) 3,135.00
.- -l i II I- .1 11-.:Ii __________---------4.449.35 2,334.62
-..I .I ._______ 149,619.16 $60,295.70
i'r IIll.... 1 I II.l I., Canal Zone_ _ $2,244.29






AMERICAN LIFE INSURANCE COMPANY


ORDINARY


Policies in force December 31, 1960 _
Policies issued during 1961______
Total _______________________
Ceased to be in force during 1961 _______
Policies in force December 31, 1961___----
Losses and claims:
Unpaid December 31, 1960 --__ _______
Incurred during 1961-- _______
Total ___ ______
Settled during 1961____
Unpaid December 31, 1961____________


Number Anim'i.ti
167 $8 '-, -11t 1. II
5 2i :. i a
172 $83'1 -.'14 'i,
39 20'. 14r".
133 $634,249.00

0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00


CRou--None

Net premiums collected in Canal Zone during 1961:
Life Insurance_______ _______ _
Accident and Health ---___-______ _
Total __ ___________
Premium tax paid in Canal Zone___-- __ _


$3,767.51
$0.00
$3,767.51
$56.51


BANKERS LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Policies in force December 31, 1960 _--_ _
Policies issued during 1961__----------
Total ___________________________
Ceased to be in force during 1961 __ __
Policies in force December 31, 1961 -_---_______
Losses and claims:
Unpaid December 31, 1960 ____
Incurred during 1961 __
Total _______________________
Settled during 1961 -_____
Unpaid December 31, 1961______


Number Amount
3 $8,000.00
0 0.00
3 $8,000.00
0 0.00
3 $8,000.00


0
0
0
0
0


GRouP-None

Net premiums collected in Canal Zone during 1961:
Life Insurance __ _
Accident and Health ____________
Total ______________
Premium tax paid in Canal Zone __________


$0.00
0.00
$0.00
0.00
$0.00


$281.2h
$0.00
$281.28
$4.22






COLONIAL AMERICAN LIFE INSURANCE COMPANY
ORDINARY
Number Amount


Policies in force December 31, 1960_-_ -
Policies issued during 1961 -----
Total- ------------------
Ceased to be in force during 1961 _---
Policies in force December 31, 1961 _ -
Losses and claims:
Unpaid December 31, 1960 _-- ---
Incurred during 1961 - ----
Total _-__-- - - -
Settled during 1961 -_____-----
Unpaid December 31, 1961 -


7 $38,345.00
---- 12 78,712.00
19 $117,057.00
S 5 44,072.00
____ 14 $72,985.00


0
0
0
0
0


GROUP
Number
Policies in force December 31, 1960__ -- 0
Policies issued during 1961- - - -- 3
Total ___ _______--- ------- -- 3
Ceased to be in force during 1961 ___- -- --- 0
Policies in force December 31, 1961 _____------ 3
Losses and claims:
Unpaid December 31, 1960 _____ ---- 0
Incurred during 1961 --___-__- ------ 146
Total_ ____--------- ---- ------- 146
Settled during 1961 ------- ---------- 132
Unpaid December 31, 1961 __--- ------- 14
Net premiums collected in Canal Zone during 1961:
Life Insurance ___ - - -
Accident and Health_ ____ __-- --------
Total ----------- -
Premium tax paid in Canal Zone ____ _--
EQUITY ANNUITY LIFE INSURANCE COMPANY
ORDINARY


Policies in force December 31, 1960
Policies issued during 1961 _ --
Total ______ -------------
Ceased to be in force during 1961
Policies in force December 31, 1961 -------
Losses and claims:
Unpaid December 31, 1960__---
Incurred during 1961 ------
Total -----------------
Settled during 1961 ----_____-
Unpaid December 31, 1961 __ ---


$0.00
0.00
$0.00
0.00
$0.00


Amount
$0.00
493,250.00
$493,250.00
31,350.00
$461,900.00

$0.00
22,050.00
$22,050.00
19,950.00
$21,100.00

$21,262.13
$79,141.68
$100,403.81
$1,506.05


Number Amount
22 $22,000.00
0 0.00
22 $22,000.00
1 1,000.00
21 $21,000.00


0
0
S 0


$0.00
0.00
$0.00
0.00
$0.00


CRouP-None
Net premiums collected in Canal Zone during 1961:
Life Insurance _
Accident and Health __ _--- -
Total ______--- -----
Premium tax paid in Canal Zone__ __


$6,316.86
$0.00
$6,316.86
$94.75


iiii






TIE GIBRALTAR LIFE INSURANCE COMPANY OF AMERIC\

ORDINARY


Number
Policies in force December 31, 1960 __ --- 1,331
Policies issued during 1961 ___ -- 93
Total __ ______--- -------- 1,424
Ceased to be in force during 1961__ 235
Policies in force December 31, 1961 1__- ---- -- 1,189
Losses and claims:
Unpaid December 31, 1960 __--- ------ 0
Incurred during 1961______________ 3
Total _______ _ ___ 3
Settled during 1961 ________________ 3
Unpaid December 31, 1961________ 0


GRouP-None

Net premiums collected in Canal Zone during 1961:
Life Insurance____________________________
Accident and Health_ _______________ __
Total ________________ _
Premium tax paid in Canal Zone ___ _.___


ILLINOIS MID-CONTINENT LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1961)


1o,, '11111









illll ll
$5,2:- 4'-r, ,




$5 ,, ",7l a1l


SI -II I I nI

-' 1. I 1 I1 1
'i I I '-ll I III

11 III





$151,260.67
$0.00
$151,260.67
$2,268.91





I.I\COLN NATIONAL LIFE INSURANCE COMPANY

ORDINARY


!'..I|....- .i I ...... December 31, 1960
I. .,,. :. ....l,.l .luring 1961 -
T.l.Il- ------_ ------__
C t,_ I,,1 1.. II, force during 1961 _- -
l'..l..: .. i....... December 31, 1961
I..:. .: i. ..I .:I l in s:
I.i', i.. L). cember 31, 1960___
I ....!,:.1 luring 1961_ _ _
T. t, d _ __ -
,rr i...I l l,,ing 1961 _ ___
I.i.l ,..I i),:cember 31, 1961 _


GROUP

i', i.... i. t,.r<, December 31, 1960 _
I ,,I,,. .. .. 1 i luring 1961__


c.,,-.i, I... i' force during 1961_ ---_____
i',,!.... ,, ,,. December 31, 1961
1..'. in' I .-1 rnm s:
Sii-! ... I rvcember 31, 1960 ________
,, ..i... I .luring 1961-_-------

In l- -- - - -
,iorlI-, ,lining 1961______________

'. *,,iI De.cember 31, 1961_______
ni..I ir.l.... h collected in Canal Zone during 1961:
[_.t. Ili.,J since _ __ ___ _____ ____ __
.\ .i,. ind Health ___________________
T.-.r il.. ___________ __ __
t'.,-ii ..u... r I- .lid in Canal Zone ___ _ _


Number
1,659
113
1,772
114
1,658


Amount
$9,935,831.00
800,253.00
$10,736,084.00
869,097.00
$9,866,987.00


0 $0.00
2 12,930.00
2 $12,930.00
1 1,000.00
1 $11,930.00



Number Amount
3 $185,651.00
0 0.00
3 $185,651.00
0 (36,385.00)
3 $222,036.00


0
0
0
0
0


$0.00
0.00
$0.00
0.00
$0.00

$127,217.43
$3,097.57
$130,315.00
$1,954.73






PAN-AMERICAN LIFE INSURANCE COMPANY


ORDINARY


Policies in force December 31, 1960 _- -
Policies issued during 1961 __ ___ _____


Numb
23
1


25
1
23


Total ________ _------------
Ceased to be in force during 1961 _______
Policies in force December 31, 1961 ______
Losses and claims:
Unpaid December 31, 1960 _____- __---
Incurred during 1961 ____ _-___
Total ________- -----
Settled during 1961__
Unpaid December 31, 1961 ____- __


e)'
;9
2
.1
7
4

0
3
3
2
1


Gnoup-None

Net premiums collected in Canal Zone during 1961:
Life Insurance _____________ _ _____
Accident and Health
Total ____________________________
Premium tax paid in Canal Zone____ ___-- _


THE SERVICE LIFE INSURANCE COMPANY

ORDINARY
Number Amount


Policies in force December 31, 1960 ------- 14
Policies issued during 1961_ ____ _-------- 1
Total ____ _------- ------- 15
Ceased to be in force during 1961 ______ 3
Policies in force December 31, 1961 __-__ 12
Losses and claims:
Unpaid December 31, 1960 ______-- 0
Incurred during 1961 --- --- 0
Total ____________-- 0
Settled during 1961______ 0
Unpaid December 31, 1961____- -------- 0

Gnoup-None

Net premiums collected in Canal Zone during 1961:
Life Insurance____- -- - --------
Accident and Health ------------
Total ___-------------------
Premium tax paid in Canal Zone -___________ _----


Am..*,,t
$1,542 1.1 1111
184 i.i..n 1 ,"
$1,727 52.in"'


$1,633 I, H"

4 1111
27,606.u0
$27,636.00
12,000.00
$15,636.00




$20,766.92
$0.00
$20,766.92
$311.15


$48,318.00
7,500.00
$55,818.00
$25,000.00
$30,818.00

$0.00
0.00
$0.00
0.00
$0.1i .


$2,185. .1
$0.ii1
$2,185. 1
$32.7:-.





TIME LIFE INSURANCE COMPANY
ORDINARY
Nun
Policies in force December 31, 1960 -----
Policies issued during 1961 _ --
Total
Ceased to be in force during 1961 ---- __
Policies in force December 31, 1961_______
Losses and claims:
Unpaid December 31, 1960 -------
Incurred during 1961 _______- --


Total_---------_
Settled during 1961------
Unpaid December 31, 1961___


fiber Amount
9 $30,568.00
2 20.000.00
11 $50,568.00
2 6,000.00
9 $44,568.00


0
0
0
0
0


GRoup-None
Net premiums collected in Canal Zone during 1961:
Life Insurance ___ ___ _
Accident and Health ______________ __
Total -_________-____-- -___
Premium tax paid in Canal Zone_____ ____ _____

UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY
Number


Policies in force December 31, 1960 ____________
Policies issued during 1961 -
Total _________________________
Ceased to be in force during 1961 __--_
Policies in force December 31, 1961_______
Losses and claims:
Unpaid December 31, 1960___
Incurred during 1961_______ _____
Total ______________
Settled during 1961 ____________
Unpaid December 31, 1961 ________
GROUP

Policies in force December 31, 1960 ______
Policies issued during 1961__---- ----
Total__ _____ _______
Ceased to be in force during 1961 _______
Policies in force December 31, 1961
I. n'es and claims:
Unpaid December 31, 1960_______
Incurred during 1961___ _____
Total __________________
Settled during 1961 __________
Unpaid December 31, 1961 _________


74
62
136
5
131

0
0
0
0
0


$0.00
0.00
$0.00
0.00
$0.00



$785.87
$0.00
$785.87
$11.79



Amount
$159,938.00
380,388.00
$540,326.00
13,965.00
$526,361.00

$0.00
0.00
$0.00
0.00
$0.00


Number Amount
0 $0.00
1 40.072,500.00
1 $40,072,500.00
0 32,500.00
1 $40,040,000.00

0 $0.00
10 45,500.00
10 $45,500.00
10 45,500.00
0 $0.00


'...I premiums collected in Canal Zone during 1961:
Life Insurance__________________
Accident and Health_______ ______
Total _______ _______ _____
I'r.. iilium tax paid in Canal Zone _ _ _ _ _ _ _ _


$58,765.09
$4,927.30
$63,692.39
$955.39


::::






UNITED SERVICES LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1960_
Policies issued during 1961_ _
Total __ ___
Ceased to be in force during 1961 _____
Policies in force December 31, 1961 _____
Losses and claims:
Unpaid December 31, 1960 ___---
Incurred during 1961 ______
Total -_ -___ ___
Settled during 1961 ______


Unpaid December 31, 1961


Number
126
10
136
18
118


0


0


GRouP-None

Net premiums collected in Canal Zone during 1961:
Life Insurance_ _
Accident and Health ___________
Total ____ _
Premium tax paid in Canal Zone _.


$'71i 1 il I. i I
2(11 i III II.

1(11. : I Is. nI

.$881si Il l I


I I IIII



0.00
$0.00


$15,727.83
$0.00

-- $15,727.83
$235.92





UNITED STATES LIFE INSURANCE COMPANY


ORDINARY


Number Amount


I'.I... ,1 t,,r.... December 31, 1960.
F,,I.. .. . :..i,.l J ring 1961 _
1. ,I -
C -.1I ~ I.:. i.,: II. force during 1961
1 ..I..... ,, I,,r.., December 31, 1961_
S .. ... ,,I I ,,,i s :
!in! ... I D... ember 31, 1960 __
I....Irr. I.. ringg 1961


S-'l--i d,,,ing 1961_ ___
l iii,, .,1l ....-emler 31, 1961


ri.., -, I.-,, I.,.. December 31, 1960
rF .. -.. ,,..-.. hlnring 1961

T..-t -I --_ -_ -__
' ., d I", I.. in force during 1961_
F..I..... 11. l...r..- December 31, 1961.
......"- i,,,l 1,lns:


GROUP
Number Amount
--- 2 $1,851,431.00
2 376,074.00
4 $2,227,505.00
0 0.00
4 $2,227,505.00


I. .I..,.I i).. ember 31, 1960 -----
In.,i, ..I .li ring 1961_---------
Tr, I - -
Srrd..I .Ii.,ng 1961_________ ____

I.;, .,,,t1 '. ,.ember 31, 1961_ __ _

p ..r I. r, i.i. i. ....llected in Canal Zone during 1961:
Lit. liir ricc __ _ __
A.. rI, .l Health ____________


I ...,,, I.,id in Canal Zone_ _____ _


70
3
73
5
--68

0
1
S 1
1
0


$768,374.00
28,001.00
$796,375.00
70,921.00
$725,454.00

$0.00
1,000.00
$1,000.00
1,000.00
$0.00


0
0
0
0
0


$0.00
0.00
$0.00
0.00
$0.00


$23,596.93


$11,935.65
___ $35,532.58
$532.99






RECAPITULATION



MISCELLANEOUS COMPANIES


Accident
Automobile and motor vehicle_ ____ _-
Auto comprehensive
Auto collision
Auto liability (B.I.)___ _
Auto property damage________
Auto physical damage ___ ____ __
Eurglary and theft __________
Extended coverage
Fidelity ______
Fire __ ___________ __
Glass__________________________
Croup accident and health _______
Health and accident_- -________
Hospital and medical expense_______
Inland marine ___________
Liability other than auto __ _____
Property damage other than auto_ __
Surety _______ _
Workmen's compensation ______ _________
Miscellaneous -_ ___ __ ______

Total _--
Premium taxes paid in Canal Zone_ ___- _


LIFE INSURANCE COMPANIES

ORDINARY


Policies in force December 31, 1960
Policies issued during 1961_ __

Total _____-
Ceased to be in force during 1961 _

Policies in force December 31, 1961 _
Losses and claims:
Unpaid December 31, 1960 _
Incurred during 1961 -

Total ___
Settled during 1961

Unpaid December 31, 1961


i\ 11 it ,. t \ n ,,1 n'
.72 1 1'' 1:'..7 .: i il


.4 II. Y4 :,'
I _- ;4 II I, :.I I II, I
., e.p II I. 1 I I'
..5?=*


I .1 liii



- ., 1 11f 1


r .4




n n1

1 I I I1












II.
i. i "
1 44 .1',
;!'I. 2 .
'i. 1 -.

A '.1. 14
,4 ,ii',-i4

t..I .- i :/


L. ,,. .








..1 7 4




S41r 4-
I . II



.';.1 1.



4 1' 'P ii



2 i i' -',
I I., i


4 '- i:





GRouP


Number
5
6


F)'P160 ---- ----
. ,1., . ,r,, D , ,. 1 1'60_ _ _ _ _

- - - - - --___ __
I',,l.. . . ... .. I l r l _ _ _ _ _







1 ... I i .:.l : 1 _ _ _ __



... 1 iii ... II. ..I.. I. ,.... .. Zone during 1961:
-. 'I.r I I_, d. -1. .- --i 1 1l,- -


1... ,I...i i.l ... - - - - - -
I liI. .r .. I l . I '_ r ,_ _
|-.. r. ,..I l .,- .il-..I.--. .__ _ _ _ _ _



.1 .. ..,k ,,. ,, I if,. ,Ir i, _ _

E ,' .. ... r'il.ll.i II I l .- u i.ii ii... < _ _ _ _ _


0
156
156
142
14


Aniooolt
$2,037,082.00
40,941,824.00
$42,978,906.00
27,465.00
$42,951,441.00

$0.00
$67,550.00
$67,550.00
65,450.00
$2,100.00


$431,933.83
$99,102.20
$531,036.03
$7,965.19


TI,. !-, I -I -1,. ill .i ,,,,., r f fire insurance business written is due to the
it i.I li.,t .l.! i :.ill..,11 u..tl rures in the Canal Zone are owned by the
(~_ .. rii-,r1-, i w .1 Ili, Uliit.l S.'.,tes and are not covered by fire insurance.
1.,11.. .,_' i . -..I.., ,1 ... property in the Canal Zone involved in fires
.....I l1n. ... l.,,. ,.. .._,ic- t[i, refrom during the year ended December 31,
! .)9,- 1


Value of Amount of
property damage
involved by fire
_--- $10,326,988.26 $12,135.80
------ 0.00 0.00
- 10,199,245.36 5,907.59
--- 10,470,750.00 51,660.50
S 2,417,424.33 14,426.55
__ $33,414,407.95 $84,130.44


T1... !' .,, i. ,- ,,, ,t.i I.. from the laws of the Canal Zone concerning
Ii IInt' ...i. .I 1.. ... '.. ... ii.ntions under which insurance companies are
,1. ., 1 t., .]. ln i, I. i 1 e C anal Zone.


C ANAL ZONE CODE-Title 3, Chapter 10

r 2,- '"1 \1''" **.: t,'i I;cense to do business; accompanying papers;
I' ........ r. . i -'. t corporation organized under the laws of any
S.,1i. .1 1 I, i . ..t Ifi l.iii.. I .r.. States or of any foreign country shall do busi-
.~. ,,, Itl,. C.,,,11 ...11 il.nitain an office there in until it shall have filed
I..i, I,,. I ..... i, ,.. _.<.I f.,t the Canal Zone:
I .1 A.,, -['' 11i. ,.il.i I.'r a license setting forth the name of the cor-
iI .ii,,i,. Il1. .h ...i. ..I' 1i officers and directors, and a statement show-


[h.1. I' 1.., i 1, '.. ,I ...n.p _ _ _ _
I_.r ,,I *, ... . .r. _
I ,. ,i, A r1 ',, ,I I-:,r ...

FIu j.: !',!r ..i'. l .. l,..1 11, ,, ,... _
T ,,r -i - -





ing the general nature of the business in which it del.,:. r'n .*..;:. I in
the Canal Zone;
(b) A certified copy of its articles of incoorporatiol ... t I.I I1...,
or of the statute or statutes or legislative or executive ,., c..... Ilnl-l .til
acts creating it, in cases where it has been created by I. ... I .i.i
or legislative or executive or governmental act, dul ..ih..l b. rL-l
Secretary of State or other officer authorized by la. ....-III c.1.:1i
copy;
(c) An affidavit sworn to by any authorized ofA...... t i.... I...-
poration which shall state the amount of its author:-~.:l I,1-i.t1 I -r.,.:1
at or within 60 days prior to such filing;
(d) Every corporation must, at the time of filir ; .- ...1l. ir.....
file in the office of the Executive Secretary a designatih ii .I ..i..: !i:.1 ..i
residing within the Canal Zone and the place of busm..- .. .-i..i...
of such person upon whom process issued by auth .it. .'! i .....'i
any law of the Canal Zone may be served. With such l .ll ll ..... -I Ill
be submitted a certified copy of the minutes of the 1 ..i... i I ,Ii..r.,
of such corporation authorizing such designation. Proc: '..., I-. ..
on the person so designated, or, in the event that sut h 1,- 1,, ..'v.,I
be found at the place designated or in the event thii I. i... II, -.....
is designated, then on the Executive Secretary of the (.,,, I i .. ...- I.n
successor in office, and such service shall be a valid service on such
corporation. When the Executive Secretary shall have been served
with process as provided herein he shall without delay communityt:
the same to the corporation concerned at its last known address and .....
default judgment shall be entered against such corporation in any acti...,,
in which process is served on the Executive Secretary until at le:i I
60 days after the date of such service;
(e) Corporations licensed under the provisions of this chapter sh ,;'
also be required to file with the Executive Secretary any amencime.-r
of or change in any of the provisions of its original articles of incorpol .-
tion;
(f) With the application for license there shall also be submitt.. l
the sum of $10, which amount shall cover the filing fee and the annu I
license fee for the remainder of the calendar year during which th..
license is issued.
SEC. 222. Insurance companies to file additional documents and deposit -
In addition to the requirements hereinbefore prescribed, insurance companim-
organized under the laws of any State or territory of the United States or .I
any foreign country shall be required to file the following documents:
(a) A certificate of the Commissioner of Insurance or other dcil
authorized official, showing that the company is authorized to transn.tI
business in the State or country under whose laws the company I-
organized;
(b) A duly certified copy of the last annual statement of the insi ,
a:nce company to the Commissioner of Insurance or other duly auth -
ized official in the State or country where the company is organize I
(c) A deposit with the Executive Secretary or his successor II,
office of $10,000 in cash or current marketable securities, which sh I11





I-, I,1.-li in trust by the Executive Secretary for the account of the
..II..Ii'.I'\ to satisfy any judgment that may be rendered against the
>...'lip I,, under any insurance policies that it may issue.
St,: 22- Insurance companies to file statement and pay license tax.-
IIi. ii i.' ...lipanies licensed under this chapter shall file with the Executive
'..n. I. I I. I e.en January 1 and March 1 of each year a verified statement
i'i...ii. tll- 1 Iaisiness transacted within the Canal Zone by the company
I..Il,,,I rli. il,.-vious calendar year and a duly certified copy of its annual
i, p..r rI, Ih: Insurance Commissioner of the State, territory, or country in
I..l I]. i...' .'.pany is organized. Such insurance companies shall pay before
NI ....h 1 ..4f -,h year, in lieu of all other taxes save the annual fee provided
t.,ii i, ...rii. 225 of this title, a license tax equal to lP1 per centum of its net
Il.-m.I.1 r ,.... its in the Canal Zone for the calendar year preceding.
St:I. I 2 issuance of license.-Upon compliance with the foregoing con-
.11,11in ii C(.. vernor of the Canal Zone, if he is satisfied that the business
1,,,.-I It. I... r ansacted is proper, legitimate, permissible under the laws of
I., C.,.,Il Z ... and not in conflict with the policy of administering the Canal
tZ...:. ,, iiJinct of the Panama Canal, may issue a license to do business
l, I i ,i., il Z. ne.
Rr, 22, Continuance after original license period.-The right to con-
ri,.i,, t... d... Il.,iness for the calendar year, and the successive calendar years,
.,It..-l II,,: ...il..i.lar year during which the original license was issued shall be
,..,,IIiii.'..'ii Ij:,o compliance with such provisions of this chapter as are ap-
i.1..1ll- t. ....1' portions licensed under this chapter, upon the payment of a
hli.-ii.. ... ..-t i 10, payable in advance, on January 1 of each year, and upon
ithi_ :l..t.'-...,t.'i of a new process agent before March 1 if the process agent
,I I..,ti.. ,:i... .1.,'gnated has ceased during a preceding calendar year to reside
ill,.1 I,... (,- 1 Zone.
Sc 221 Transacting business without license, how punished; contracts
I .,ri -.\l., ..i 'oration which does business in the Canal Zone without having
,.,i|''li'rl '. iii the provisions of this chapter shall be subject to a fine of not
i...... I II 1 I'~i') and any agent or person acting for such corporation, unless
it .,I II I, ..... -,inplied with the provisions of this chapter, shall, upon convic-
Iii z I". i''-iiilied as for a misdemeanor. In addition to this penalty, every
,.,,,tr.,.t i.r.l..i by or on behalf of any such foreign corporation affecting the
li.ilni\ Ii: 11. :..I or relating to property within the Canal Zone shall be held
'. ,..1 it. I,.. lh f and on behalf of its assigns, but shall be enforceable against

2r, 27 Samec; loss of benefit of limitation laws.-Corporations doing
I,.li:..... III th.- Canal Zone which fail to comply with the provisions of this
..1,i-,i1,_, ..ill iot he entitled to the benefit of the laws of the Canal Zone
I.i,'ti,. tii- rime for the commencement of civil actions.
SL': 225 tcLicense under Chapter 11 sufficient.-No corporation licensed
il,,h i, i I'i.. 'sions of Chapter 11 of this title shall be required to comply
, ir l,,: i..,. i-ions of this chapter.
Sc,. 22' 'Corporation" includes joint stock companies.-The term "cor-
[.. ,i.. ,. .-d in this chapter shall include joint stock companies.
So 2,, Revocation of license.-The Governor of the Canal Zone is
.II',l.ir... i ,-voke any license issued hereunder if, upon examination, he





shall be satisfied that the operations of the corporation are conclu.....I ui 1n
illegal manner, or in a manner contrary to public policy or to tlih L,,l.'i it
administering the Canal Zone as an adjunct of the Panama Canal

NOTE-Chapter 11 relates to corporations and others engaged in rh, .. ..
securities only. Corporations and others engaged in the sales of sc..inCr,. T mr.
comply with the provisions of the Securities Sales Law contained in Cl. I- r.- 1 1 n,,
after such compliance are not subject to the provisions of Chapter 10




















































9798E- 5-52 500










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