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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: 1966
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: VID00006
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





4b
00o L ZONE GOVERNMENT






\%>
NUAL REPORT
OF

INSURANCE BUSINESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1966



Including-Laws Concerning Licensing




:1((11111111111lilililllll







CANAL ZONE GOVERNMENT


ANNUAL


REPORT


OF


INSURANCE


BUSINESS


transacted in the


CANAL


ZONE


DURING THE CALENDAR YEAR

1966


Including Laws Concerning Licensing
Of Insurance Companies


i























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


http://www.archive.org/details/annualreportofin 1966cana








CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR


BALBOA HEIGHTS, C.Z. March 29, 1967.


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 1966.

Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.

The following companies were authorized to transact business in the Canal
Zone during the year 1966:
Aetna Casualty and Surety Company -------------- Hartford, Conn.
American-Amicable Life Insurance Company---_ -----Birmingham, Ala.
American Capitol Insurance Company --------------_ Houston, Tex.
American Employers' Insurance Company1 ____________-Boston, Mass.
American International Life Assurance Company of New York-
New York, N.Y.
American Motorists Insurance Co. -------------------- Chicago, Ill.
Bankers Life Insurance Company of America _----------- Dallas, Tex.
Citizens Standard Life Insurance Company, _____---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.
Compafiia Interamericana de Seguros, S.A. ------------Panama, R. of P.
Compafiia Internacional de Seguros, S.A. --------------Panama, R. of P.
Compafiia 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.
Insurance Company of North America ------------Philadelphia, Pa.
1 American Employers' Insurance Company licensed in the Canal Zone January 20, 1966.





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 Company- ------_-----Denver, Colo.
Panama Insurance Company, Inc. -----_-----_--_--Panama, R. of P.
Pan-American Life Insurance Company------_ New Orleans, La.
Peninsular Life Insurance Company---------------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 --------------San 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.





AETNA CASUALTY AND SURETY COMPANY
(No transactions in Canal Zone during 1966)
AMERICAN EMPLOYERS' INSURANCE COMPANY
Net
Premiums
Workmen's compensation_ ------------- $2.10
Auto liability (B.I.) --- --------------- 623.00
Auto property damage ---------------- 513.36
Auto physical damage ------- ------ 7.04
Total ----------------------- $1,145.50
Premium tax paid in Canal Zone -------------- $17.18
AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1966)
COLONIAL INSURANCE COMPANY OF PANAMA


Auto liability (B.I.)------- ----
Auto property damage---------------
Hospital and medical ------------
Auto comprehensive_------ ---------------
Auto collision - - - - - - - - - -
Fire-------------------------------
Burglary and theft- - - - -- - - -
Total-------------------------
Premium tax paid in Canal Zone- - - -


Net
Premiums
$48,112.01
28,023.80
3,753.82
6,356.27
30,675.71
7,244.05
7,194.83
$131,360.49
$1,970.41


COMMERCIAL INSURANCE COMPANY
Net
Premiums
Automobile and motor vehicle-- ______---____ $4,220.87
Burglary and theft ------ --___ ----------_ 0.00
Workmen's compensation ------ ----------- 39,068.79
Liability other than auto -- ------ --- 7,525.05
Accident ---------_-----------------_ 138.10
Miscellaneous __ _ _ _ _ _-_ 0.00
Total_ ----------------------- $50,952.81
Premium tax paid in Canal Zone_ --------_-- $764.29
COMPARIA 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
$188.14
5,527.76
406.85
11,264.37
275.92
466.82
738.97
363.47
151.78
107.91
$19,491.99
$292.38


Losses
Paid
$11,865.10
14,585.86
123.00
1,977.55
11,024.76
97.89
2,051.68
$41,725.84



Losses
Paid
$201.74
50.54
17,574.83
2,461.12
0.00
229.38
$20,517.61



Losses
Paid
$0.00
0.00
0.00
4,698.48
0.00
0.00
0.00
0.00
0.00
0.00
$4,698.48


Losses
Paid
$0.00
0.00
0.00
0.00
$0.00





COMPARIA INTERAMERICANA DE SEGUROS, S.A.
Net Losses
Premiums Paid
Workmen's compensation- -- -------------_ $338.67 $0.00
Liability other than auto _________ __ ------21.07 0.00
Fire---- -------------------------- 1,853.15 0.00
Automobile--------------------------- 3,108.64 0.00
Inland marine -----------------------__ 100.00 0.00
Total------------------------_ $5,421.53 $0.00
Premium tax paid in Canal Zone- -------------_ $81,32 $0.00
COMPARIA INTERNATIONAL DE SEGUROS, S. A.
Net Losses
Premiums Paid
Fire------------------------------- $902.15 $0.00
Total-------------- ---------- $902.15 $0.00
Premium tax paid in Canal Zone ------------ $13.53
COMPARIA ISTMERA DE SEGUROS, S. A.
(No transactions in Canal Zone during 1966)
CONTINENTAL CASUALTY COMPANY
Net Losses
Premiums Paid
Inland marine --- -------------------- $7.87 $28.24
Accident ---------------------- 227.00 669.09
Accident and health -------------------- 3,150.75 3,567.22
Hospital and medical -----------------(Cr.) 87.16 106.39
Group accident and health ----------------- 2,039.63 1,718.16
Liability other than auto (B.I.)--------------- 30.10 13.14
Surety--------- _-_ _-_----_---- 115.00 0.00
Auto liability (B.I.)- ---__-- --- ----- ----- 2,088.72 0.00
Auto property damage-- ---------------- 1,027.88 1,187.20
Auto physical damage -- -- -----_ -- __ 2,687.04 1,091.81
Total-------------------------- $11,286.83 $8,381.25
Premium tax paid in Canal Zone------_ $169.30
CONTINENTAL INSURANCE COMPANY
Net Losses
Premiums Paid
Fire-_ --- ---------------------- -- $2,266.20 $0.00
Extended coverage--- ---- -------------- 631.15 0.00
Miscellaneous ------------------------- 858.00 0.00
Ocean Marine- ---------- -- ------ -- --- 0.00 11,016.60
Total ------_ ----------- ------ $3,755.35 $11,016.60
Premium tax paid in Canal Zone- ------------ -- $56.33
FIDELITY AND CASUALTY COMPANY OF NEW YORK
Net Losses
Premiums Paid
Workmen's compensation _--------------- $100.42 $787.50
Total -----------------------_ $100.42 $787.50
Premium tax Daid in Canal Zone __--------__ $1.51





FIDELITY AND DEPOSIT COMPANY OF MARYLAND


Fidelity -------------------------
Surety- - - - ____
Total- - - - - -
Premium tax paid in Canal Zone ----------
FIREMEN'S INSURANCE COMPANY


Fire --------------------------
Automobile and motor vehicle -----_ -
Liability other than auto _ ______
Workmen's compensation _- ---- --
Miscellaneous ----- --- -- -- -------
Total--------------------------
Premium tax paid in Canal Zone -------_-


Net
Premiums
$604.16
0.00
$604.16
$9.11
OF NEWAR]
Net
Premiums
$50,738.51
251,162.62
7,371.68
2,764.71
500.00
$312,537.52
$4,688.06


Losses
Paid
$0.00
(Cr.) 127.16
(Cr.) $127.16



Losses
Paid
$347.08
108,264.25
1,452.15
0.00
0.00
$110,063.48


GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1966)


HARTFORD ACCIDENT AND INDEMNITY COMPANY
Net Losses
Premiums Paid
Accident- ----------------_----______ $65.60 $0.00
Property damage other than auto----- -------- 1.15 0.00
Surety --------------------- - 801.00 0.00
Workmen's compensation------_ 0.00 160.00
Liability other than auto (B.I.) --------------- 1,227.49 0.00
Burglary and theft_ ------------------(Cr.) 431.52 0.00
Total-- ----------------------- $1,663.72 $160.00
Premium tax paid in Canal Zone -------------$24.96

INSURANCE COMPANY OF NORTH AMERICA
Net Losses
Premiums Paid
veean marine ------------------------$1,781.68 $0.00
Surety --------_ _----------------- 5,328.39 0.00
Total --------------- -------- $7,110.07 $0.00
Premium tax paid in Canal Zone------------- $106.65

INTERNATIONAL SERVICE INSURANCE COMPANY
Net Losses
Premiums Paid
Auto liability (B.I.)-------- ------ $20,666.93 $202.00
Auto property damage ----- --------------- 11,088.51 5,867.29
Auto physical damage_ ------------------ 72,889.06 19,912.19
Miscellaneous --- ------------------_ 72.00 0.00
Total ---------__-------------- $104,716.50 $25,981.48
Premium tax paid in Canal Zone ------------ $1,570.75






THE LIBERTY MUTUAL INSURANCE COMPANY
Net
Premiums
Health and accident ----------------_ (Cr.) $54.00
Group accident and health -----_-------___ 0.00
Auto liability (B.I.)--------------------- 53.00
Liability other than auto (B.I.)_------------_ 4.00
Property damage other than auto__----______ 4.00
Auto property damage ----- ------------24.00
Total ------------------------- $31.00
Premium tax paid in Canal Zone ------------ $0.47
MARYLAND CASUALTY COMPANY


Hospital ------_-- -----------------
Accident ----------------------------
Health -_ _------------------------
Group accident and health -- -----
Auto liability ----------------------
Liability other than auto ------ --
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 -__ ---- ----
Miscellaneous - ----_---- --
Total -------------------------
Premium tax paid in Canal Zone ------

MUTUAL OF OMAHA INSURANCE


Group accident and health -_ -- ----
Accident _-------- ---
Health and accident- ---------
Hospital and medical-----------


Net
Premiums
$1,929.35
332.06
47.50
1,308.00
31,070.39
6,800.29
2,804.50
53,134.00
28.00
5,959.61
16,481.59
3,048.82
2,610.47
47,816.76
45,427.90
3,442.26
305.00
68.00
$222,614.50
$3,339.22

COMPANY
Net
Premiums
$11,986.32
1,384.58
115,867.61
1,472,301.06


Losses
Paid
$0.00
(Cr.) 312.00
0.00
0.00
0.00
0.00
(Cr.) $312.00



Losses
Paid
$0.00
68.80
0.00
1,255.07
4,771.46
29.50
223.15
0.00
0.00
2,135.45
15,600.17
567.58
671.32
36,777.17
18,188.10
45.00
0.00
0.00
$80,332.77



Losses
Paid
$2,982.24
11.43
36,224.50
1,104,161.31


Total ------------------------ $1,601,539.57 $1,143,379.48
Premium tax paid in Canal Zone ------------- $24,023.09

NATIONAL SURETY CORPORATION


Surety ___ __ _____ __
Total ------------
Premium tax paid in Canal Zone ------


Net
Premiums
$700.00
$700.00
$10.50


Losses
Paid
$0.00
$0.00





NATIONAL UNION FIRE INSURANCE COMPANY
Net
Premiums
Automobile and motor vehicle- _--------- (Cr.) $4.85
Total ----------------------(Cr.) $4.85
Premium tax paid in Canal Zone- ---------- $0.00
PANAMA INSURANCE COMPANY
Net
Premiums
Fire- -------------------------- $3,583.32
Workmen's compensation -------------- -- 88,332.66
Liability other than auto ------------------ 10,797.82
Surety- -------------------------- 27,627.43
Automobile ------------------- ----- 3,409.43
Miscellaneous __ _ ___________----- ---- 1,949.20
Total ------------------------- $135,699.86
Premium tax paid in Canal Zone _----- ------ $2,035.50
ROYAL INDEMNITY COMPANY
Net
Premiums
Extended coverage ----------------- - $11.00
Fire------------------------------ 31.00
Miscellaneous_____ _____-------------- 165.00
Surety --------------------------- 0.00
Total-------------------------- $207.00
Premium tax paid in Canal Zone- ----------- $3.11
SEABOARD SURETY COMPANY
(No transactions in Canal Zone during 1966)
TRANSAMERICA INSURANCE COMPANY
Net
Premiums
Fire -- ------------------------- --- $2,586.25
Extended coverage ------ -------------- 362.65
Miscellaneous ----------------- - - 46.00
Fidelity----------------------- - 405.00
Total -------------------------- $3,399.90
Premium tax paid in Canal Zone ------------- $51.00
TRAVELERS INDEMNITY COMPANY
Net
Premiums
Miscellaneous ------ ------------------ $33.43
Inland Marine -----_ ------------------ 375.00
Liability other than auto (B.I.) ------------- 15.00
Property damage other than auto------------- 18.00
Auto liability (B.I.) -------------------- 104.00
Auto property damage _---------------- 41.00
Auto physical damage ----------------- 22.00
Total ------------------------- $608.43
Premium tax paid in Canal Zone------------- $9.13


Losses
Paid
$9.00
$9.00


Losses
Paid
$0.00
59,448.08
628.49
360.85
5,963.89
1,075.02
$67,476.33



Losses
Paid
$0.00
0.00
0.00
39,667.61
$39,667.61






Losses
Paid
$0.00
0.00
0.00
0.00
$0.00



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





UNITED STATES FIDELITY AND GUARANTY COMPANY


Extended coverage _-_------__________
Auto collision_ _ _ _ _ _ _ _________
Fire _________________________
Inland marine------------------------
Accident----_________________ ___-
Workmen's compensation _ _ -_ _
Liability other than auto (B.I.)___________- -
Auto liability (B.I.) __ - -
Auto property damage -_- __ _
Auto physical damage _______
Property damage other than auto- - - -
Fidelity _--- __________________
Surety ------____ _ _ --_ (Cr.)
Burglary and theft- -_--- _____
Miscellaneous_ _ _ __
Glass ------________
Total -_--- _________
Premium tax paid in Canal Zone___ _____


Net
Premiums
$1,091.76
30,573.00
8,844.52
618.00
50.00
26,297.43
2,990.02
35,496.00
20,713.00
20,504.50
1,193.60
3,663.50
187.00
8,694.00
15.00
45.00
$160,602.33
$2,409.03


Losses
Paid
$0.00
12,676.66
500.00
0.00
0.00
9,624.19
655.76
13,842.50
15,164.26
9,481.93
16.15
0.00
(Cr.) 50.00
768.16
0.00
0.00
$62,679.61


AMERICAN-AMICABLE LIFE INSURANCE COMPANY


Number
Policies in force December 31, 1965 -------------- 17
Policies issued during 1966_---- --------------- 0

Total __________________________ 17
Ceased to be in force during 1966 -------------- 1

Policies in force December 31, 1966-------_ 16
Losses and claims:
Unpaid December 31, 1965 --------------- 0
Incurred during 1966 -- ----------------- 0
Settled during 1966--- --------------- 0
Total_------- ------------------_ 0
Unpaid December 31, 1966_ -------------- 0


Amount
$119,972.00
0.00

$119,972.00
(-) 652.00
$120,624.00

$0.00
0.00

$0.00
0.00
$0.00


GROUP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance __________ _
Accident and Health- --_---- ------_-
Total --------------________ -
Premium tax paid in Canal Zone ------_-- _- _


$2,062.12
0.00
$2,062.12
$30.93





AMERICAN CAPITOL INSURANCE COMPANY

ORDINARY


Number
Policies in force December 31, 1965 -----------_ 1,372
Policies issued during 1966 -------_-------- 853
Total -------------------- ------ 2,225
Ceased to be in force during 1966- --- ----------_ 487
Policies in force December 31, 1966- -------------- 1,738
Losses and claims:
Unpaid December 31, 1965- ---------------- 0
Incurred during 1966 ------- __----------- 0
Total _-- ----___------------------ 0
Settled during 1966 -------_ ------------ 0
Unpaid December 31, 1966 ---------------- 0


GROUP-None
Net premiums collected in Canal Zone during 1966:
Life Insurance_ _ _ _ ------
Accident and Health- ___ _____ ___ -_ _--___-
Total ------------------____ __ ______ _
Premium tax paid in Canal Zone ---- ____ _


Amount
$5,088,884.00
3,612,155.00
$8,701,039.00
2,738,000.00
$5,963,039.00

$0.00
0.00

$0.00
0.00

$0.00




$166,585.31
13,580.32
$180,165.63
$2,702.48


AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK
ORDINARY-None


GROUP


Number Amount


Policies in force December 31, 1965- ------------- 0
Policies issued during 1966-- --------_-----__ 0
Total---- ------------------____ 0
Ceased to be in force during 1966_ -----------_ (-) 1
Policies in force December 31, 1966- ---------- 1
Losses and claims:
Unpaid December 31, 1965- --------------- 0
Incurred during 1966 ---- --_------------ 0


(


Total --_----------_-____________ 0
Settled during 1966 ---- ---------------- 0
Unpaid December 31, 1966 ---------- __---- 0
Net premiums collected in Canal Zone during 1966:
Life Insurance -------- _ _ __
Accident and Health ------_ _ _ _ _
Total _______________
Premium tax paid in Canal Zone -------- _ _ __-
*Portion of estimated incurred but not reported claim allocated
force premiums.


$0.00
0.00

$0.00
-) 256,555.00
$256,555.00

$246.29
0.00
$246.29
0.00
$246.29

$3,262.84
0.00
$3,262.84
$48.94
on basis of in





BANKERS LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Number
Policies in force December 31, 1965 --- -------- 1,696
Policies issued during 1966- ------------------187
Total_ _______ --- ------------- 1,883
Ceased to be in force during 1966_ -------------- 339
Policies in force December 31, 1966_ --------_---_ 1,544
Losses and claims:
Unpaid December 31, 1965 --------------- 0
Incurred during 1966 -- ---------------- 12
Total_ _ _ _ _------------_ 12
Settled during 1966---- ---- 8
Unpaid December 31, 1966------- 4


Amount
$6,706,461.00
479,224.00
$7,185,685.00
1,254,968.00
$5,930,717.00

$0.00
11,875.00
$11,875.00
8,375.00
$3,500.00


GRouP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance_ ------------------__-__ _
Accident and Health ------_------
Total --------________
Premium tax paid in Canal Zone -_ __ ______


$167,449.98
0.00
$167,449.98
$2,511.75


CITIZENS STANDARD LIFE INSURANCE COMPANY

ORDINARY


Number
Policies in force December 31, 1965 ----_ ----_ 2,070
Policies issued during 1966 --------------_ 718
Total-- ______________-----------_ 2,788
Ceased to be in force during 1966- _- ----------_ 358
Policies in force December 31, 1966-------------- 2,430
Losses and claims:
Unpaid December 31, 1965---------------- 1
Incurred during 1966 -- ---------------- 12
Total --------------------------_ 13
Settled during 1966 --- ------------- 13
Unpaid December 31, 1966 --------------- 0


Amount
$7,858,958.00
3,273,033.00
$11,131,991.00
1,629,442.00
$9,502,549.00

$1,117.00
12,565.53
$13,682.53
13,682.53
$0.00


GRouP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance --------------
Accident and Health --------_--_-
Total ----_--_---------------
Premium tax paid in Canal Zone _ _ -----


$245,431.78
80,268.44
$325,700.22
$4,885.55





EQUITY ANNUITY LIFE INSURANCE COMPANY
ORDINARY Number Amount
Policies in force December 31, 1965 ------------- 8 $8,000.00
Policies issued during 1966- ---------------- 0 0.00
Total __------------------ ------ 8 $8,000.00
Ceased to be in force during 1966--------------- 4 4,000.00
Policies in force December 31, 1966 ------------- 4 $4,000.00
Losses and claims:
Unpaid December 31, 1965 ---------------- 0 $0.00
Incurred during 1966 _-------------- ---- 0 0.00
Total --------------------- 0 $0.00
Settled during 1966 ----------------- ---- 0 0.00
Unpaid December 31, 1966- _--- ---------- 0 $0.00


GROUP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance- ---------- -----------------
Accident and Health-_------------------------
Total -----_ -------------------------
Premium tax paid in Canal Zone -------_-------------


FIDELITY AND GUARANTY LIFE INSURANCE COMPANY
ORDINARY


$2,694.94
0.00
$2,694.94
$40.42


Number
Policies in force December 31, 1965 ------------- 97
Policies issued during 1966- ------------------ 1
Total _- _ _ ----------------- 98
Ceased to be in force during 1966_- ------------ 21*
Policies in force December 31, 1966 ------------- 77
Losses and claims:
Unpaid December 31, 1965 --------------- 0
Incurred during 1966 ------------ --- 0
Total -_______-__ ------___------- 0
Settled during 1966 ------------------ 0
Unpaid December 31, 1966 --------------- 0


Amount
$633,538.00
10,000.00
$643,538.00
170,839.00*
$472,699.00

$0.00
0.00
$0.00
0.00
$0.00


GROUP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance _----------_------------------
Accident and Health ----- -- -----------------
Total- -------------------------------
Premium tax paid in Canal Zone_ _ _ -- -------------
*Adjusted to correct previous year's report.

11


$11,661.59
0.00
$11,661.59
$172.30






THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Number
Policies in force December 31, 1965 --- -----_ 1,586
Policies issued during 1966------ ------------- 84
Total ________________--------____ 1,670
Ceased to be in force during 1966 --------------- 236
Policies in force December 31, 1966 ------------_ 1,434
Losses and claims:
Unpaid December 31, 1965 --------------_ 0
Incurred during 1966 ------- --------- 50


Total______-___-__-________
Settled during 1966 ---- ---------
Unpaid December 31, 1966 ------------


50
50
0


GROUP-None
Net premiums collected in Canal Zone during 1966:
Life Insurance ----------_-- _------
Accident and Health --_--__ ____- __---
Total -------------------------
Premium tax paid in Canal Zone --------------___


Amount
$9,108,235.00
947,004.00
$10,055,239.00
1,008,824.00
$9,046,415.00

$0.00
49,124.42
$49,124.42
49,124.42
$0.00




$251,133.45
10.00
$251,143.45
$3,767.15






LINCOLN NATIONAL LIFE INSURANCE COMPANY
ORDINARY


Number
Policies in force December 31, 1965 ------------- 643
Policies issued during 1966 ---------------- 45
Total_ _ __--- ------------- 688
Ceased to be in force during 1966- ------------(-) 32
Policies in force December 31, 1966 ------ 720
Losses and claims:
Unpaid December 31, 1965 -------------- 0
Incurred during 1966 ---_------------- 6
Total--___________--------------- 6
Settled during 1966--------------------- 6
Unpaid December 31, 1966 -_------------- 0


GROUP
Number
Policies in force December 31, 1965 _---------- 0
Policies issued during 1966---------_------ 0
Total _________-----------------_ 0
Ceased to be in force during 1966_ -------------- 0
Policies in force December 31, 1966 _---_------ 0
Losses and claims:
Unpaid December 31, 1965---------------- 0
Incurred during 1966 -------------- 0
Total __________---___ ---------- 0
Settled during 1966 ------------------ 0
Unpaid December 31, 1966---------------- 0
Net premiums collected in Canal Zone during 1966:
Life Insurance _------------------
Accident and Health ------------------------_
Total --------------------------------
Premium tax paid in Canal Zone _-------------------


Amount
$4,208,232.00
523,838.00
$4,732,070.00
(-) 139,797.00
$4,871,867.00

$0.00
54,720.00
$54,720.00
54,720.00
$0.00


Amount
$47,728.00
0.00
$47,728.00
(-) 3,770.00
$51,498.00

$0.00
0.00
$0.00
0.00
$0.00


$123,836.67
2,237.30
$126,073.97
$1,891.11





NATIONAL WESTERN LIFE INSURANCE COMPANY
ORDINARY


Policies in force December 31, 1965 -------
Policies issued during 1966 _-----------------
Total ______---------------------
Ceased to be in force during 1966 _-------------
Policies in force December 31, 1966 -------
Losses and claims:
Unpaid December 31, 1965----------------
Incurred during 1966 -------------------
Total--------- ------------------
Settled during 1966 -----_--------------
Unpaid December 31, 1966- ---------------


Number Amount
3 $40,000.00
3 34,000.00
6 $74,000.00
2 9,500.00
4 $64,500.00


0
0
0
0
0


$0.00
0.00
$0.00
0.00
$0.00


GROUP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance---------------------------
Accident and Health- ------------------------
Total --------------------------------
Premium tax paid in Canal Zone_ ---------------------


$532.00
0.00
$532.00
$7.98






PAN-AMERICAN LIFE INSURANCE COMPANY
ORDINARY


Number
Policies in force December 31, 1965 ------------- 140
Policies issued during 1966 ------------------ 9
Total__ ____--__--- __ ------------ 149
Ceased to be in force during 1966-- - - - -- 11
Policies in force December 31, 1966- ---------- -- 138
Losses and claims:
Unpaid December 31, 1965- -- ------------ 0
Incurred during 1966- -_--------------- 2
Total _______----_--_--- ---------- 2
Settled during 1966 -- - - ---------- 2
Unpaid December 31, 1966 -- - ----------- 0


Amount
$1,150,660.00
105,000.00
$1,255,660.00
86,252.00
$1,169,408.00

$0.00
13,000.00
$13,000.00
13,000.00
$0.00


GROUP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance ----------------------------
Accident and Health ------------------- -----
Total _-------------------------------
Premium tax paid in Canal Zone-------------------


PENINSULAR LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1966)


THE SERVICE LIFE INSURANCE COMPANY

ORDINARY


$27,415.67
0.00
$27,415.67
$411.24


Policies in force December 31, 1965 --------------
Policies issued during 1966_-------------------
Total ____________--___----
Ceased to be in force during 1966_ ------
Policies in force December 31, 1966 __-- --
Losses and claims:
Unpaid December 31, 1965- --------------
Incurred during 1966 -------------
Total ____________------
Settled during 1966 --------------
Unpaid December 31, 1966 ----- ---


Number
48
3
51
7
44


Amount
$427,608.00
102,653.00
$530,261.00
8,403.00
$521,858.00


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


GROUP-None


Net premiums collected in Canal Zone during 1966:
Life Insurance ______------ -----------------
Accident and Health _------ ----------------
Total ----_ ---------------------------
Premium tax paid in Canal Zone --_-----------------


$5,399.39
0.00
$5,399.39
$80.99





UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY Number
Policies in force December 31, 1965 _---_------- 677 $2
Policies issued during 1966 -_ ----- ------- 59
Total _ _ _---- ---_ _ 736 $(
Ceased to be in force during 1966 -------------- 220
Policies in force December 31, 1966_ ----------- 516 $
Losses and claims:
Unpaid December 31, 1965 -------------- 0
Incurred during 1966_------------- 2
Total __________----------------- 2
Settled during 1966---- ------------ 1
Unpaid December 31, 1966 --------------- 1
GROUP Number
Policies in force December 31, 1965 ------------ 2 $101
Policies issued during 1966_---------------- 1
Total __ _ _ ___-------_ 3 $10
Ceased to be in force during 1966 -------------- 0
Policies in force December 31, 1966_ ------------ 3 $10
Losses and claims:
Unpaid December 31, 1965------- 3
Incurred during 1966 ---------------- 95
Total ________-------------------- 98
Settled during 1966 ----------------- 95
Unpaid December 31, 1966 -------------- 3
Net premiums collected in Canal Zone during 1966:
Life Insurance _------_ ----__
Accident and Health ____ - -- -- ------
Total _---------------------- -
Premium tax paid in Canal Zone ------------- --


UNITED SERVICES LIFE INSURANCE COMPANY
ORDINARY Number
Policies in force December 31, 1965 ------------- 163 $
Policies issued during 1966 -------------- 32
Total--------------_ _____________ 195
Ceased to be in force during 1966 ------------- 46
Policies in force December 31, 1966 _---------- 149
Losses and claims:
Unpaid December 31, 1965- --------------- 0
Incurred during 1966 ---_ ----_--------- 0
Total __________________________- 0
Settled during 1966------------------ 0
Unpaid December 31, 1966 ------------ ---- 0
GROUP-None
Net premiums collected in Canal Zone during 1966:
Life Insurance --- ----- --- ---- __ __
Accident and Health ---------- _
Total-------------------
Premium tax paid in Canal Zone ----- -------------


Amount
2,915,438.00
259,180.00
3,174,618.00
1,336,801.00
1,837,817.00

$0.00
6,000.00
$6,000.00
1,000.00
$5,000.00
Amount
0,525,300.00
1,251,500.00
1,776,800.00
528,500.00
1,248,300.00

$19,000.00
498,500.00
$517,500.00
498,500.00
$19,000.00

$817,241.23
73,110.91
$890,352.14
$13,355.28



Amount
1,501,500.00
350,500.00
1,852,000.00
342,990.00
1,509,010.00

$0.00
0.00
$0.00
0.00
$0.00


$23,920.55
0.00
$23,920.55
$358.81





UNITED STATES LIFE INSURANCE COMPANY

ORDINARY


Number
Policies in force December 31, 1965- ------------- 31
Policies issued during 1966 ------------------- 0
Total ------- -----____---_------_ 31
Ceased to be in force during 1966 -------------- (-) 1
Policies in force December 31, 1966- ------------- 32
Losses and claims:
Unpaid December 31, 1965 --------------- 0
Incurred during 1966 ----------------- 0
Total ______--------------------- 0
Settled during 1966-- --------------- 0
Unpaid December 31, 1966 ---_---------- 0

GROUP
Number
Policies in force December 31, 1965 1---------- 1
Policies issued during 1966_----------------- 0
Total---------------------------- 1
Ceased to be in force during 1966--------------- 0
Policies in force December 31, 1966 _- 1
Losses and claims:
Unpaid December 31, 1965---------------- 0
Incurred during 1966-------------------- 0
Total ___________---------_----- 0
Settled during 1966 ----------------- 0
Unpaid December 31, 1966 -_------------- 0
Net premiums collected in Canal Zone during 1966:
Life Insurance --_-----.------------ ----
Accident and Health_ ------_----------------
Total -------_------------------------
Premium tax paid in Canal Zone- ------------- -----


Amount
$446,135.00
395.00
$446,530.00
(-) 4,017.00
$450,547.00

$0.00
0.00
$0.00
0.00
$0.00


Amount
$179,000.00
0.00
$179,000.00
(-) 21,000.00
$200,000.00

$0.00
0.00
$0.00
0.00
$0.00


$13,316.44
9,117.16
$22,433.60
$336.50


WABASH LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1966)










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
Premiums
$2,197.34
261,896.71
6,632.19
61,987.68
138,680.87
78,276.61
141,537.54
21,416.92
2,553.34
7,477.16
81,679.55
73.00
15,333.95
119,011.86
1,478,004.98
4,149.69
37,189.37
3,706.63
1,781.68
3,827.22
93,046.58
215,985.91
$2,776,446.78
$41,646.83


Losses
Paid
$749.32
114,438.88
1,977.55
23,701.42
30,681.06
52,404.78
48,674.03
5,005.83
0.00
223.15
989.97
0.00
5,643.47
39,791.72
1,104,390.70
595.82
5,240.16
1,304.40
11,016.60
687.47
39,851.30
129,070.25
$1,616,437.88


LIFE INSURANCE COMPANIES

ORDINARY
Number
Policies in force December 31, 1965 --- -------- 8,551
Policies issued during 1966 _----------------- 1,994
Total__--------------------------- 10,545
Ceased to be in force during 1966_ -------------- 1,699
Policies in force December 31, 1966------------- 8,846
Losses and claims:
Unpaid December 31, 1965 ---_ ----------- 1
Incurred during 1966 __ _ _ _-------_ 84
Total__--------------------------- 85
Settled during 1966 _--- --- ----- 80
Unpaid December 31, 1966---------_ ---- 5


Amount
$40,213,621.00
9,696,982.00
$49,910,603.00
8,445,553.00
$41,465,050.00

$1,117.00
147,284.95
$148,401.95
139,901.95
$8,500.00





GROUP


Number Amount


Policies in force December 31, 1965 - - - - 3
Policies issued during 1966 - - --------------- 1
Total -____ ___ -------------- 4
Ceased to be in force during 1966- - - - (-) 1
Policies in force December 31, 1966- -- --------- 5
Losses and claims:
Unpaid December 31, 1965 ----------_------- 3
Incurred during 1966 --------- -------- 95


Total _ -------------_ -- ------ 98
Settled during 1966 ----------------- 95
Unpaid December 31, 1966------- 3
Net premiums collected in Canal Zone during 1966:
Life Insurance- - - - - -_- _
Accident and Health --- ---_- -- _
Total -----------------------
Premium tax paid in Canal Zone ------------


$100,752,028.00
1,251,500.00
$102,003,528.00
247,175.00
$101,756,353.00

$19,246.29
498,500.00
$517,746.29
498,500.00
$19,246.29

$1,861,943.96
178,324.13
$2,040,268.09
$30,601.43


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,
1966:


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
$16,852,111.73
2,022,679.43
57,348.66
10,042,826.00
13,276,978.96"
1,127,255.85
$43,379,200.63


Amount of
damage
by fire
$12,614.95
129.00
2,000.00
9,159.94
26,968.00*
25,008.54
$75,880.43


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 1/z 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.



17737-500








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