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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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Permanent Link: http://ufdc.ufl.edu/UF00097362/00005
 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: 1965
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: VID00005
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



ANNU 'T


INSURA ESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1965



Including Laws Concerning Licensing
L Of Insurance Companies
















































r1111111






CANAL ZONE GOVERNMENT


ANNUAL REPORT

OF

INSURANCE BUSINESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1965


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/annualreportofinl965cana









CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR


BALBOA, HEIGHTS, C.Z. May 23, 1966.


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 1965.

Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.

The following companies were authorized to transact business in the Canal
Zone during the year 1965:
Aetna Casualty and Surety Company1 _________-----Hartford, Conn.
American-Amicable Life Insurance Company2 --------Birmingham, Ala.
American Capitol Insurance Company3_ --- ------Houston, Tex.
American International Life Assurance Company of New York-
New York, N.Y.
American Life Insurance Company2______------ __--Birmingham, Ala.
American Motorists Insurance Co.------------- --- Chicago, Ill.
Bankers Life Insurance Company of America------------ Dallas, Tex.
Citizen Standard Life Insurance Company---------Corpus Christi, Tex.
Colonial American Life Insurance Company3 -------Corpus Christi, Tex.
Colonial Insurance Company of Panama _-------- -Panama, R. of P.
Commercial Insurance Company -----_-------------Newark, N.J.
Compafiia General de Seguros, S.A.-------------- Panama, R. of P.
Compafia Interamericana de Seguros, S.A. ------------ Panama, R. of P.
Compafiia Internacional de Seguros, S.A. _----------- Panama, R. of P.
Compafia Istmefia de Seguros, S.A.---------------- Panama, R. of P.
Continental Casualty Company __- ------_ ------------Chicago, Ill.
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.
Fidelity and Guaranty Life Insurance 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 Company4--------- Chicago, I11.






Insurance Company of North America ------------_ Philadelphia, Pa.
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 of Omaha Insurance Company ------------_ -_ _Omaha, Nebr.
National Surety Corporation __---_-----__------- New York, N.Y.
National Union Fire Insurance Company ---------_--- Pittsburgh, Pa.
National Western Life Insurance Company4-__________ Denver, Colo.
Panama Insurance Company Inc. ---------------- Panama, R. of P.
Pan-American Life Insurance Company --------___- New Orleans, La.
Peninsular Life Insurance Company5 ____- _____----Jacksonville, Fla.
Royal Indemnity Company _---------------------New York, N.Y.
Seaboard Surety Company .---------------------- New York, N.Y.
Service Life Insurance Company __----------------Fort Worth, Tex.
Transamerica Insurance Company _________ an Francisco, Calif.
Travelers Indemnity Company_ --------------------Hartford, Conn.
United Benefit Life Insurance Company ---------- __- Omaha, Nebr.
United Services Life Insurance Co._ ___ ______ Washington, D.C.
United States Fidelity and Guaranty Company -----_--_ Baltimore, Md.
United States Life Insurance Company in the City of New York-
New York, N.Y.
Wabash Life Insurance Co. ____________----__ Indianapolis, Ind.
1 Aetna Casualty and Surety Company licensed in the Canal Zone April 27, 1965.
2 Amicable Life Insurance Company merged into American Life Insurance Company effective
March 1, 1965, the surviving corporation being American-Amicable Life Insurance Company.
3 American Capitol Insurance Company merged with Colonial American Life Insurance
Company effective December 31, 1964, the surviving corporation being American Capitol
Insurance Company licensed in the Canal Zone January 20, 1965.
4 National Western Life Insurance Company merged with Illinois-Mid Continent Life
Insurance Company effective May 12, 1965, the surviving corporation being National Western
Life Insurance Company licensed in the Canal Zone July 12, 1965.
5 Peninsular Life Insurance Company licensed in the Canal Zone December 2, 1965.






AETNA CASUALTY AND SURETY COMPANY
(No transactions in Canal Zone during 1965)

AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1965)


COLONIAL INSURANCE COMPANY


Auto liability (BI)___________
Auto property damage __ ------
Hospital and medical -----------------
Auto comprehensive__ ----------
Auto collision __--------- -------------
Fire---------------
Burglary and theft__- ___---__
Total -------------
Premium tax paid in Canal Zone-----------


OF PANAMA
Net
Premiums
$52,151.87
30,207.31
4,424.28
8,440.40
34,980.23
8,143.42
8,044.51
$146,392.02
$2,195.88


COMMERCIAL INSURANCE COMPANY
Net
Premiums
Automobile and motor vehicle----------_ ----- $10,940.28
Burglary and theft------------- -------- 1,130.17
Workmen's compensation------------ _----- 92,785.64
Liability other than auto --___----------- 6,261.68
Accident--_------ ----------------- 15.20
Miscellaneous ____---- ----------------- 2,255.42
Total _________---------------- $113,388.39
Premium tax paid in Canal Zone------------- $1,700.83



COMPAMIA GENERAL DE SEGUROS, S.A.


Fire ----------------------------
Surety .-.-------------------------
Liability other than auto_---------- ------
Workmen's compensation_---------------
Auto comprehensive ---------..-----------
Auto liability (B.I.) ..__ ----------------.
Auto collision - - - - - - -
Auto property damage - -
Extended coverage ----------------------
Hospital and medical ------------------
Total --------------------------
Premium tax paid in Canal Zone _------------


Net
Premiums
$1,327.60
6,561.27
341.56
9,886.03
252.40
426.33
663.19
307.74
129.99
68.90
$19,965.01
$299.47


Losses
Paid
$26,645.28
13,067.35
0.00
5,488.78
9,653.17
32.00
1,022.84
$55,909.42






Losses
Paid
$969.45
0.00
54,439.30
97.95
0.00
0.00
$55,506.70






Losses
Paid
$0.00
0.00
0.00
5,534.52
0.00
0.00
0.00
0.00
0.00
0.00
$5,534.52






COMPARIA INTERAMERICANA DE SEGUROS, S.A.
Net Losses
Premiums Paid
Workmen's compensation ___ ___---------- $104.95 $0.00
Liability other than auto ______---------___ 30.00 0.00
Fire _____ ______________-----------_ 2,258.94 0.00
Automobile ------------------------ 5,100.71 1,468.00
Inland marine _____________________ --12.87 0.00
Surety _____ ----------------------878.08 0.00
Total----- -------------------- $8,385.55 $1,468.00
Premium tax paid in Canal Zone __--_----- $125.78
COMPARIA INTERNATIONAL DE SEGUROS, S. A.
Net Losses
Premiums Paid
Fire_ ---------- --__-------------- $1,167.64 $0.00
Total-------------_ _---------- $1,167.64 $0.00
Premium tax paid in Canal Zone- --_------- $17.51
COMPARIA ISTMESA DE SEGUROS, S. A.
(No transactions in Canal Zone during 1965)
CONTINENTAL CASUALTY COMPANY
Net Losses
Premiums Paid
Inland marine ------------------------ $3.08 $75.95
Accident----------------------------_ 178.36 1,290.26
Accident and health --____--------------- 3,966.12 3,965.98
Hospital and medical ---------------- 164.81 275.35
Group accident and health-______ ---------1,532.27 4,700.06
Liability other than auto (B.I.) -------------- 103.05 32.58
Property damage other than auto------ -------2.00 0.00
Auto liability (B.I.)----------------___ 4,323.83 0.00
Auto property damage-__________________ 2,165.65 0.00
Auto physical damage_------------------- 6,393.34 357.48
Total ___----------------------- $18,832.51 $10,697.66
Premium tax paid in Canal Zone-____________ $282.49
CONTINENTAL INSURANCE COMPANY
Net Losses
Premiums Paid
Miscellaneous ---------------___________$944.00 $0.00
Total____________ -------------$944.00 $0.00
Premium tax paid in Canal Zone _----------_ $14.16
FIDELITY AND CASUALTY COMPANY OF NEW YORK
Net Losses
Premiums Paid
Surety__ ____________----------_ $7,370.03 $0.00
Workmen's compensation---------_____---- 0.00 19.00
Total--________________________ $7,370.03 $19.00
Premium tax paid in Canal Zone_-____________ $110.55






FIDELITY AND DEPOSIT COMPANY OF MARYLAND
Net Losses
Premiums Paid
Fidelity ----------- ------------ $1,250.00 $0.00
Surety ----------- ---___----(Cr.) 3,001.20 0.00
Total ----------------------(Cr.) $1,751.20 $0.00
Premium tax paid in Canal Zone --------_- $0.00


FIREMAN'S INSURANCE COMPANY OF NEWARK
Net
Premiums
Fire --------- --- ------------------ $25,124.17
Automobile and motor vehicle ---------------_ 240,774.33
Liability other than auto ---------------_ 8,449,47
Workmen's compensation ___ _____-------- 4,500.00
Total-- ----------------------- $278,847.97
Premium tax paid in Canal Zone_ ----------_ $4,182.72

GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1965)


Property
Surety -
Workmen'
Liability
To
Premium


HARTFORD ACCIDENT AND INDEMNITY COMPANY
Net
Premiums
damage other than auto ------------- $2.38
------------------_ 44.00
s compensation- __------------------_ 50.62
other than auto (B.I.)--------------- ___ 201.87
tal_______------------------_ $298.87
tax paid in Canal Zone_------------ $4.48


INSURANCE COMPANY OF NORTH AMERICA
Net
Premiums
Ocean marine .__________ _____--------_ $550.50
Surety --- ---___ ------------------_ 2,060.12
Total -----------_-_-- ------ $2,610.62
Premium tax paid in Canal Zone------------ $39.16


Auto liabil
Auto prope
Auto physi
Liability ol
Tot
Premium t


INTERNATIONAL SERVICE INSURANCE COMPANY
Net
Premiums
ity (B.I.) ---------------- ---- $16,711.25
rty damage ____----------------_ 9,159.05
cal damage --------------------55,017.95
other than auto (B.I.)______________ 4.00
al] ____________--_-------- $80,892.25
ax paid in Canal Zone- ---------- $1,213.38


Losses
Paid
$183.25
83,229.14
483.00
0.00
$83,895.39


Losses
Paid
$0.00
0.00
0.00
0.00
$0.00




Losses
Paid
$0.00
0.00
$0.00




Losses
Paid
$13,076.85
6,521.64
19,453.09
0.00
$39,051.58






THE LIBERTY MUTUAL INSURANCE COMPANY
Net
Premiums
Health and accident -----__-------_--(Cr.) $12.00
Group accident and health---------------__ 41.00
Workmen's compensation___ ------------------ 146.00
Liability other than auto (B.I.)______________ 321.00
Property damage other than auto-____________ 225.00
Total _______________---------_ $721.00
Premium tax paid in Canal Zone------------- $10.82

MARYLAND CASUALTY COMPANY


Hospital __________ -------
Accident -----
Health_--------------------_-------
Group accident and health _
Auto liability _____- ------------ ----
Liability other than auto--- ------
Fidelity. .._____________________....
Surety__- _--_--__------------------
Fidelity --------------------------
Surety
Glass ................
Burglary and theft-_- --
Auto property damage
Inland marine.- -------------------
Property damage other than auto ___- _--
Workmen's compensation _________
Automobile physical damage ---- -
Fire _____
Extended coverage - - ----
Total _________________________
Premium tax paid in Canal Zone ______


Premiums
$2,051.62
446.18
47.50
1,330.80
30,372.40
8,587.85
17,503.00
45,512.72
28.00
20,210.17
15,586.68
2,468.30
5,214.83
88,782.37
40,547.77
6,359.82
226.20
$285,276.21
$4,279.14


Losses
Paid
$0.00
0.00
0.00
0.00
0.00
$0.00


Losses
Paid
$552.30
0.00
0.00
1,285.10
10,687.95
74.40
0.00
0.00
0.00
2,959.00
14,950.12
406.55
3,232.32
46,273.59
25,942.27
0.00
0.00
$106,363.60


MUTUAL OF OMAHA INSURANCE COMPANY
Net Losses
Premiums Paid
Croup accident and health -------- -------- $12,981.38 $7,777.34
Accident---------------------------- 1,224.70 0.00
Health and accident-__-________________- 109,345.72 43,110.55
Hospital and medical-___________________ 1,411,736.67 1,184,347.26
Total -------- ---------------- $1,535,288.47 $1,235,235.15
Premium tax paid in Canal Zone------------ $23,029.33


NATIONAL SURETY CORPORATION
Net
Premiums
Surety ________--- ------------ $1,533.76
Total -------------------------- $1,533.76
Premium tax paid in Canal Zone------------- $23.01


Losses
Paid
$0.00
$0.00






NATIONAL UNION FIRE INSURANCE COMPANY
Net
Premiums
Fire ___------ ----- ---------------- $3,019.24
Automobile and motor vehicle ---------- -(Cr.) 296.08
Liability other than auto_ --------------(Cr.) 53.00
Total -------------------------- $2,670.16
Premium tax paid in Canal Zone ------------ $40.05


PANAMA INSURANCE COMPANY


Fire -__-__- ____- ----------------
Workmen's compensation- _- -----
Liability other than auto __-__--------
Surety- _____------------------- --..
Automobile____----------
Miscellaneous __ ________________
Total- ------------------------
Premium tax paid in Canal Zone-----------


Net
Premiums
$5,573.73
100,268.34
13,039.30
26,354.54
4,405.69
3,769.90
$153,411.50
$2,301.18


Losses
Paid
$0.00
1,870.65
0.00
$1,870.65


Losses
Paid
$0.00
23,991.34
3,367.54
127,589.86
1,817.85
6,363.50
$163,130.09


ROYAL INDEMNITY COMPANY
Net Losses
Premiums Paid
Fire -------__-------- ---------- $0.00 (Cr.)$493.00
Miscellaneous -------------------------227.99 0.00
Surety ----------- ----------------- 0.00 (Cr.)146,418.35
Total_ ------------------------- $227.99 (Cr.)$146,911.35
Premium tax paid in Canal Zone------------- $3.42


SEABOARD SURETY COMPANY
(No transactions in Canal Zone during 1965)


TRANSAMERICA INSURANCE COMPANY
Net
Premiums
Surety --------------_--------------- $2,675.00
Total --------------____------- $2,675.00
Premium tax paid in Canal Zone ------------_ $40.13


Losses
Paid
$0.00
$0.00


TRAVELERS INDEMNITY COMPANY


Surety ------------- -----------------
Total ------------------------ ---
Premium tax paid in Canal Zone ------------.


Net
Premiums
$227.00
$227.00
$3.41


Losses
Paid
$0.00
$0.00






UNITED STATES FIDELITY AND GUARANTY COMPANY
Net Losses
Premiums Paid
Extended coverage-------------- --------_ $56.10 $0.00
Auto collision ------------------ -------_ 25,858.90 7,575.47
Fire ------------------------------_ 3,805.10 160.40
Inland marine _-_ __________----------- 605.00 0.00
Accident--------- -------____--____-_ 49.50 0.00
Workmen's compensation_ ------_ 18,108.00 5,155.25
Liability other than auto (B.I.) _____------- 3,305.95 142.40
Auto liability (B.I.)_____ ----------------- 32,859.89 2,672.88
Auto property damage- ---------_ 19,139.84 14,152.61
Auto physical damage_____----------_ 17,852.16 7,038.50
Property damage other than auto ___-------- 1,221.07 211.82
Fidelity-___________________________ 2,582.12 365.50
Surety ________ ______---------------_ 2,178.98 (Cr.) 50.00
Burglary and theft__ --__--------------_ 9,452.07 2,236.35
Miscellaneous_______ ____________----_ 0.00 20.75
Total _______----------------_ $137,074.68 $39,681.93
Premium tax paid in Canal Zone ____________ $2,056.12









AMERICAN-AMICABLE LIFE INSURANCE COMPANY

ORDINARY
Number Amount
Policies in force December 31, 1964____-----___ 20 $148,972.00
Policies issued during 1965 ______________----_ 0 0.00
Total____ _ -- ___ __________ ---20 $148,972.00
Ceased to be in force during 1965 -------------- 3 29,000.00
Policies in force December 31, 1965 ---------- 17 $119,972.00
Losses and claims:
Unpaid December 31, 1964 --------------_ 0 $0.00
Incurred during 1965 -- ----------------- 0 0.00
Settled during 1965___________________- 0 $0.00
Total_____---- ---------------- 0 0.00
Unpaid December 31, 1965 _----------_ 0 $0.00


GRouP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance --------------------------- $2,019.14
Accident and Health _________ ---------------- 0.00
Total---------------------- ------_ __ $2,019.14
Premium tax paid in Canal Zone ------------- ----___ $30.29






AMERICAN CAPITOL INSURANCE COMPANY

ORDINARY
Number
Policies in force December 31, 1964 ___________ 900
Policies issued during 1965 ------------------567
Total ----- -------- _-----------_ 1,467
Ceased to be in force during 1965-_____________ 95
Policies in force December 31, 1965___________ 1,372
Losses and claims:
Unpaid December 31, 1964_ -- ----------- 0
Incurred during 1965------- ------------ 0


Total _____________
Settled during 1965 ----_-- ____
Unpaid December 31, 1965_ ----__


0
0
0


GRouP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance __________
Accident and Health __-- _- ---- --
Total ______------------
Premium tax paid in Canal Zone-----------


Amount
$3,167,540.00
1,966,302.00
$5,133,842.00
44,958.00
$5,088,884.00

$0.00
0.00
$0.00
0.00

$0.00




$115,169.40
4,003.00
$119,172.40
$1,787.58


AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK
(No transactions in Canal Zone during 1965)






BANKERS LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Number
Policies in force December 31, 1964-----------_ 1,613
Policies issued during 1965 ---------647
Total ________------------___ 2,260
Ceased to be in force during 1965 ------------- 564
Policies in force December 31, 1965--------__ -- 1,696
Losses and claims:
Unpaid December 31, 1964 ______________ 1
Incurred during 1965_ -_______________ 12
Total ___________-----------------_ 13
Settled during 1965- ------------------- 13
Unpaid December 31, 1965____------------ 0

GRouP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance _____ _________
Accident and Health __ -
Total_ -------------------
Premium tax paid in Canal Zone------------ ___


CITIZENS STANDARD LIFE INSURANCE COMPANY

ORDINARY


Number
Policies in force December 31, 1964 ____- ______ 1,744
Policies issued during 1965__ _-------------- 758
Total ___________----------_____ 2,502
Ceased to be in force during 1965-_____________ 432
Policies in force December 31, 1965 ------- __ 2,070
Losses and claims:
Unpaid December 31, 1964_____________ 1
Incurred during 1965-- ---------------- 11
Total _______------------- --- 12
Settled during 1965_ ---------- -------- 11
Unpaid December 31, 1965-------_------- 1


GRouP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance ------------------------
Accident and Health_ ------- _-_-
Total _----------------
Premium tax paid in Canal Zone ---- -----------


Amount
$6,666,123.00
2,173,654.00
$8,839,777.00
2,133,316.00
$6,706,461.00

$2,500.00
18,253.02
$20,753.02
20,753.02
$0.00




$215,602.15
0.00
$215,602.15
$3,234.02


Amount
$7,058,915.00
2,748,334.00
$9,807,249.00
1,948,291.00
$7,858,958.00

$7,500.00
15,452.73
$22,952.73
21,835.73
$1,117.00




$220,946.19
60,871.82
$281,818.01
$4,227.27






EQUITY ANNUITY LIFE INSURANCE COMPANY
ORDINARY Number Amount
Policies in force December 31, 1964 ------------- 13 $13,000.00
Policies issued during 1965-------- -------- 0 0.00
Total _________------------------_ 13 $13,000.00
Ceased to be in force during 1965------_ ------ 5 5,000.00
Policies in force December 31, 1965_ ______--_ 8 $8,000.00
Losses and claims:
Unpaid December 31, 1964 ______________ 0 $0.00
Incurred during 1965_ ------------ ---- 0 0.00
Total______________-----------___ 0 $0.00
Settled during 1965_--_ _____--_ -------- 0 0.00
Unpaid December 31, 1965 ______-------_ 0 $0.00

GROUP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance -------- ------------------ $3,111.29
Accident and Health ---------------------- 0.00
Total ------------ ------------------- $3,111.29
Premium tax paid in Canal Zone __---- --------- $46.67


FIDELITY AND GUARANTY LIFE INSURANCE COMPANY
ORDINARY


Number
Policies in force December 31, 1964___-------- 103
Policies issued during 1965-___ ---- --------- 0
Total __________ ---- ------------- 103
Ceased to be in force during 1965-___------- --- 6
Policies in force December 31, 1965 ___-----__ 97
Losses and claims:
Unpaid December 31, 1964 ______________ 0
Incurred during 1965------------ 1
Total ___________________________ 1
Settled during 1965_-- ------------------ 1
Unpaid December 31, 1965___--_--_-- 0

GROUP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance _-----------------
Accident and Health _-__- ___ _-_---
Total -- ___ ------ -----
Premium tax paid in Canal Zone _ - -


Amount
$667,554.00
0.00
$667,554.00
34,016.00
$633,538.00

$0.00
250.00
$250.00
250.00
$0.00




$10,791.95
0.00
$10,791.95
$161.88






THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Number
Policies in force December 31, 1964 ---________ 1,733
Policies issued during 1965-_________________ 139
Total _-----_______________ __ 1,872
Ceased to be in force during 1965--------------__ 286
Policies in force December 31, 1965_ -----_-_____ 1,586
Losses and claims:
Unpaid December 31, 1964--______________ 0
Incurred during 1965 ------------------- 18
Total ______________ _____________ 18
Settled during 1965____________________ 18
Unpaid December 31, 1965 -------------- 0

GRouP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance________ ______
Accident and Health _----- ___ _____
Total________________________________
Premium tax paid in Canal Zone________ ____


Amount
$9,292,170.00
1,057,053.00
$10,349,223.00
1,240,988.00
$9,108,235.00

$0.00
43,478.00
$43,478.00
43,478.00
$0.00




$265.057.16
10.00
$265,067.16
$3,976.01






LINCOLN NATIONAL LIFE INSURANCE COMPANY

ORDINARY


Number
Policies in force December 31, 1964_ ___-____- 644
Policies issued during 1965------------------ 46
Total _______--_----__----------- 690
Ceased to be in force during 1965-_____________ 47
Policies in force December 31, 1965 ----------__ 643
Losses and claims:
Unpaid December 31, 1964______________ 1
Incurred during 1965-_ ------- ---------- 11
Total _________________________-_ 12
Settled during 1965---_ ---------------- 12
Unpaid December 31, 1965-_ _______---- 0

GRoup
Number
Policies in force December 31, 1964___----- 0
Policies issued during 1965_ --------0------- 0
Total ____________-- ------------- 0
Ceased to be in force during 1965-____---- 0
Policies in force December 31, 1965 ____- ------ 0
Losses and claims:
Unpaid December 31, 1964-______________ 0
Incurred during 1965_- ------ --------- 0
Total ____________---------_----- 0
Settled during 1965 --_ ----- -------- - 0
Unpaid December 31, 1965------ ------ 0
Net premiums collected in Canal Zone during 1965:
Life Insurance_________ ___-__----------
Accident and Health --_____------------- _-_-
Total ------ -------------------------
Premium tax paid in Canal Zone --------------------


Amount
$4,024,625.00
489,944.00
$4,514,569.00
306,337.00
$4,208,232.00

$10,000.00
50,389.00
$60,389.00
60,389.00
$0.00


Amount
$47,787.00
,0.00
$47,787.00
59.00
$47,728.00

$0.00
0.00
$0.00
0.00
$0.00

$122,106.99
2,262.04
$124,369.03
$1,865.54






NATIONAL WESTERN LIFE INSURANCE COMPANY

ORDINARY
Number Amount


Policies in force December 31, 1964------------- 2
Policies issued during 1965 ------- --___---- 1
Total _______-------------------- 3
Ceased to be in force during 1965-_____________ 0
Policies in force December 31, 1965-____________ 3
Losses and claims:
Unpaid December 31, 1964 ______________ 0
Incurred during 1965_-- ------------ 0
Total-___________________________ 0
Settled during 1965 -_________---------- 0
Unpaid December 31, 1965- ----------- 0

GROUP-None

Net premiums collected in Canal Zone during 1965:
Life Insurance __ _-------------
Accident and Health_____________ __
Total-- _----------------------- ----
Premium tax paid in Canal Zone ----------


$20,000.00
20,000.00
$40,000.00
0.00
$40,000.00

$0.00
0.00
$0.00
0.00
$0.00


$738.47
0.00
$738.47
$11.08






PAN-AMERICAN LIFE INSURANCE COMPANY


ORDINARY
Number
Policies in force December 31, 1964 _____------ 146
Policies issued during 1965______ --_------ 1
Total _-----------___-_--------- 147
Ceased to be in force during 1965 ------------- 7
Policies in force December 31, 1965 __--------- 140
Losses and claims:
Unpaid December 31, 1964-______________ 1
Incurred during 1965 __---------------- 0
Total ________------------------- 1
Settled during 1965----_ ---- ---1---- 1
Unpaid December 31, 1965_-- -_---------- 0

GRoup-None

Net premiums collected in Canal Zone during 1965:
Life Insurance ___----- -------------------
Accident and Health_------------------------
Total ---------------------------------
Premium tax paid in Canal Zone---------------------

PENINSULAR LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1965)


THE SERVICE LIFE INSURANCE COMPANY
ORDINARY
Number
Policies in force December 31, 1964 _____------ 24
Policies issued during 1965 ___---------- ---- 31
Total _______--------- ------------ 55
Ceased to be in force during 1965 _------------- 7
Policies in force December 31, 1965------------- 48
Losses and claims:
Unpaid December 31, 1964 ---_______ ---- 0
Incurred during 1965 __- -- --------0-- 0
Total _________---- -------------- 0
Settled during 1965------- -- ----------- 0
Unpaid December 31, 1965_ ___----------- 0

GROUP-None

Net premiums collected in Canal Zone during 1965:
Life Insurance --------- ------------------
Accident and Health _------- ----------- -----
Total _--------__ ----------------------
Premium tax paid in Canal Zone-------------------


Amount
$1,187,873.00
25,000.00
$1,212,873.00
62,213.00
$1,150,660.00

$2,000.00
0.00
$2,000.00
2,000.00
$0.00




$26,879.17
0.00
$26,879.17
$403.19


Amount
$127,632.00
414,566.00
$542,198.00
114,590.00
$427,608.00

$0.00
0.00
$0.00
0.00
$0.00




$4,104.35
0.00
$4,104.35
$61.57






UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY Number Amount
Policies in force December 31, 1964 __---------_ 693 $2,886,579.00
Policies issued during 1965------------------_ 68 347,889.00
Total __________ _______----------- 761 $3,234,468.00
Ceased to be in force during 1965-. --------- 84 319,030.00
Policies in force December 31, 1965_ -----------_ 677 $2,915,438.00
Losses and claims:
Unpaid December 31, 1964 ______________ 0 $0.00
Incurred during 1965--.--._-___-______-_ 3 6,058.00
Total ____________--------------_ 3 $6,058.00
Settled during 1965 -- ----------------__ 3 6,058.00
Unpaid December 31, 1965 - - --__ ___ 0 $0.00
GROUP Number Amount
Policies in force December 31, 1964_ ------------ 2 $92,863,000.00
Policies issued during 1965--------- ---_---__ 0 8,146,300.00
Total _______ _________----------- 2 $101,009,300.00
Ceased to be in force during 1965______________ 0 484,000.00
Policies in force December 31, 1965 --------- 2 $100,525,300.00
Losses and claims:
Unpaid December 31, 1964______________ 1 $1,500.00
Incurred during 1965_ ---- -------------- 95 481,500.00
Total__________--------------____ 96 $483,000.00
Settled during 1965 ------ ----- ----- 93 464,000.00
Unpaid December 31, 1965____-__________ 3 $19,000.00
Net premiums collected in Canal Zone during 1965:
Life Insurance ----- ------------------ --- $616,767.58
Accident and Health _-------------_ ----- 45,173.03
Total _------------ ---------- ____- $661,940.61
Premium tax paid in Canal Zone .------.------ $9,929.11

UNITED SERVICES LIFE INSURANCE COMPANY
ORDINARY Number Amount
Policies in force December 31, 1964 --_ ------__ 156 $1,416,500.00
Policies issued during 1965------------______ 8 90,000.00
Total ---------------------------- 164 $1,506,500.00
Ceased to be in force during 1965 ----------- 1 5,000.00
Policies in force December 31, 1965 --- -----_ 163 $1,501,500.00
Losses and claims:
Unpaid December 31, 1964_ _____________ 0 $0.00
Incurred during 1965 ------- ---------- 0 0.00
Total---- ______--- -------------_ 0 $0.00
Settled during 1965_ ---------------- 0 0.00
Unpaid December 31, 1965__ ------------- 0 $0.00
GROUP-None
Net premiums collected in Canal Zone during 1965:
Life Insurance ----------- -----------_____ $23,781.91
Accident and Health-------------------- ------ 0.00
Total--------------------------------- $23,781.91
Premium tax paid in Canal Zone- ----------____ __- $356.73






UNITED STATES LIFE INSURANCE COMPANY

ORDINARY


Number
Policies in force December 31, 1964 _____-______ 37
Policies issued during 1965---.-------.---..- 0
Total____________----------------_ 37
Ceased to be in force during 1965-------------- 6
Policies in force December 31, 1965------------- 31
Losses and claims:
Unpaid December 31, 1964 ______________ 0
Incurred during 1965---- ---------------_ 1
Total ______________________ 1
Settled during 1965-____-____- ---___--__ 1
Unpaid December 31, 1965___------------- 0

GROUP


Policies in force December 31, 1964 _____---
Policies issued during 1965_______--


Number
2
0


Total-___________________________ 2
Ceased to be in force during 1965---------- __ 1
Policies in force December 31, 1965------------ 1
Losses and claims:
Unpaid December 31, 1964-______________ 0
Incurred during 1965____----------------- 0
Total_____________--------------- 0
Settled during 1965-------------_----- 0
Unpaid December 31, 1965 --------_------ 0
Net premiums collected in Canal Zone during 1965:
Life Insurance--------------------
Accident and Health ------------------
Total ____ -----------
Premium tax paid in Canal Zone -----__-____- _


Amount
$538,452.00
7.00
$538,459.00
92,324.00
$446,135.00

$0.00
5,000.00
$5,000.00
5,000.00
$0.00


Amount
$226,000.00
0.00
$226,000.00
47,000.00
$179,000.00

$0.00
0.00
$0.00
0.00
$0.00


$12,703.90
13,099.49
$25,803.39
$387.05


WABASH LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1965)










17






RECAPITULATION


MISCELLANEOUS COMPANIES


Accident--------------------------
Automobile and motor vehicle- __________
Auto comprehensive ________________
Auto collision-______________________
Auto liability (B.I.)--------__________-
Auto property damage_________________
Auto physical damage _________________
Burglary and theft -- ------_____--
Extended coverage- --___------__-___
Fidelity- -------------__________
Fire-----------------------------
Glass-----_______________________
Group accident and health _ _ ___ _
Health and accident- ---___________ -- -
Hospital and medical-------------------
Inland marine_-----------------------
Liability other than auto_-------_ -______
Miscellaneous- ---_ -- -__- ______- ____
Ocean Marine _________________
Property damage other than auto ---------
Surety-________________
Workmen's compensation_______________
Total_-_____--_-_-- ---
Premium taxes paid in Canal Zone __________


Net Losses
Premiums Paid
$1,913.94 $1,290.26
260,924.93 89,355.09
8,692.80 5,488.78
61,502.32 17,228.64
136,845.57 53,082.96
76,566.27 48,691.72
119,811.22 52,791.34
38,836.92 6,218.19
412.29 0.00
21,335.12 365.50
56,779.66 (Cr.) 117.35
28.00 0.00
15,885.45 13,762.50
113,347.34 47,076.53
1,418,446.28 1,185,174.91
3,089.25 482.50
40,592.73 4,197.87
7,197.31 6,384.25
550.50 0.00
6,665.28 3,444.14
92,394.30 (Cr.) 18,878.49
314,631.95 135,413.00
$2,796,449.43 $1,651,452.34
$41,973.02


LIFE INSURANCE COMPANIES

ORDINARY
Number
Policies in force December 31, 1964 ------------ 7,828
Policies issued during 1965-_ ----------------2,266
Total ____________ - ----------- 10,094
Ceased to be in force during 1965-_____________ 1,543
Policies in force December 31, 1965- __________ 8,551
Losses and claims:
Unpaid December 31, 1964 _________ 4
Incurred during 1965_ __ ___ ________ 57
Total-___________---______________ 61
Settled during 1965--_ __ ---_ -----_ ---- 60
Unpaid December 31, 1965- ___ -----_-- 1


Amount
$37,215,935.00
9,332,749.00
$46,548,684.00
6,335,063.00
$40,213,621.00

$22,000.00
138,880.75
$160,880.75
159,763.75
$1,117.00






GROUP


Policies in force December 31, 1964 _________
Policies issued during 1965------------------
Total _______ __________ ----.--
Ceased to be in force during 1965 ------
Policies in force December 31, 1965 _-- ----
Losses and claims:
Unpaid December 31, 1964- -------
Incurred during 1965--------------------


Number Amount
4 $93,136,787.00
0 8,146,300.00
4 $101,283,087.00
1 531,059.00
3 $100,752,028.00


1
95


Total ________--- -------------- 96
Settled during 1965_------------------- 93
Unpaid December 31, 1965_-------------- 3
Net premiums collected in Canal Zone during 1965:


$1,500.00
481,500.00
$483,000.00
464,000.00
$19,000.00


Life Insurance --------- ------------------ $1,639,779.65
Accident and Health_ --- ----------------- 125,419.38
Total-------------.-------------------- $1,765,199.03
Premium tax paid in Canal Zone ___---- ------------ $26,477.99

The relatively small amount of fire insurance business written is due to the
fact that practically all structures in the Canal Zone are owned by the
Government of the United States and are not covered by fire insurance.
Following is a statement of property in the Canal Zone involved in fires
and the damages resulting therefrom during the year ended December 31,
1965:


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
property
involved
$10,511,870.90
5,933,032.31
2,500.00
20,828,788.65
23,651,700.00'
2,408,206.60
$63,336,098.46


Amount of
damage
by fire
$4,507.30
2,856.00
150.00
413,120.48
12,650.00*
19,684.08
$452,967.86


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 companies.-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 insurance
policies that it may issue.
SEc. 874. Annual statement and license tax for insurance companies.-
An insurance company licensed pursuant to this chapter shall file with the
executive secretary of the Canal Zone Government before March 1 of each
year a verified statement showing the business transacted within the Canal
Zone by the company during the previous calendar year and a duly certified
copy of its annual report to an authorized official of the State or country in
which the company is organized. Upon a showing of good cause therefore,
the executive secretary may extend the time for filing the statement for a
period not exceeding two months after March 1.
An insurance company licensed pursuant to this chapter shall pay before
March 1 of each year, in lieu of all other taxes except the annual fee provided
for by section 876 of this title, a license tax equal to 1V percent of its net
premium receipts in the Canal Zone for the proceeding calendar year.
SEC. 875. Issuance of license.-Upon compliance by a corporation with
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 limitations.-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.





(c) Every contract made by or on behalf of such a corporation affecting
the liability thereof or relating to property within the Canal Zone is void
on its behalf and on behalf of its assigns, but is enforceable against it or them.
SEC. 880. Corporations dealing in securities.-A corporation licensed
pursuant to Chapter 79 of this title is not required to comply with sections
871-879 of this title.
SEC. 881. Surrender of license to do business.-(a) A corporation
licensed to do business in the Canal Zone may surrender its license by filing
with the executive secretary of the Canal Zone Government a certificate
signed and acknowledged 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,
process against the corporation may be served upon the executive secretary
of the Canal Zone Government in any action upon a liability or obligation
incurred within the Canal Zone prior to the revocation or the filing of the
certificate of surrender.
(b) Section 872(b) of this title applies to service of process upon the
executive secretary pursuant to this section.
(c) The revocation or surrender of a license does not affect any action
pending at the time.



14072-500




















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