• TABLE OF CONTENTS
HIDE
 Front Cover
 Title Page
 Main
 Back Cover






Title: Annual report of insurance business transacted in the Canal Zone, including laws concerning licensing of insurance companies during the calendar year
ALL VOLUMES CITATION PDF VIEWER THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00097362/00009
 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: 1969
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: VID00009
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

Downloads

This item has the following downloads:

PDF ( 1 MBs ) ( PDF )


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
        Page 23
        Page 24
        Page 25
        Page 26
    Back Cover
        Page 27
        Page 28
Full Text



CANAL ZONE GOVERNMENT



ANNUAL REPORT
OF

INSURANCE B

transacted i eC 1970

CANAL Z

DURING THE CALENDAR YEAR

1969


IcMluing Laws Concerning Licensinlg
Of Ins ran eCopne







di,' i






CANAL ZONE GOVERNMENT


ANNUAL REPORT
OF

INSURANCE BUSINESS


transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1969


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/annualreportofinl969cana












CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR


BALBOA HEIGHTS, June 1, 1970.


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 1969.

Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.


The following companies were authorized to transact business in the Canal
Zone during the year 1969:
Aetna Casualty and Surety Company ------- ------- -Hartford, Conn.
American-Amicable Life Insurance Company--------- Birmingham, Ala.
American Capitol Insurance Company __-------- -----Houston, Tex.
American Employers' Insurance Company --__--------Boston, Mass.
American Home Assurance Company-_ ------------- _New York, N.Y.
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.
Beneficial National Life Insurance Company -________- New York, N.Y.
Citizens Standard Life Insurance Company ______-Corpus Christi, Tex.
Colonial Insurance Company of Panama------------ Panama, R. of P.
Commercial Insurance Company_------------------ _Newark, N.J.
Compafia General de Seguros, S.A._--------------Panama, R. of P.
Compafnia 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.

1 Beneficial National Life Insurance Company licensed in the Canal Zone June 23, 1960.






Compaiiia Nacional de Seguros, S.A.________ _Panama, R. of P.
Continental Casualty Company_------ _--_--------- Chicago, Ill.
Continental Insurance Company_ -------------___ New York, N.Y.
Equitable Life Assurance Society of the United States2 -New York, N.Y.
Executive Fund Life Insurance Co.-------------------Omaha, Nebr.
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.
Great American Insurance Company ----------_ New York, N.Y.
Hartford Accident and Indemnity Company -----____ Hartford, Conn.
Insurance Company of North America --------------Philadelphia, Pa.
International Service Insurance Company-___________ Fort Worth, Tex.
Jackson National Life Insurance Company---------- Jackson, Mich.
Liberty Mutual Insurance Company-------------_ B--- oston, 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.
Reliance Insurance Company --------------------- Philadelphia, Pa.
Royal Indemnity Company_---------- ___New York, N.Y.
Seaboard Surety Company _---------------------_New York, N.Y.
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.
World Service Life Insurance Company-----------_ _Forth Worth, Tex.
2 Equitable Life Assurance Society of the United States licensed in the Canal Zone, March
24, 1969.
3 Jackson National Life Insurance Company licensed in the Canal Zone July 1, 1969.













AETNA CASUALTY AND SURETY COMPANY
(No transactions in Canal Zone during 1969)


AMERICAN EMPLOYERS' INSURANCE COMPANY
Net
Premiums
Workmen's compensation--- $1.32
Liability other than auto (B.I.)_ 42.38
Property damage other than auto_ 0.99
Auto Liability (B.I.) 3.96
Auto property damage_ 2.64
Auto physical damage_ 3.63
Total-- ___ $54.92
Premium tax paid in Canal Zone__ $0.82



AMERICAN HOME ASSURANCE COMPANY
(No transactions in Canal Zone during 1969)


AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1969)



COLONIAL INSURANCE COMPANY OF PANAMA
Net
Premiums
Liability other than auto $317.00
Auto liability (B.I.) 49,965.49
Auto property damage----- --_.. __- 29,815.49
Automobile and motor vehicle 17,884.29
Auto comprehensive -- __ 7,267.18
Auto collision- ---- _____ 34,777.93
Fire- -----_--- _------ ____ 718.47
Burglary and theft 170.00
Miscellaneous 10.00
Total ------_ _____$140,925.85
Premium tax paid in Canal Zone -- -----------$2,113.89


Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
$0.00


Losses
Paid
$81.70
1,252.30
20,128.46
4,079.37
2,950.26
12,939.65
0.00
0.00
0.00
$41,431.74






COMMERCIAL INSURANCE COMPANY
Net Losses
Premiums Paid
Automobile and motor vehicle -------------- $237.00 $226.50
Workmen's compensation---------------- 80,824.80 44,768.80
Miscellaneous------------------------- 19,507.73 3,430.98
Total--------- -- ------------ $100,569.53 $48,426.28
Premium tax paid in Canal Zone------------- $1,508.54

COMPARIA GENERAL DE SEGUROS, S.A.
Net Losses
Premiums Paid
Fire --------------- ---------- $50.00 $0.00
Surety---------------------------- 2,798.24 0.00
Liability other than auto___ -- ---_-___- 282.57 0.00
Workmen's compensation_ ----------------- 17,363.77 2,852.17
Auto comprehensive ------------------- 220.44 0.00
Auto liability (B.I.) __------ --------------- 447.55 0.00
Auto collision-_ -----------_ ------ 497.67 0.00
Auto property damage ____----------------327.64 0.00
Extended coverage _____---------------82.69 0.00
Hospital and medical-__ ---------------- 55.45 0.00
Total -____________ $22,126.02 $2,852.17
Premium tax paid in Canal Zone-----________ $331.89

COMPANIA INTERAMERICANA DE SEGUROS, S.A.
Net Losses
Premiums Paid
Auto liability (B.I.)__________ $45.81 $0.00
Workmen's compensation___ ---------------- 5,605.04 3,572.00
Fire ------------------------------- 5,859.15 0.00
Automobile_____ --------------------- 46,341.50 6,244.21
Total- ------------------- $57,851.50 $9,816.21
Premium tax paid in Canal Zone_-_--------- $867.77

COMPANIA INTERNATIONAL DE SECUROS, S.A.
Net Losses
Premiums Paid
Miscellaneous --___- __-__ $3,306.36 $0.00
Total ------------------------ $3,306.36 $0.00
Premium tax paid in Canal Zone -------------_ $49.60

COMPARIA ISTMENA DE SEGUROS, S.A.
(No transactions in Canal Zone during 1969)

COMPANIA NATIONAL DE SEGUROS, S.A.
Net Losses
Premiums Paid
Workmen's compensation -----------____ $52,511.58 $0.00"
Total ---------------------------_ $52.511.58 $0.00
Premium tax paid in Canal Zone -------_----- $787.67
*Complete information unavailable.






CONTINENTAL CASUALTY COMPANY
Net
Premiums
Accident and health-- ----------------- $1,444.93
Group accident and heakh ------------------ 2,458.31
Inland marine_-----_ _------------- 7.70
Auto liability (B.I.) _-------------------- (Cr.) 81.57
Auto property damage ----------------__- 2.60
Auto physical damage -------_-_-_ 66.16
Total --______---------------- $3,898.13
Premium tax paid in Canal Zone------------- $58.47


CONTINENTAL INSURANCE COMPANY
Net
Premiums
Fire __ --------------$1UU.00
Auto liability (B.I.)_------ _---_-------(Cr.) 2,117.00
Auto property damage-------_ (Cr.) 708.00
Auto physical damage------_-------- (Cr.) 1,496.00
Surety------------ -----------------_ 100.00
Miscellaneous ------------------------- 0.00
Total ------------------------(Cr.) $4,121.00
Premium tax paid in Canal Zone -------------- $0.00

FIDELITY AND CASUALTY COMPANY OF NEW YORK
Net
Premiums
Surety_------ ----- _-_____ $20.00
Miscellaneous _____-------__--------- 80.00
Workmen's compensation ------- ----------- 0.00
Total--------------_ ---------_ $100.00
Premium tax paid in Canal Zone- _------_ $1.50

FIDELITY AND DEPOSIT COMPANY OF MARYLAND
Net
Premiums
Fidelity ---- --------------------- $419.00
Surety -_____________________________ 6,135.00
Total -------------------------- $6,554.00
Premium tax paid in Canal Zone ------------- $98.31

FIREMEN'S INSURANCE COMPANY OF NEWARK
Net
Premiums
Fire_-- -- --- _--------------------_ $74,063.91 $
Automobile and motor vehicle----------_---- 259,948.35
Miscellaneous --_ ___------------------15,569.19
Workmen's compensation --_ ___-----------8,182.31
Total -------------------------- $357,763.76 $1
Premium tax paid in Canal Zone------------- $5,366.46


Losses
Paid
$o00.00
3,984.37
30.00
0.00
528.75
424.08
$5,777.20



Losses
Paid
$0.00
0.00
0.00
0.00
0.00
19.72
$19.72



Losses
Paid
$0.00
0.00
123.33
$123.33



Losses
Paid
$0.00
0.00
$0.00



Losses
Paid
38,342.30
91,351.30
2,154.48
12,529.00
44,377.08







GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1969)

GREAT AMERICAN INSURANCE COMPANY
(No transactions in Canal Zone during 1969)

HARTFORD ACCIDENT AND IDEMNITY COMPANY
Net Losses
Premiums Paid
Fire---------------- -- $505.00 $0.00
Workmen's compensation-----------. ----- 562.00 0.00
Liability other than auto (B.I.) ------------- 338.00 1,500.00
Property damage other than auto------------- 19.00 0.00
Extended Coverage----------- 146.00 0.00
Auto property damage ----------------- 0.00 18.19
Auto physical damage ----------------- (Cr.) 159.00 0.00
Surety _- -------------------- 33.00 0.00
Total ------------ ------------ $1,444.00 $1,518.19
Premium tax paid in Canal Zone _-- --_------ $21.66

INSURANCE COMPANY OF NORTH AMERICA
Net Losses
Premiums Paid
Ocean marine ------------ ------ $1,717.00 $0.00
Surety ------------------------------ (Cr.) 331.00 0.00
Total--_-__-------- ------------ $1,386.00 $0.00
Premium tax paid in Canal Zone ------------- $20.79

INTERNATIONAL SERVICE INSURANCE COMPANY
Net Losses
Premiums Paid
Auto liability (B.I.)--------------------- $9,255.90 $590.25
Auto property damage------------ ------- 4,960.10 6,743.36
Auto physical damage-------------------- 29,009.02 17,986.99
Total ---------- ------------ $43,225.02 $25,320.60
Premium tax paid in Canal Zone------------- $648.38
THE LIBERTY MUTUAL INSURANCE COMPANY
Net Losses
Premiums Paid
Health and accident---- ---------------- $86.00 $0.00
Liability other than auto (B.I.)--------------- 165.00 0.00
Property damage other than auto------------- 96.00 0.00
Total------------ ------------- $347.00 $0.00
Premium tax paid in Canal Zone------------- $5.21






MARYLAND CASUALTY COMPANY
Net Losses
Premiums Paid
Accident and health __. __ $1,741.71 $2,067.93
Group accident and health-__--_------ ---- 2,313.13 341.25
Auto liability (B.I.)--------------------- 38,113.90 10,067.02
Liability other than auto (B.I.)_----- _- 6,370.73 44.00
Fidelity_--------- ------------------ 2,422.00 2,864.35
Surety -------- ---------------- 47,766.50 47.75
Glass-------------- ---------------- 35.00 0.00
Burglary and theft--------------------- 5.641.00 13,697.47
Auto property damage ------- 19,376.70 42,602.55
Inland marine------------------------- 5,228.00 1,340.00
Property damage other than auto------------- 2,400.69 0.00
Workmen's compensation_-_----------- 46,440.78 54,891.12
Auto physical damage__ ----------------- 55,800.87 25,115.23
Fire----____----------_--------- 4,255.00 12,000.00
Extended coverage -- ------------------- 198.00 0.00
Miscellaneous- --------------------- 247.00 0.00
Total--_ _____ $238,351.01 $165,078.67
Premium tax paid in Canal Zone_ ---- --_ $3,575.27

MUTUAL OF OMAHA INSURANCE COMPANY
Net Losses
Premiums Paid
Group accident and health __--------------- 617,197.39 $43,269.94
Individual and health--------------------_ 2,646,313.37 2,089,170.73
Total-----------------_------_ $2,663,510.76 $2,132,460.67
Premium tax paid in Canal Zone_ ----------- $39,952.66

NATIONAL SURETY CORPORATION
(No transactions in Canal Zone during 1969)
NATIONAL UNION FIRE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)
PANAMA INSURANCE COMPANY
Net Losses
Premiums Paid
Fire----- ---------------- $1,743.12 $0.00
Workmen's compensation --__--_------- 115,007.19 37,364.03
Liability other than auto -_ ----__- _- 18,760.65 2,661.61
Surety- ------_ -- -__ 28,816.69 80,474.66
Automobile ----_ -___-_____- 3,380.92 12,385.45
Miscellaneous_ ----------- 3,177.80 4,041.27
Total__---_------- --_--- $170,886.37 $136,927.02
Premium tax paid in Canal Zone -----------_ $2,563.30

RELIANCE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)







ROYAL INDEMNITY COMPANY


Auto physical damage- - - - ----
Liability other than auto (B.I.)-------------
Auto liability (B.I.) __- -------
Auto property damage --- --------
Surety- ----------------------------
Total __-__--------------------
Premium tax paid in Canal Zone-------------


Net Losses
Premiums Paid
$165.83 $0.00
65.08 0.00
126.89 0.00
98.76 0.00
0.00 (Cr.) 53,441.05
$456.56 (Cr.) $53,441.05
$6.85


SEABOARD SURETY COMPANY
(No transactions in Canal Zone during 1969)

TRANSAMERICA INSURANCE COMPANY
(No transactions in Canal Zone during 1969)

TRAVELERS INDEMNITY COMPANY
Net
Premiums
Surety------------------------------- $135.00
Liability other than auto (B.I.) ------------- 293.00
Property damage than auto--- _----_-- -- -- 6.00
Total-- ---------- ------------- $434.00
Premium tax paid in Canal Zone------------- $6.51

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---- _----------------------
Burglary and theft---------------------
Miscellaneous_ __------- -------------


Net
Premiums
$48.00
55,016.00
3,147.00
200.00
50.00
18,811.44
4,808.00
54,990.00
32,624.00
35,483.00
1,754.00
6,089.00
937.50 (Cr
4,062.00
613.00


Glass------------- ---------------- (Cr.) 130.90
Total -------------------------- $218,502.04
Premium tax paid in Canal Zone--_---------- $3,277.53


4







3
1


.)




$10


Losses
Paid
$0.00
0.00
0.00
$0.00




Losses
Paid
i0.00
1,435.65
0.00
0.00
0.00
7,838.71
2,739.00
2,905.42
3,276.46
3,446.05
501.95
1,000.00
2,904.57
6,928.67
0.00
0.00
7,167.34






AMERICAN-AMICABLE LIFE INSURANCE COMPANY
ORDINARY
Number Amount
Policies in force December 31, 1968-------------. 16 $113,702.00
Policies issued during 1969--------_ --- ---- 0 0.00
Total ___-_--------- ------------- 16 $113,702.00
Ceased to be in force during 1969-------------- 2 6,000.00
Policies in force December 31, 1969 ----_--_-__- 14 $107,702.00
Losses and claims:
Unpaid December 31, 1968--------------- 0 $0.00
Incurred during 1969 ---- ----------- 1 14,761.00
Total________-____----__-_----- 1 $14,761.00
Settled during 1969_ _---_ ---------- 1 14,761.00
Unpaid December 31, 1969_ -_------------- 0 $0.00
GROUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance --------------------------- $2,389.45
Accident and Health ---------.--------------- 0.00
Total--------------------------------- $2,389.45
Premium tax paid in Canal Zone _--_-_-_---_- ------$35.84


AMERICAN CAPITOL INSURANCE COMPANY


ORDINARY
Policies in force December 31, 1968-------------
Policies issued during 1969 ____________
Total -------- ____---- ---
Ceased to be in force during 1969--__ ----
Policies in force December 31, 1969_______
Losses and claims:
Unpaid December 31, 1968--------------
Incurred during 1969-- __-- _
Total -______--- _________
Settled during 1969- -__-_____
Unpaid December 31, 1969_ -------


Number
1,074
700
1,774
633
1,141

0
5
5
5
0


GRouP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance _________________
Accident and Health_______ ______
Total_ --------------________
Premium tax paid in Canal Zone___________________


Amount
$4,808,053.00
5,485,838.00
$10,293,891.00
4,126,855.00
$6,167,036.00

$0.00
11,021.32
$11,021.32
11,021.32
$0.00



$160,145.82
9,623.10
$169,768.92
$2,546.53







AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK
ORDINARY-None


GRouP
Number
Policies in force December 31, 1968------------- 1
Policies issued during 1969_ _-__------------- 0
Total_ ----- ---------------------- 1
Ceased to be in force during 1969-------------- 0
Policies in force December 31, 1969__ 1-------- 1
Losses and claims:
Unpaid December 31, 1968--------------- 0
Incurred during 1969---------------- 0
Total ______---- ----------------- 0
Settled during 1969---------- --- ---- 0
Unpaid December 31, 1969--_------------- 0
Net premiums collected in Canal Zone during 1969:
Life Insurance ----------------------------
Accident and Health -------------------------
Total----------------------------------
Premium tax paid in Canal Zone________-- -----


BANKERS LIFE INSURANCE COMPANY OF AMERICA


Policies in force December 31, 1968 ______
Policies issued during 1969- _- -----
Total __________------------ -
Ceased to be in force during 1969
Policies in force December 31, 1969 ___- __-
Losses and claims:
Unpaid December 31, 1968-- ----------
Incurred during 1969 __--
Total ____________---------------
Settled during 1969 -___------
Unpaid December 31, 1969- ________


Number
1,105
0
1,105
91
1,014

1
4
5
3
2


GRouP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance---------------__ _-----------
Accident and Health_____________
Total _____________ __
Premium tax paid in Canal Zone .------------- ..


Amount
$333,3u2.00
18,298.00
$351,600.00
0.00
$351,600.00

$597.28
0.00
$597.28
597.28
$0.00

$6,245.86
0.00
$6,245.86
$93.69


Amount
$4,399,404.00
0.00
$4,399,404.00
362,894.00
$4,036,510.00

$2,500.00
12,750.00
$15,250.00
2,750.00
$12,500.00



$132,383.74
0.00
$132,383.74
$1,985.75






BENEFICIAL NATIONAL LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)

CITIZENS STANDARD LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1968 -- ----
Policies issued during 1969___


Number
1,734
25


Total _---------- ------ ----------- 1,759
Ceased to be in force during 1969_ ----- 112
Policies in force December 31, 1969 1,647
Losses and claims:
Unpaid December 31, 1968---------______ 0
Incurred during 1969 _- ___. ___ 5
Total --------------------------- 5
Settled during 1969 -___ -- 5


Unpaid December 31, 1969 -___
GROUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance- _______ -____________
Accident and Health -_-------______
Total ____________
Premium tax paid in Canal Zone________


0


Amount
$6,177,10.00
1,281,107.00
$7,458,287.00
1,562,143.00
$5,896,144.00


$0.00
13,980.00
$13,980.00
13,980.00
$0.00



$176,384.41
64,547.40
$240,931.81
$3,613.97


EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
ORDINARY-Non eO
GROUP


Policies in force December 31, 1968- _-_ __- _
Policies issued during 1969 -
Total-------
Ceased to be in force during 1969 ---_
Policies in force December 31, 1969
Losses and claims:
Unpaid December 31, 1968 ---
Incurred during 1969_
Total _- -
Settled during 1969 _.
Unpaid December 31, 1969 -_________
Net premiums collected in Canal Zone during 1969:
Life Insurance-
Accident and Health
Total -_
Premium tax paid in Canal Zone_ -
Figures not available.


Number
0
0
0
-- O 0
0
0


Amount
$0.00
NA*
$0.00
NA
$0.00


0 $0.00
NA 403,656.50
S 0 $403,656.50
NA 403,656.50
0 $0.00

--- $31,501.95
3,203.57
$34,705.52
$520.58






EXECUTIVE FUND LIFE INSURANCE COMPANY
ORDINARY-None
GRoUP-None
Net premiums collected in Canal Zone during 1989:
Life Insurance -_____---------- $0.00
Accident and Health -- _....__ ____ 581.10
Total ------------------------------ $581.10
Premium tax paid in Canal Zone _---- ----------------- $8.72

FIDELITY AND GUARANTY LIFE INSURANCE COMPANY


ORDINARY
Number
Policies in force December 31, 1968_ -_--------- 61
Policies issued during 1969 ------ --------- 11
Total_ ----------- ----------- 72
Ceased to be in force during 1969 -.---. .. ----- 12
Policies in force December 31, 1969 ---------- 60
Losses and claims:
Unpaid December 31, 1968-------------- 0
Incurred during 1969------------- 0
Total---------------------------- 0
Settled during 1969_------------------- 0
Unpaid December 31, 1969 ---------------- 0
GROUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance-----------------------------
Accident and Health ------------------------
Total --------------------------------
Premium tax paid in Canal Zone -------------------


Amount
$323,088.00
432,120.00
$755,208.00
432,197.00
$323,011.00

$0.00
0.00
$0.00
0.00
$0.00



$7,640.91
0.00
$7,640.91
$114.61






THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Policies in force December 31, 1968 --- ---
Policies issued during 1969 -_-__--_ ___
Total --_ _- __--- _- __
Ceased to be in force during 1969 -. ____.. .
Policies in force December 31, 1969 ------
Losses and claims:
Unpaid December 31, 1968-_______
Incurred during 1969 ------ ...------_---
Total ________-------
Settled during 1969 _
Unpaid December 31, 1969- ---_ -- -


Number
1,248
71
1,319
120
1,199

0
22
22
22
n


GROUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance _____ _______
Accident and Health _---___-________
Total_------------- --_---_---_-__
Premium tax paid in Canal Zone-______________ ___


Amount
$8,891,631.00
791,059.00
$9,682,690.00
760,950.00
$8,921,740.00

$0.00
36,583.10
$36,583.10
36,583.10
$0.00




$228,084.06
10.00
$228,094.06
$3,421.41


JACKSON NATIONAL LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)


V






LINCOLN NATIONAL LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1968 ______
Policies issued during 1969 --___- --
Total -_ ----- ----__
Ceased to be in force during 1969 ____---
Policies in force December 31, 1969 -__-__
Losses and claims:
Unpaid December 31, 1968 _______
Incurred during 1969 -
Total -----------------------
Settled during 1969_ __________
Unpaid December 31, 1969 _


GROUP


Policies in force December 31, 1968___-----
Policies issued during 1969 _______-_ __
Total-------------- ------------
Ceased to be in force during 1969_-_ ----
Policies in force December 31, 1969 ____-_--
Losses and claims:
Unpaid December 31, 1968--------
Incurred during 1969 -- ____--_
Total- --------------------------
Settled during 1969 ---- ------
Unpaid December 31, 1969 _--_ ----
Net premiums collected in Canal Zone during 1969:
Life Insurance--------- ----------


Accident and Health ___________________ __--
Total ------_---_-___-__-_
Premium tax paid in Canal Zone----------


0 $44,507.00
0 0.00
0 $44,507.00
0 2,159.00
0 $42,348.00

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

$97,362.14
1,379.63
$98,741.77
$1,481.13


Number
621
1
622
48
574

2
8
10
9
1


Amount
$4,137,759.00
1,500.00
$4,139,259.00
371,146.00
$3,768,113.00

$97,149.00
31,500.00
$128,649.00
118,649.00
$10,000.00






NATIONAL WESTERN LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1968 ------
Policies issued during 1969- -
Total ___------------- -----------
Ceased to be in force during 1969-
Policies in force December 31, 1969 _..-- - --
Losses and claims:
Unpaid December 31, 1968---------------
Incurred during 1969- -
Total_______ ------------- ------
Settled during 1969_ __________
Unpaid December 31, 1969 _____ ___


Number
8
10
18
2
16

0
0
0
0
0


GROUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance- _____--- --------_ -----__
Accident and Health------- --- _
Total --------------------
Premium tax paid in Canal Zone--------- _

PAN-AMERICAN LIFE INSURANCE COMPANY


ORDINARY
Number
Policies in force December 31, 1968- ---- 110
Policies issued during 1969_--_ ---- 7
Total ----------------------- 117
Ceased to be in force during 1969-______ 6
Policies in force December 31, 1969_ _-.._ 111
Losses and claims:
Unpaid December 31, 1968------_------ 0
Incurred during 1969-- _- --__ 0
Total ___________________________ 0
Settled during 1969_ --_ ----_ ---------- 0
Unpaid December 31, 1969- ------------- 0

GRnoU-None
Net premiums collected in Canal Zone during 1969:
Life Insurance--------------------------
Accident and Health-------__-_-_
Total ---------____ ________
Premium tax paid in Canal Zone-----------__


Amount
$81,219.00
45,047.00
$126,266.00
20,523.00
$105,743.00

$0.00
0.00
$0.00
0.00
$0.00



$1,929.18
0.00
$1,929.18
$28.94


Amount
$1,073,3u5.00
65,000.00
$1,138,305.00
20,629.00
$1,117,676.00

$0.00
0.00
$0.00
0.00
$0.00



$36,197.09
0.00
$36,197.09
$542.96






PENINSULAR LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)

UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY


Number
Policies in force December 31, 1968- ----------- 523
Policies issued during 1969------------------ 54
Total _--------- -------------- 577
Ceased to be in force during 1969 ------------ 39
Policies in force December 31, 1969------------ 538
Losses and claims:
Unpaid December 31, 1968--------------- 0
Incurred during 1969 --------------- 3
Total_---------------- ----- 3
Settled during 1969_---------- 1
Unpaid December 31, 1969--------------- 2
GROUP
Policies in force December 31, 1968----_------- 3
Policies issued during 1969----- ---_------ 0
Total-_-------- ----------------- 3
Ceased to be in force during 1969- ------------ 1
Policies in force December 31, 1969_-------- -- 2
Losses and claims:
Unpaid December 31, 1968----------- 0
Incurred during 1969-- ------ __--- --- 86
Total _ ___-___-_------------ 86
Settled during 1969 _ __-------------- 83
Unpaid December 31, 1969 ------ 3
Net premiums collected in Canal Zone during 1969:
Life Insurance -----------------------------
Accident and Health----_ --------------- -----
Total _______________-----------------
Premium tax paid in Canal Zone --------------------


Amount
$2,660,2-3.00
586,639.00
$3,266,922.00
264,808.00
$3,002,114.00

$0.00
25,000.00
$25,000.00
10,000.00
$15,000.00


$112,553,960.00
0.00
$112,553,960.00
298,410.00
$112,255,550.00

$0.00
416,750.00
$416,750.00
407,750.00
$9,000.00

$752,027.67
11,703.57
$763,731.24
$11,455.96






UNITED SERVICES LIFE INSURANCE COMPANY
ORDINARY
Number Amount
Policies in force December 31, 1968 ------------ 323 $3,814,525.00
Policies issued during 1969---------------_ -- 179 2,129,768.00
Total--------------------- ------ 502 $5,944,293.00
Ceased to be in force during 1969 ------------- 238 2,771,783.00
Policies in force December 31, 1969 -----------_ 264 $3,172,510.00
Losses and claims:
Unpaid December 31, 1968--------------- 0 $0.00
Incurred during 1969 ----------- __-- __ 1 1,500.00
Total_- -----------_____________ __ 1 $1,500.00
Settled during 1969 ----------_ 1 1,500.00
Unpaid December 31, 1969_ -----_ --_-----_ 0 $0.00
GROUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance-- - ----------------__------_ $65,629.42
Accident and Health --- -_ ------------------ 0.00
Total_ -------------_ ----------------_ $65,629.42
Premium tax paid in Canal Zone- --------------- --_ $984.44


UNITED STATES LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1968--------_-
Policies issued during 1969 -----_______
Total- ------------_----------__
Ceased to be in force during 1969 ___- __
Policies in force December 31, 1969 -__- ___
Losses and claims:
Unpaid December 31, 1968---------
Incurred during 1969 -- _______
Total ___________________________
Settled during 1969_ ____________________
Unpaid December 31, 1969 --------


Number
23
0
23
1
22

0
3
3
2
1


Amount
$368,869.00
23.00
$368,892.00
18,275.00
$350.617.00

$0.00
32,840.00
$32,840.00
27,840.00
$5,000.00






GROUP

Policies in force December 31, 1968------------
Policies issued during 1969---------------
Total----------------------------
Ceased to be in force during 1969---. --
Policies in force December 31, 1969 -----
Losses and claims:
Unpaid December 31, 1968---------------
Incurred during 1969--- ----- ----
Total----------------------------
Settled during 1969_ ___ -----
Unpaid December 31, 1969 -_-------
Net premiums collected in Canal Zone during 1969:
Life Insurance--------_ ----------------
Accident and Health ___------- --------
Total ___ ------------
Premium tax paid in Canal Zone---------------


1 $197,000.00
0 0.00
1 $197,000.00
0 (-) 35,000.00
1 $232,000.00

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

$9,386.36
S 8,535.59
$17,921.95
$268.83


WABASH LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)

WORLD SERVICE LIFE INSURANCE COMPANY


Policies in force December 31, 1968 ------------
Policies issued during 1969 -. --
Total ____- -----------------------
Ceased to be in force during 1969 -._- ...
Policies in force December 31, 1969-
Losses and claims:
Unpaid December 31, 1968---------------
Incurred during 1969 -
Total ---------------------------
Settled during 1969_ -. _ _
Unpaid December 31, 1969 .. - ~. ---. -
GRouP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance_-------- --------------
Accident and Health--------------------
Total-------------__ _------------
Premium tax paid in Canal Zone---------------


Number Amount
49 $456,326.00
2 17,500.00
51 $473,826.00
11 107,612.00
40 $366,214.00

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



$6,956.24
0.00
$6,956.24
$104.34






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 (includes
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__-- ____


LIFE INSURANCE COMPANIES

ORDINARY


Policies in force December 31, 1968 --____
Policies issued during 1969 _________
Total__________________________
Ceased to be in force during 1969 ________
Policies in force December 31, 1969 ___-
Losses and claims:
Unpaid December 31, 1968-_________
Incurred during 1969 -_____- ____
Total-.. _------__________
Settled during 1969 ------------_---- -_
Unpaid December 31, 1969 ____ __ _ _


Number
6,895
1,060
7,955
1,315
6,640

3
52
55
49
6


Amount
$37,325,344.00
10,835,601.00
$48,160,945.00
10,825,815.00
$37,335,130.00

$99,649.00
179,935.42
$279,584.42
237,084.42
$42,500.00


Net
Premiums
$50.00
327,792.06
7,487.62
90,291.60
150,750.93
86,499.93
118,873.51
9,873.00
474.69
8,930.00
90,441.65
(Cr.) 95.90
21,968.83

2,649,641.46
5,435.70
31,442.41
42,511.08
1,717.00
4,276.68
86,410.93
345,310.23
$4,080,083.41
$61,263.08


Losses
Paid
$0.00
114,286.83
2,950.26
54,375.30
14,814.99
103,297.77
56,972.35
20,626.14
0.00
3,864.35
50,342.30
0.00
47,615.56

2,092,048.66
1,370.00
7,026.31
9,646.45
0.00
501.95
24,176.79
163,939.16
$2,767,855.17






GROUP


Policies in force December 31, 1968--------
Policies issued during 1969 ---------------
Total _______________------------
Ceased to be in force during 1969__ ___- _
Policies in force December 31, 1969 _____
Losses and claims:
Unpaid December 31, 1968 -------
Incurred during 1969 ____ _

Total--------------------------
Settled during 1969 -_---- _
Unpaid December 31, 1969_ _ --_ --
Net premiums collected in Canal Zone during 1969;


Number Amount
5 $113,128,769.00
0 18,298.00
5 $113,147,067.00
1 265,569.00
4 $112,881,498.00


0
86

86
83
3


Life Insurance ------ --_________
Accident and Health_______ ._____
Total -----------_ _____
Premium tax paid in Canal Zone - ______


$597.28
820,406.50

$821,003.78
812,003.78
$9,000.00


$1,714,264.30
99,583.96
$1,813,848.26
$27,207.70


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, 1969.


Value of
property
involved
Panama Canal Company- --------------- $14,794,360.27
Canal Zone Government- _--------------- 4,115,991.87
Other U.S. Government ----------------- 101,320.00
U.S. Armed Forces-------------_---_- 10,214,645.62
Ships in Canal waters ------------------ 39,216,000.00*
Private property other than above----------- 2,385,497.01
Total ___---------------------- $70,627,814.77
SComplete figures unavailable.


Amount of
damage
by fire
$8,824.07
59.00
50.00
213,447.99
15,330.00"
22,242.23
$259,953.29


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 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.












































31805-550











3 1262 04ii 728 2891,,, l
3 1262' 04728 2891




~1




University of Florida Home Page
© 2004 - 2010 University of Florida George A. Smathers Libraries.
All rights reserved.

Acceptable Use, Copyright, and Disclaimer Statement
Last updated October 10, 2010 - - mvs