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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: 1964
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: VID00004
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




ANNUAL REPO Tf


INSURANCE BUSINESS


transacted in the


CANAL ZONE


DURING THE CALENDAR YEAR


1964


Idb.I Laws Concerning Licensing


IO Inmuance Companies
































































































L. .
toollli






CANAL ZONE GOVERNMENT


ANNUAL REPORT

OF

INSURANCE BUSINESS


transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1964


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/annualreportofin1964cana









C.ANA.L ZONE GOVERNMENT
orFFICL OF THE GOVERNOR


BALBOA, HEIGHTS, C.Z. April 9, 1965.


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 1964.

R ccpectfully,

PAUL M. RUNNESTRAND,
Executive Secretary.


TI, lI.1l.-wing companies were authorized to transact business in the Canal
/.... ,I,. ii.g the year 1964:
.A111-.r. i. International Life Assurance Company of New York-
New York, N.Y.
.\A 1.... iii Life Insurance Company------------_ _-- Birmingham, Ala.
.\ii-,.,.: 'I, Motorists Insurance Co.-_________---------- Chicago, III.
IB'Ia:ke. Life Insurance Company of America ---____ Dallas, Tex.
[ I ,'. '.i idard Life Insurance Company ---------Corpus Christi, Tex.
(..I..., I American Life Insurance Company-_______ Corpus Christi, Tex.
(.I..l.. I insurance Company of Panama_ _ ___-Panama, R. of P.
C.*irni'.,. .,il Insurance Company __________-Newark, N.J.
,',,,p. '.. General de Seguros, S.A._ __________ Panama, R. of P.
(" p.. i.''i.' Interamericana de Seguros, S.A._ ------------Panama, R. of P.
(, ..l..'i..I [nternacional de Seguros, S.A.__ __________ -Panama, R. of P.
(.{..I'Il.l'' Istmefia de Seguros, S.A.__ ________----- Panama, R, of P.
I ".'.1.i..-.1I i[ Casualty Company __________Chicago, Ill.
'-.',l,,, .1 ,I Insurance Company _________ New York, N.Y.
E '1,111. inuity Life Insurance Company- __--- __ Washington, D.C.
I il... I t1 ,,d Casualty Company of New York_ ------ New York, N.Y.
lI.l it ,. jd Deposit Company ------------------- Baltimore, Md.
I' ,:llr .-i,,d Guaranty Life Insurance Company ______ Baltimore, Md.
1F-. .i,- Insurance Company of Newark-_______ -Newark, N.J.
G-.i .. ii I insurance Company of America --------------- Seattle, Wash.
L.ib.t.il.ii Life Insurance Company of America ______ Dallas, Tex.
H i 'l.ll'.1 Accident and Indemnity Company------------ Hartford, Conn.
Illrii.. \ I-Continent Life Insurance Company_____ __ Chicago, Ill.
I.....r ,.I. Company of North America ------------_Philadelphia, Pa.
lr-lri iti. .al Service Insurance Company _____ _Fort Worth, Tex.
LL.: it Nlntual Insurance Company_ _-__ -----_- Boston. Mass.





Lincoln National Life Insurance Company -____ _Fcit \\ .i cr. hid
Maryland Casualty Company _ _ _ i -ltinl.l.-. .Mld
Mutual of Omaha Insurance Company ---------------_ -.O 1i.ha Nil.
National Surety Corporation_____ N.-_ Y.uk N.Y.
National Union Fire Insurance Company-__________ Pu'iil.------- I'.,
Panama Insurance Company Inc. __-__Pa,,.,ma P. ,It I'
Pan-American Life Insurance Company _____ Nc'. Oi l. n ... Li
Royal Indemnity Company_ _-- N Y. .,i k N Y.
Seaboard Surety Company--- _______------------ N. k. N \.
Service Life Insurance Company ___ Fort \\ .:,irl. T',:
Transamerica Insurance Company-_ San Fr.-...i..i.. C'. .
Travelers Indemnity Company _________ I, t...it.'.l. C. -ii.
United Benefit Life Insurance Company-________-_ .OIl. N .:Li
United Services Life Insurance Co.----- W-ai.i.ii,-,I-r' D (
United States Fidelity and Guaranty Company_____ .Ii tli..r.. 1M.I
United States Life Insurance Company in the City of New Yo I -
N.. N_.ik. N.k
Wabash Life Insurance Co. ___________ ___ Indi.ni.,icr.l- i.:l.
1 Wabash Life Insurance Company licensed in the Canal Zone March lI. I',-a






.\IIIC~.\IN MOTORISTS INSURANCE COMPANY
IN,, rr ,r. r...r.,, .nn Canal Zone during 1964)


COLONIAL INSLi'.INCE COMPANY OF PANAMA
Net
Premiums
.\, ir.. I.:,lI.J, i. ,.1 m .t..r i .:l. --. _ $106,490.46
T....I ------- -- --_---------- $106,490.46
Fr.:m;i.m i i. r i I r. irinal 7.:.r. -___ $1,597.36



CO(M)M1I\RCI L INSURANCE COMPANY
Net


.1u\, .ir.I,,l_ : ,ro.I n,,,r,,r -l-,h, l,
. l.,: r,. ,r.,J rl,,:- r . .
Workmen's compensation __ __
Liability other than auto_____
Accident _- ---
Miscellaneous _
T, ,tal _
I', ii.rin tax paid in Canal Zone - -


Premiums
------- $12,360.65
--. -- - 1,065.33
86,541.81
12,554.81
85.65
--- _ 2,149.74
$114,757.99
-__ $1,721.37


Premiums
- --- $15.00
---- 95.92
366.17
394.32
107.45
360.32
10,893.64
_ 207.06
_ $12,439.88
$186.59


Losses
Paid
$26,981.05
$26,981.05





Losses
Paid
$0.00
603.50
55,030.00
183.90
0.00
2,062.25
$57,879.65


Losses
Paid
80.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00





Losses
Paid
$0.00
0.00
1,106.83
0.00
$1,106.83


F a.:
F ,- .-- - - -- - _- -- -
.\ii.:. -, rprehensive _____-_____
Ai. t.. .Ilsion___
.\, i.. lI.il.,lity (B.I.) _ _________
II,.-pi il md medical --------
A 1i., prq...crty damage -
Fi.k lit. -_ _ _ _ _ __
\.IT.:.m,:.l.ile and motor vehicle _
T.:.tal ----- -
I reri niar tax paid in Canal Zone


L,.,1lw., .ot
Fir,
A .i. ,IIm Ilile
,. .eri r.,l ri

T. ta
1'r.: inun. ta


COMPARIA INTERAMERICANA DE SEGUROS, S.A.
Net
Premiums
her than auto_ _____ $682.56
-- -- 3,280.09
2,445.46
ne -_._-----____ 90.02
.1 $6,498.13
x paid in Canal Zone_ --- -__- $97.47


COMPANIA GENERAL DE SEGUROS, S.A.
Net






COMPANIA INTERNATIONAL DE SEGURON. S \
N,t
Prem.iaim
Fire_ $1, 4.. -1,

Total ..$1,4 ,i
Premium tax paid in Canal Zone _____ i2l


COMPANIA ISTMENA DE SEGUROS, S. \.
(No transactions in Canal Zone during 1964,


CONTINENTAL CASUALTY COMPANY


Inland marine
Accident
Accident and health
Hospital and medical expenses_
Group accident and health_
Liability other than auto (B.I.)

Total ________-__
Premium tax paid in Canal Zone


Fire_
Extended coverage
Total__
Premiumn tax paid


N. I
Pren'i'i iii

14 11 2



. .- - -3,i 1 :1 2


$12,i..'.2 li.
$1' 'i 2-1


CONTINENTAL INSURANCE COMPANY
N.. r
Prenmii i:

_2 7, i':,

_ _ _ $1,i I 7-4
in Canal Zone __ .1 -, .
---- -------___-__ $1,11 i .4
in C anal Zone - - --- "__ __ _. 11." -- -


L '%i,. i,
/-i ll',
".1. 1111
11''ii
5 *S.-Yi4
I' 1 I 11
1 *:5-,..6


17 242 .11




L..- >, >
Paid

111111
S11111


FIDELITY AND CASUALTY COMPANY OF NL\\ ~OIiK


Accident

Total
Premium tax paid in Canal Zone.


N, I
Pren. n ii


i I-? I


i 11, i
P il II


DEPOSIT
FIDELITY AND COMPANY OF MARYLA.ND
(No transactions in Canal Zone during 1964


FIREMAN'S INSURANCE COMPANY OF NE\\.ARK
N.i
Premmns
Fire- $22,4110' li
Automobile and motor vehicle- -- 185,!l 2 i i
Liability other than auto __ -,2 -.i

Total_ _ _ __ $208,53 I
Premium tax paid in Canal Zone . $3,12- -1


1t5 14- 1
17 117 1
I l li


L ', i
r,i;l,

inalls1





GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1964)

II 1ITFORD ACCIDENT AND INDEMNITY COMPANY
Net Losses
Premiums Paid


-',...:r'i. ili i .e other than auto

.,.r .nr ..r.,pensation -
_i i.ili' ..rl,.r than auto (B.I.) ___
., 1i.. I, Jl.ir, IP.D.)_- ----_ _- -
Aut,, L-h,,ybl, -B.I.)- --_ _--_ _- _


Total ___
Premium tax paid in Canal Zone


$2.39
44.00
82.68
_(Cr.) 524.25
__ 49.52
S114.31
_(Cr.) $231.35
__ $0.00


INSURANCE COMPANY OF NORTH AMERICA
Net Losses
Premiums Paid


Ocean marine ___
Surety _..____-----
Total .
Premium tax paid in Canal Zone


INTERNATIONAL SERVICE INSURANCE COMPANY
Net Losses
Premiums Paid


Auto liability (B.I.)
Auto property damage _ _
Auto physical damage ----
Liability other than auto (B.I.)_
T. ral ------- ---
I .... t .... ax paid in Canal Zone


... - $12,237.38
-___---- 6,243.84
__---_ 45,275.04
25.92
__- -- $63,782.18
_---------- $956.73


THE LIBERTY MUTUAL INSURANCE COMPANY
Net Losses
Premiums Paid


[ il,11, ,,.I accident -
C...ip .-ident and health _
.. ..I ,-.. n .; compensation_ .
1., .lI.r other than auto (B.1.)
rr..q.,r- damagee other than auto


T, al_
I i. .i...... rax paid in Canal Zone-


$49.00
905.00
452.00
153.00
105.00
_ (Cr.) 2.00
$1,662.00
$24.93


$0.00
0.00
0.00
0.00
0.00
0.00
$0.00


$486.00
5,938.95
$6,424.95
$96.37


$0.00
0.00
$0.00


$4,044.80
2,026.82
10,093.24
26.00
$16,190.86


$15.00
156.00
0.00
0.00
0.00
0.00
$171.00


rr_____:





MARYLAND CASUALTY COMPANY


Hospital -
Accident --_
Health --- -__- __ (Cr.)
Group accident and health ________________
Auto liability___--------------------
Liability other than auto__
Fidelity -
Surety -___-
Class __ ______--------
Burglary and theft __ __- __
Auto property damage __________
Inland marine___------------ -----
Property damage other than auto- ____ _-
Workmen's compensation_ ________-__-_
Automobile physical damage _______-
Fire_________-_ ____ ___ ---
Extended coverage _ _________
Miscellaneous


Total ________________
Premium tax paid in Canal Zone_ _


Net
Premiums
$2,272.4,.
677.5-
63.81
2,115.35
22,775.0..
5,074.5',
4,542.7':J
60,601.61
28.01.
9,036.42
10,320.1,1
2,945.8'.
1,974.5::
53,166.3'
29,427.31
3,758.9-
176.0..
12.0 '


S$208,841.11
$3,132.62


MUTUAL OF ONMAHA INSURANCE COMPANY


Group accident and health__
Accident _- ..
Health and accident___
Hospital and medical __ _
Total___________
Premium tax paid in Canal Zone -


Net
Premiums
$810.12
- 805.0:.
99,658.25
1,199,842.41


[.o ,. ,
PaIi i


i 524 1"'
441 744 1.7
I 1 5'.59-4 *:rj


- - $1,301,115.89 21I l 7n 22
$19,516.74


NATIONAL SURETY CORPORATION
(No transactions in Canal Zone during 1964)



NATIONAL UNION FIRE INSURANCE COMPANY

Net
Premiums
Fire ______________ $2,961.5(
Automobile and motor vehicle_ ____ 8,065.57
Liability other than auto _________________ 2,400.62
Total -------------------------_ $13,427.6!
Premium tax paid in Canal Zone ____________ $201.42


1l 1 7 111

0.111)1
Iliii1


6-. 11.11
I'.'"'







1.1.1






I II
5 4.4, I7


p., r~


II 11
''I'1
1 'i '11





PANAMA INSURANCE COMPANY

Net Losses
Premiums Paid


Fire- __
Workmen's compensation. _
Liability other than auto___
Surety .. __ _
Automobile _
Miscellaneous
Total ___ _____
Premium tax paid in Canal Zone_


_-______ $2,089.13
_-____ __ 76,937.09
12,073.62
S_ _ ...__ 14,575.89
---_ 3,036.84
---_ ____ 2,483.00
--________ $111,195.57
---- $1,667.93


ROYAL INDEMNITY COMPANY

Net Losses
Premiums Paid


Surety_ _
Total------ ..------
Premium tax paid in Canal Zone.


-. -- $0.00 $1,952,797.92
$0.00 $1,952,797.92
------ $0.00


SEABOARD SURETY COMPANY
(No transactions in Canal Zone during 1964)





TRANSAMER1CA INSURANCE COMPANY

Net Losses
Premiums Paid


Auto property
Fidelity
Surety
Total


damage _.._..


Premium tax paid in Canal Zone


---__ __$0.00
_-- 573.75
S..- 10,798.00
--_ -_ $11,371.75
-_ $170.58


TRAVELERS INDEMNITY COMPANY
Net Losses
Premiums Paid
Auto physical damage $0.00 (Cr.) $25.60
Total ___. $0.00 (Cr.) $25.60
Premium tax paid in Canal Zone___ -_ $0.00


$0.00
19,004.23
135.91
0.00
3,264.26
683.20
$23,087.60


$400.00
0.00
0.00
$400.00






UNITED STATES FIDELITY AND GUARANTY COMPANY


Extended coverage
Auto collision
Fire_ ---
Inland marine -
Accident -
Worknen's compensation _
Liability other than auto (BI.)_
Auto liability (B.I.) -
Auto property damage_
Auto physical damage
Property damage other than auto.
Fidelity
Surety __ --
Burglary and theft
Glass-__
Miscellaneous

Total_. ________
Premium tax paid in Canal Zone


Net
Premiums
$454.08
22,815.05
4,476.49
466.80
49.50
26,564.97
3,154.79
26,848.69
14,409.22
16,088.05
- 1,629.46
---- ----- 2,450.53
- -- 12,372.92
6,835.55
31.06
0.00

__ $138,647.16
-...--. $2,079.71


AMERICAN INTERNATIONAL LIFE ASSURANCE COMP \NY
OF NEW YORK
(No transactions in Canal Zone during 1964)


AMERICAN LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1963
Policies issued during 1964

Total
Ceased to be in force during 1964

Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964 _
Total
Settled during 1964

Unpaid December 31, 1964


Number
23
0

23
3

20

0
0
0
0

0


GROUP-None

Net premiums collected in Canal Zone during 1964:
Life Insurance -- -- --- ----
Accident and Health ___
Total _
Premium tax paid in Canal Zone ___ --- .-_


L...,' ,
fLiicl
'* II"
:2 1.1111 .

II l'111
II"ll

,, 2. 2 15
.2 4 -.
""'

i l) .I






51 -1 .


l 24, -,'


11 I II I

! 1 -.1 12 I I





II II




fIlilf


IIn 11


Ui-'I. u





BANKII-S LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


.I .,I,,> ,,, I.:,,...- 1.., ni,,,r ,1, 1963 __ _____
[*,.h .. . .. ,r.,,,. I .h _, 1 ,, 1 1 _.



.h..... ... ,:.r,. l~~,:.. I,-r 1, 1964
[.,,..,.. ,r I I ,iini.
Unpaid December 31, 1963
Incurred during 1964 _
Total _ __ ___
Settled during 1964
Unpaid December 31, 1964

GRoup-None

Net premiums collected in Canal Zone during 1964:
Life Insurance .___-_-__----_____--
Accident and Health -- -
Total __ ___ _____
Premium tax paid in Canal Zone -___________


CITIZENS STANDARD LIFE INSURANCE COMPANY

OnDINARY
Number Amount


Policies in force December 31, 1963
Policies issued during 1964
Total_________
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964 _
Total
Settled during 1964 __
Unpaid December 31, 1964


1,404
1,308
2,712
968
1,744


$4,934,380.00
5,425,963.00
$10,360,343.00
3,301,428.00
$7,058,915.00


1 $2,500.00
12 14,845.00
13 $17,345.00
12 9,845.00
1 $7,500.00


Gnoup-None

N. t premiums s collected in Canal Zone during 1964:
Life Insurance
accidentt and Health
Total _---.. -. -- -
IPr ii ium tax paid in Canal Zone _


$206,276.35
25,968.14
$232,244.49
$3,483.67


Number
1,210
637
1,847
234
1,613

0
8
8
7
1


Amount
$5,272,807.00
2,388.140.00
$7,660,947.00
994,824.00
$6,666,123.00

$0.00
7,250.00
$7,250.00
4,750.00
$2,500.00


$176,836.22
0.00
$176,836.22
$2,652.54





COLONIAL AMERICAN
C
Policies in force December 31, 1963
Policies issued during 1964
Total
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964 ______
Unpaid December 31, 1964


Policies in force December 31, 1963
Policies issued during 1964
Total
Ceased to be in force during 1964_
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963_
Incurred during 1964


LIFE INSURANCE COMPANY
)RDINARY Number Amour t
S_ 679 $2,273,75 i, n
S 313 1,216,177 1.1
992 $3,489,93,1 ."
92 322,39, ',
900 $3,167,54 1 iI


CROUP


0
4
4
4
0
Number
1
0
1
0
1


0
0
0
0
0


Total
Settled during 1964
Unpaid December 31, 1964
Net premiums collected in Canal Zone during 1964:
Life Insurance- ____ _____
Accident and Health_________________
Total_______________ _____________
Premium tax paid in Canal Zone _________ _


$1.1 111
3,625 11-1
$3,62'"i i
3,625 "i
$II Ill I
Amourt
$17,00'1 1.11
4,00,1111
$21,00'1 11"
2,00', 'it
$19,000.00

$0.00
0.00
$0.00
0.00
$0.00


S $92,807.44
3,276.75
S $96,084.19
S $1,441.26


EQUITY ANNUITY L
C
Policies in force December 31, 1963
Policies issued during 1964
Total .
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964


IFE INSURANCE COMPANY
)RDTNARY Number
16
0
16
3
13


Total
Settled during 1964
Unpaid December 31, 1964
GRouP-None
Net premiums collected in Canal Zone during 1964:
Life Insurance
Accident and Health_
Total .._ _ -
Premium tax paid in Canal Zone


Amount
$16,000.00
0.00
$16,000.00
3,000.00
$13,000.00


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


$5,221.66
0.00
$5,221.66
$78.32





FIDELITY AND GUARANTY LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1963
Policies issued during 1964
Total
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964__
Unpaid December 31, 1964


GRouP-None

Net premiums collected in Canal Zone during 1964:
Life Insurance_ _
Accident and Health .
Total _
Premium tax paid in Canal Zone-


$16,786.90
0.00
$16,786.90
$251.80


THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA


ORDINARY


Policies in force December 31, 1963
Policies issued during 1964
Total
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964 _
Unpaid December 31, 1964

GROUP-None

Net premiums collected in Canal Zone during 1964:
Life Insurance ____-- -
Accident and Health _-
Total --__ _
Premium tax paid in Canal Zone- _---.- -


Number
1,771
470
2,241
508
1,733


Amount
$8,577,758.00
2,100,000.00
$10,677,758.00
1,385,588.00
$9,292,170.00


0 $0.00
6 13,625.00
6 $13,625.00
6 13,625.00
0 $0.00


$258,503.77
20.00
$258,523.77
$3,877.86


Number
57
49
106
3
103

0
0
0
0


Amount
$349,581.00
272,869.00
$622,450.00
38,508.00
$583,942.00

$0.00
0.00
$0.00
0.00
$0.00






ILLINOIS MID-CONTINENT LIFE INSURANCE COMPlNY

ORDINARY


Numbe.
. _._. ___ 1
1
2
0
2


Policies in force December 31, 1963
Policies issued during 1964

Total
Ceased to be in force during 1964

Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964

Total
Settled during 1964

Unpaid December 31, 1964


II 1.11 111 liii
SI 111 11~11 I Ii

111111
II 1 I 11111 li


0





0 .i.Quu
o t.
0 .t.II


GRoup-None

Net premiums collected in Canal Zone during 1964:
Life Insurance -
Accident and Health_________
Total ---
Premium tax paid in Canal Zone -__ ---_


S1S-.71i



S A






LINCOLN NATIONAL LIFE INSURANCE COMPANY


ORDINARY


-I'..Icies in force December 31, 1963
I..I..ies issued during 1964
Total_
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964 .
Unpaid December 31, 1964

GROUP


'Policies in force December 31, 1963
Policies issued during 1964__
Total __ -
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total _
Settled during 1964_
Unpaid December 31, 1964
Net premiums collected in Canal Zone during 1964:
Life Insurance __ _
Accident and Health_ _____ -
Total .- ..- -
Premium tax paid in Canal Zone _ _.


*Adjusted figure after deduction in policies and amount to reflect exclusion from policy exhibit
of reinsurance accepted which was included in previous year's report of insurance in force
December 31, 1963.


Number
688
41
729
85
644

0
10
10
9
1



Number
0
0
0
0
0

0
0
0
0
0


Amount
$4,442,817.00
297,209.00
$4,740,026.00
715,401.00
$4,024,625.00

$0.00
54,935.00
$54,935.00
44,935.00
$10,000.00



Amount
$46,946.00
0.00
$46,946.00
(841.00)
847,787.00

$0.00
0.00
$0.00
0.00
$0.00

$119,341.85
2,608.61
$121,950.46
$1,829.26






PAN-AMERICAN LIFE INSURANCE COMPANY

ORDINARY


Number
221
3
224
78
146


Policies in force December 31, 1963
Policies issued during 1964
Total
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964
Unpaid December 31, 1964


Amt..nint
$1,49(0.4i 2 'i 1
35 1 1111 1
$1,525 ''12 i1i
33 I I
$1,18" '- ii'


0 1.i i in
1 2 111111.1 II I
1 2 , ,
1 $2 i... 1.1 i..
0 I'I iI

1 $ 1 ,.,,"


GRouP-None

Net premiums collected in Canal Zone during 1964:
Life Insurance .
Accident and Health _
Total-- ----------_-
Premium tax paid in Canal Zone ---_____---____-


$31 il 75


$31.1 is 5
$3 465.28
8465.28


THE SERVICE LIFE INSURANCE COMPANY

ORDINARY


Number
11
15
26
2
24


Policies in force December 31, 1963
Policies issued during 1964 _
Total
Ceased to be in force during 1964_
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964
Unpaid December 31, 1964


Amount
$25,818.00
119,014.00
$144,832.00
17,200.00
$127,632.00


_ $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00


GRouP-None

Net premiums collected in Canal Zone during 1964:
Life Insurance
Accident and Health ...
Total _
Premium tax paid in Canal Zone -- __ _-__ -


$2,426.11
0.00
$2,426.11
$36.39








Policies in fo
Policies issue


UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY Number
rce December 31, 1963 __________ 776
d during 1964_ _____________ ____ 40


Total _____ ____ __
Ceased to be in force during 1964_.
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963_
Incurred during 1964______
Total _
Settled during 1964___
Unpaid December 31, 1964_


Policies in force December 31, 1963
Policies issued during 1964 _


Total______________ ---_ __
Ceased to be in force during 1964_________
Policies in force December 31, 1964 __________
Losses and claims:
Unpaid December 31, 1963_ ___________
Incurred during 1964 ___ __ __
Total __ _______-__- _- ---
Settled during 1964 _____ ___
Unpaid December 31, 1964_ __________
Net premiums collected in Canal Zone during 1964:
Life Insurance ------- ------------
Accident and Health _____ --__


816
123
693


0
0

0
0
GROUP ,Number

0
-.--- -------- 0
_- -- --- -__ _-- 0
___-___ __-- 0


-- __- 0
GROUP Number

_------- ------ 0


2
0
2

3
53
56
55
1


Total ________- ___ -------__-_
Premium tax paid in Canal Zone --- --
UNITED SERVICES LIFE INSURANCE COMPA
ORDINARY Number


Policies in force December 31, 1963 _____
Policies issued during 1964 _________________
Total ____ __ _____
Ceased to be in force during 1964 __ -__
Policies in force December 31, 1964 ______
Losses and claims:
Unpaid December 31, 1963_ ____
Incurred during 1964 _______ ____
Total______________ _
Settled during 1964 ____________________
Unpaid December 31, 1964_______________
GRoup-None
Net premiums collected in Canal Zone during 1964:
Life Insurance __________ _____ __---
Accident and Health ____________ _______
Total_______________-________
Premium tax paid in Canal Zone -___-____


136
22
158
2
156

0
0
0
0
0


-


Y
Amount
$3,115,167.00
314,496.00
$3,429,663.00
543,084.00
$2,886,579.00

$0.00
0.00
$0.00
0.00
$0.00
Amount
$70,637,500.00
22,569,500.00
$93,207,000.00
344,000.00
$92,863,000.00

$13,000.00
332,500.00
$345,500.00
344,000.00
$1,500.00

$493,673.52
45,643.98
$539,317.50
$8,089.76
NY
Amount
$1,196,063.00
246,437.00
$1,442,500.00
26,000.00
81,416,500.00

$0.00
0.00
$0.00
0.00
$0.00



$17,917.73
0.00
$17,917.73
$268.77






UNITED STATES LIFE INSURANCE COMPANY


ORDINARY


Numi


_ _


Policies in force December 31, 1963 ______
Policies issued during 1964
Total
Ceased to be in force during 1964

Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964 _
Total
Settled during 1964

Unpaid December 31, 1964

GnouP


Policies in force December 31, 1963 .
Policies issued during 1964 _
Total_
Ceased to be in force during 1964__
Policies in force December 31, 1964_ ____
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964_ _
Total_
Settled during 1964 ________
Unnaid December 31 1964


ber .Ai..ii!
51 5 .':' l '
0 f Il

51 I.^iH '.ii II l 1n11
14 15,.,4- 1-.11

37 5'. 4 i, II I



1 5,1 n n1 1
1 41111111 n
1 ,5 111111 fin

0 *II,.,I


Number An&iinit



4 -2 4-41-,7 l i'.
2 2 : 'll iiii
2 .' 1 1111
0 -i"- 11,-

S 0 II III


0 iil iI I
o i 'i i


Net premiums collected in Canal Zone during 1964:
Life Insurance
Accident and Health_
Total -.- - -- ... .
Premium tax paid in Canal Zone __________..____


H '17 7A~


WABASH LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1964)






RECAPITULATION


MISCELLANEOUS COMPANIES
Net
Premiums
...-,, --------- $1,817.42
Ai. .ii :.l.le and motor vehicle - - - 318,518.20
\,, .... '.,,, rehensive _ -_---- 95.92
.\,, ., .,, lion ------- ------- -- 23,181.22
\,,ir, ,1.,lity (B.I.) --...- --- - 62,369.76
.\I,,,,, .! .erty damage _---- ------ -- 31,383.04
Auto physical damage - -- -90,790.40
Burglary and theft - -- 16,937.30
Extended coverage --_ __ -------- 860.26
Fidelity -------------- 18,460.71
Fire - - ---- -- --- 41,282.36
Class- ------------------- 57.06
Group accident and health - - 6,949.71
Health and accident - - -- --- - 108,878.39
Hospital and medical ---------------- 1,202,405.43
Inland marine ---- 3,415.35
Liability other than auto ------- 35,650.52
Miscellaneous _- ------------- 4,644.74
Ocean Marine ______.- -- 576.02
Property damage other than auto - 3,711.37
Surety -- -------- -- 104,331.37
Workmen's compensation_ _-------- 243,744.94
Total ---------------- $2,320,061.49
Premium taxes paid in Canal Zone _ __ $34,804.38


LIFE INSURANCE COMPANIES


ORDINARY


"Policies in force December 31, 1963
Policies issued during 1964
Total
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963
Incurred during 1964
Total
Settled during 1964
Unpaid December 31, 1964


Number
7,044
2,899
9,943
2,115
7,828


Amount
$32,554,856.00
12,425,313.00
$44,980,169.00
7,847,846.00
$37,132,323.00


1 $2,500.00
42 101,280.00
43 $103,780.00
39 81,780.00
4 $22,000.00


*See Lincoln National Life Ins. Co.


Losse,
Paid
$182.86
122,089.28
0.00
12,300.38
8,022.33
26,258.89
44,359.40
5,089.28
136.22
320.87
15,816.78
1,778.90
4,922.66
50,048.11
1,164,801.99
1,730.45
821.26
2,887.45
0.00
705.05
2,036,627.25
119,437.50
$3,618,336.91






Gnour


'Policies in force December 31, 1963
Policies issued during 1964_ _
Total -
Ceased to be in force during 1964
Policies in force December 31, 1964
Losses and claims:
Unpaid December 31, 1963_ .
Incurred during 1964___
Total _
Settled during 1964 __
Unpaid December 31, 1964 _____
Net premiums collected in Canal Zone during 1964:
Life Insurance _- -------- ---
Accident and Health --- -- ----
Total_ ---------- --- --
Premium tax paid in Canal Zone .- ------
*See Lincoln National Life Ins. Co.


Number Amiroit
7 $73,I .17' C'
0 22, ..: .i
7 $95,72 I.ri- "
2 2,%.h7 'vii ,,
5 $93.17.,7' 7 .'

3 i 1, I1111 i
53 :;2. 'i
56 $ .
55 ::-'. I. II, II I
1 '1 51111111

- $1. 1' 1 1
- '_ : .'l l
- $1."'i. 7 12
- 22 'I


The relatively small amount of fire insurance business written is due to the
fact that practically all structures in the Canal Zone are owned. bI, Ithe
Government of the United States and are not covered by fire in.u'.inrce
Following is a statement of property in the Canal Zone involved .ii fii.
and the damages resulting therefrom during the year ended Deconib..-r 31,
1964:


Panama Canal Company _
Canal Zone Government
Other U.S. Government
U.S. Armed Forces _
Ships in Canal waters _
Private property other than above-
Total----- ---
*Complete figures unavailable.


Value of .\imoiIt "t
property d.nlm.1;o
involved I'. lir.
$10,593,446.15 $376,714.18
1,347,790.45 250.00
0.00 0.00
S 8,730,141.22 18,344.01
4,679,966.66* 3,905.50*
2,386,647.85 218,935.27
- - $27,737,992.33 $618,148.96


The following is an extract from Title 2 of the Canal Zone Code, as revised
effective January 2, 1963, pertaining to the licensing of foreign corporations
under which insurance companies are authorized to do business in the
Canal Zone.
CANAL ZONE CODE-Title 2, Chapter 61

SEC. 871. Corporation; joint stock company.-As used in this chapter,
"corporation" includes joint stock companies.
SEC. 872. Application for license to do business; service of process;
filing fee.-(a) A corporation organized under the laws of a State of the
United States or of a foreign country may not do business in the Canal Zone





or maintain an office therein until it has filed with the executive secretary of
the Canal Zone Government:
(1) An application for a license setting forth:
A. The name of the corporation;
B. The names of its officers and directors; and
C. The general nature of the business in which it desires to
engage in the Canal Zone;
(2) A copy, duly certified by the officer authorized by law to certify
it, of the:
A. Articles of incorporation;
B. Charter; or
C. Statutory, executive, or governmental acts creating the
corporation, when it has been so created;
(3) An affidavit sworn by an authorized officer of the corporation
stating the amount of its authorized capital stock at or within 60 days
prior to the filing.
(4) A designation of a person residing within the Canal Zone upon
whom process issued under any law of the Canal Zone may be served,
and his place of business or residence, and a certified copy of the minutes
of the board of directors of the corporation authorizing the designation.
(b) Process served on the person designated by the corporation or, if he
can not be found at the place designated, or if a person is not designated,
on the executive secretary of the Canal Zone Government, is a valid service
on the corporation. When the executive secretary is served with process he
shall without delay communicate the same to the corporation concerned at
its last known address. A default judgment may not be entered against the
corporation in an action in which process is served on the executive secretary
until at least 60 days after the date of the service.
(c) A corporation licensed pursuant to this chapter shall also file with
the executive secretary any change in the provisions of its original articles
of incorporation.
(d) With the application for license there shall also be paid $10, which
shall cover the filing fee and annual license fee for the remainder of the
calendar year during which the license is issued.
SEC. 873. Additional requirements for insurance companics.-In addition
to the other requirements of this chapter, an insurance company organized
under the laws of a State of the United States or of a foreign country shall
file the following documents: (1) A certificate of an authorized official,
showing that the company is authorized to transact business in the State or
country under whose laws the company is organized;
(2) A duly certified copy of the last annual statement of the insurance
company to an authorized official in the State or country where the company
is organized;
(3) A deposit with the executive secretary of the Canal Zone Government
of $10,000 in cash or current marketable securities, which shall be held in
trust by the executive secretary for the account of the company, to satisfy





any judgment that may be rendered against the company, under in, i..,r.e
policies that it may issue.
SEC. 874. Annual statement and license tax for insurance coalM'i. -
An insurance company licensed pursuant to this chapter shall file il. il..
executive secretary of the Canal Zone Government before March 1 ..,t ....1
year a verified statement showing the business transacted within tih- C.,ii.-1
Zone by the company during the previous calendar year and a duly .: -il;. *.1
copy of its annual report to an authorized official of the State or cli.....,. ,,
which the company is organized. Upon a showing of good cause rl...i.ti.,.
the executive secretary may extend the time for filing the statenr.-il I,, 'i
period not exceeding two months after March 1.
An insurance company licensed pursuant to this chapter shall p., .-I.-I.-
March 1 of each year, in lieu of all other taxes except the annual fee p"" 0.' .
for by section 876 of this title, a license tax equal to 1V2 percent ,.t it, ir.tr
premium receipts in the Canal Zone for the proceeding calendar ;.:.;i.
SEC. 875. Issuance of license.-Upon compliance by a corporaliui ,tlli
the conditions prescribed by sections 872-874 of this title, and if the Governor
is satisfied that the business desired to be transacted is proper, legitimate and
permissible under the laws of the Canal Zone, and not in conflict with the
policy of administering the Canal Zone as an adjunct of the Panama Canal,
he may issue a license to do business in the Canal Zone.
SEC. 876. Continuance after first license period.-The right of a corpora-
tion to continue to do business for the calendar year, and the successive
calendar years, after the calendar year during which the original license
was issued, shall be contingent upon: (1) Compliance with the provisions
of this chapter applicable to corporations licensed under it;
(2) Payment of a license fee of $10, payable in advance, on January 1
of each year; and
(3) Designation of a new process agent before March 1, if the process
agent previously designated has ceased during a preceding calendar year
to reside within the Canal Zone.
SEC. 877. Revocation of license.-The Governor may revoke a license
issued pursuant to this chapter if, upon examination, he is satisfied that the
operations of the corporation are conducted in an illegal manner, or in a
manner contrary to public policy or to the policy of administering the Canal
Zone as an adjunct of the Panama Canal.
SEC. 878. Loss of benefit of statute of lilmitations.-Corporations doing
business in the Canal Zone which fail to comply with this chapter are not
entitled to the benefit of the laws of the Canal Zone limiting the time for
the commencement of civil actions.
SEC. 879. Penalties for violation; validity of contracts.-(a) A corpora-
tion which does business in the Canal Zone without having complied with
this chapter shall be fined not more than $500.
(b) Whoever acts as an officer of, or agent for, a corporation which
has not complied with this chapter, shall be fined not more than $100 or
imprisoned in jail not more than 30 days, or both.





I,. i .. -rontract made by or on behalf of such a corporation affecting
tile ib.il.irt, rit.reof or relating to property within the Canal Zone is void
Ci.. ii; 1Clil it ,n..l on behalf of its assigns, but is enforceable against it or them.
5,, ..5Ii Corporations dealing in securities.-A corporation licensed
pijin ,ui t t., (Clhapter 79 of this title is not required to comply with sections
7 1-s-.7 [ 1.t H i,. title.

l .- .51 I Surrender of license to do business.-(a) A corporation
Ih,- .i ,t.I to J.I-. business in the Canal Zone may surrender its license by filing
!ll, II.: e-e:'.- tive secretary of the Canal Zone Government a certificate
1n.,l..1 .,i.d .-.i Jowledged by its president or a vice president and its secretary
or an assistant secretary or treasurer, setting forth:
(1) The name of the corporation as shown on the records of the
executive secretary, and the State or place of incorporation;
(2) That it revokes its designation of agent for the service of process;
(3) That it surrenders its authority to do business in the Canal Zone
and returns its license for cancellation, or that the license has been
lost or destroyed, if such is the fact;
(4) That it consents that process against it in any action upon a
liability or obligation incurred within the Canal Zone prior to the filing
of the certificate of surrender may be served upon the executive secretary
of the Canal Zone Government;
(5) A post office address to which the executive secretary may mail
a copy of any process served upon him, which address may be changed
from time to time by filing a certificate entitled "certificate of change of
address of surrendered foreign corporation" signed and acknowledged
by the president, a vice president, secretary, assistant secretary, or
treasurer.
(b) The license shall be attached to the certificate of surrender unless the
license has been lost or destroyed, in which case there shall be attached an
affidavit of the president, vice president, secretary, assistant secretary, or
treasurer to that effect.
(c) Mere retirement from doing business in the Canal Zone without filing
a certificate of surrender of license does not revoke the appointment of any
agent for the service of process within the Canal Zone.
SEC. 882. Service of process after revocation or surrender of license.-
(a) After the license of a corporation has been revoked or surrendered,
proce' against the corporation may be served upon the executive secretary
,t1 tli- C mal Zone Government in any action upon a liability or obligation
Irli'c I.I within the Canal Zone prior to the revocation or the filing of the
.*rillt..ll of surrender.
I1.' Section 872(b) of this title applies to service of process upon the
i \,-.ii ln secretary pursuant to this section.
i I The revocation or surrender of a license does not affect any action
p, Ilii .1 .at the time.



9154-500







UNIVERSITY OF FLORIDA
1I I I 0I7 I II I II I 1
3 1262 04728 2909 I






71




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