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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: 1974
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: VID00013
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
    Letter of transmittal
        Page 1
        Page 2
        Page 3
        Page 4
    Main
        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
        Page 27
        Page 28
        Page 29
        Page 30
    Back Cover
        Page 31
        Page 32
Full Text




CANAL ZONE GOVERNMENTT,,'' --

AN'N'UA RE'.
, ... .


ANNUAL REPOR^^^,I
-'^^'^ /


OF

INSURANCE BUSINESS

transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1974


Including Laws Concerning Licensing


Of Insurance Companies


/






CANAL ZONE GOVERNMENT


ANNUAL REPORT
OF

INSURANCE BUSINESS


transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1974


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/annualreportofin1974cana











CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR
BALBOA HEIGHTS, May 1, 1975.
GOVERNOR OF THE CANAL ZONE,
Balboa Heights, C.Z.
Sin: There is submitted herewith a report of insurance business
transacted in the Canal Zone during the calendar year 1974.
Respectfully,
J. PATRICK CONLEY,
Executive Secretary.


The following companies were authorized to transact business in the
Canal Zone during the year 1974.
Aetna Casualty and Surety Company------ Hartford, Conn.
American-Amicable Life Insurance Company -Birmingham, Ala.
American Capitol Insurance Company --_----Houston, Tex.
American Continental Life Insurance ---------- Phoenix, Ariz.
American Defender Life Insurance Company ----- Raleigh, N.C.
American Employers' Insurance Company ---- Boston, Mass.
American Fidelity Life Insurance Company' .._ Pensacola, Fla.
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.
American Re-Insurance Company2 _. __ New York, N.Y.
Atlantic Southern Insurance Co. of Puerto Rico- San Juan, P.R.
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.
lAmerican Fidelity Life Insurance Company licensed in the Canal Zone October 25, 1974.
2American Re-Insurance Company licensed in the Canal Zone July 3, 1974.






Compaiiia General de Seguros, S.A.
Compafiia Interamericana de Seguros, S.A.
Compafiia Internacional de Seguros, S.A.
Compaiiia Istmefia de Seguros, S.A.3 ...
Compafifa Nacional de Seguros, S.A. -.
Continental Casualty Company
Continental Insurance Company-- _- _
Executive Fund Life Insurance Co. -----
Fidelity and Casualty Company of New York ----
Fidelity and Deposit Company
Fidelity and Guaranty Life Insurance Company--
General Insurance Company of America
Gibraltar Life Insurance Company of America
Great American Insurance Company
Hartford Accident and Indemnity Company
Insurance Company of North America
International Service Insurance Company -------
Investors Life Insurance Company of Nebraska4
Jackson National Life Insurance Company
Lafayette Life Insurance Company5
Liberty Mutual Insurance Company
Lincoln National Life Insurance Company
Maryland Casualty Company
Mutual of Omaha Insurance Company
National Surety Corporation -
National Union Fire Insurance Company
Panama Insurance Company, Inc.
Pan-American Life Insurance Company
Peninsular Life Insurance Company _____._
Reliance Insurance Company- ---
Royal Indemnity Company
Seabord Surety Company
Transamerica Insurance Company


____Panama, R. of P.
Panama, R. of P.
Panama, R. of P.
Panama, R. of P.
Panama, R. of P.
Chicago, I11.
.-New York, N.Y.
Omaha, Nebr.
New York, N.Y.
Baltimore, Md.
.-..Baltimore, Md.
Seattle, Wash.
Dallas, Tex.
New York, N.Y.
Hartford, Conn.
Philadelphia, Pa.
__Fort Worth, Tex.
-Watertown, S. Dak.
-. Jackson, Mich.
____ Lafayette, Ind.
Boston, Mass.
Fort Wayne, Ind.
Baltimore, Md.
Omaha, Nebr.
Chicago, Ill.
Pittsburgh, Pa.
Panama, R. of P.
New Orleans, La.
Jacksonville, Fla.
Philadelphia, Pa.
New York, N.Y.
New York, N.Y.
Los Angeles, Calif.






Travelers Indemnity Company ------------------ Hartford, Conn.
United Benefit Life Insurance Company -------------Omaha, Nebr.
United Services General Life Company6 ____ Washington, D.C.
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 ----------Fort Worth, Tex.

3 Compafnia Istmefia de Seguros, S.A.. discontinued doing business in the Canal Zone effective
December 31, 1973.
4 Investors Life Insurance Company of Nebraska licensed in the Canal Zone December 10,
1974.
5 The Lafayette Life Insurance Company licensed in the Canal Zone November 6, 1974.
6 United Services General Life Company licensed in the Canal Zone August 26, 1974.












AETNA CASUALTY AND SURETY COMPANY
(No transactions in Canal Zone during 1974)


AMERICAN EMPLOYERS' INSURANCE COMPANY
(No transactions in Canal Zone during 1974)


AMERICAN HOME ASSURANCE COMPANY
Net
Premiums
Fire --------------------- $49,397.53
Motor Vehicle --------- ------ 376,253.44
Workmen's compensation ---------- 217,783.79
Liability other than auto -- -------- 146,713.15
Total-- ---------- $790,147.91
Premium tax paid in Canal Zone ------------------- $11,852.22


AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1974)


AMERICAN RE-INSURANCE COMPANY
(No transactions in Canal Zone during 1974)


COLONIAL INSURANCE COMPANY OF PANAMA


Liability other than auto (B.I.) - -
Auto liability (B.I.) ---------------
Auto property damage-----------
Automobile and motor vehicle ----------
Auto comprehensive- ----------- --
Auto collision------------------
Fire ..- --.-- ------- -- -------- -
Burglary and theft -- ---------
Miscellaneous- ------------- ---- --
Surety------- ---- ---- -
Total ------------------
Premium tax paid in Canal Zone -


Net
Premiums
$786.90
46,696.23
27,799.73
14,383.71
5,805.65
34,593.43
1,623.58
785.43
417.20
125.00
$133,016.86
$1,995.25


Losses
Paid
$695.69
185,838.91
61,409.02
23,820.42
$271,764.04


Losses
Paid
$0.00
4,259.36
18,978.73
2,538.70
2,467.37
18,162.25
0.00
0.00
0.00
0.00
$46,406.41






COMPARIA GENERAL DE SEGUROS, S.A.
Net
Premiums
Miscellaneous* $4,920.55
Total _ $4,920.55


Premium tax paid in Canal Zone ----.


Losses
Paid
$0.00
$0.00


$73.81


COMPARIA INTERAMERICANA DE SEGUROS, S.A.


Theft __-__-_------
Automobile- -----
Fire ..- -.. ___
Surety . -------.-
Workmen's compensation -------
Total .. - -.
Premium taxpaid in Canal Zone -----


Net
Premiums
$16.04
248.59
1,168.05
415.40
43.41
$1,891.49
$28.37


COMPANIA INTERNATIONAL DE SEGUROS, S.A.
Net
Prenmiumss s
_ $1,475.00
--______-- ---- 5,075.00
.. ._ 2,713.00
.. $9,263.00
paid in Canal Zone $138.95



COMPARIA NATIONAL DE SEGUROS, S.A.
(No transactions in Canal Zone during 1974)


Losses
Paid
$0.00
0.00
0.00
0.00
0.00
$0.00






Losses
Paid
$0.00
0.00
0.00
$0.00


Group accident and
Health and accident
Liability other than
Total _


CONTINENTAL CASUALTY COMPANY
Net
Premiums
health $6,233.00
t- 361.00
auto 578.00
-.- - __ $7,172.00


Premium tax paid in Canal Zone .-.-

(Breakdown by types of insurance unavailable.)


$107.59


Fire
Surety-___.
Automobile
Total
Premium tax


Losses
Paid
$4,652.00
300.00
0.00
$4,952.00






CONTINENTAL INSURANCE COMPANY
NXt
Premiums
Fire -------- ----- $286.00
Miscellaneous ---------------------- 34,817.00
Inland marine ------------- -------- 1,066.00
Group accident and health -------------- 33.00
Accident only ----------------------------------- 10.00
Health and accident ----------------------------- 6,595.00
Workmen's compensation ------------------------- 31,336.00
Liability other than auto------------ 7,093.00
Auto liability ------------------------------ 54,117.00
Auto physical damage ---------------------------- 46,039.00
Fidelity --------------------------- ---- 1,239.00
Surety -- ----------------------- 1,976.00
Glass ------------------------- 115.00
Burglary and theft ------------------ 4,694.00
Total ---------------------------- $189,416.00
Premium tax paid in Canal Zone. ------- $2,841.24


FIDELITY AND CASUALTY COMPANY


Fire
Miscellaneous ------------- -----
Liability other than auto ---------- --
Total---------- -- --


Premium tax paid in Canal Zone


OF NEW YOR
Net
Premiums
$102.00
2,097.00
150.00
$2,349.00


---- $35.24


FIDELITY AND DEPOSIT COMPANY OF MARYLAND
Net
Premiums
------ ---- ------ $4,721.00
tal --. ------------- ---.- $4,721.00
ax paid in Canal Zone ..--- ----- $70.82


GENERAL INSURANCE COMPANY OF AMERICA

(No transactions in Canal Zone during 1974)


GREAT AMERICAN INSURANCE COMPANY

(No transactions in Canal Zone during 1974)


Losses
Paid
$4,284.00
0.00
35.00
0.00
0.00
0.00
11,911.00
176.00
11,340.00
10,724.00
0.00
0.00
0.00
187.00
$38,657.00



K
Losses
Paid
$0.00
0.00
0.00
$0.00





Losses
Paid
$0.00
$0.00


Surety
Tol
Premium t






HARTFORD ACCIDENT AND INDEMNITY COMPANY

Net
Premiums
Worlkmen's compensation__ .. -(Cr.)_ $428.00
Liability other than auto (B.I.) ____(Cr.)__ 134.00
Fire ..... _______._______ 114.00
Auto liability (B.I.) (Cr.) 19.00
Miscellaneous -------.------ -- 14.00
Auto physical damage 376.00
Inland marine-------------------------------- 602.00
Fidelity --------------------------- (Cr.)__ 231.00
Surety__ ------------------------ 160.00
Total -------- $454.00


Premium tax paid in Canal Zone-


$6.81


INSURANCE COMPANY OF NORTH AMERICA


Miscellaneous*.
Total
Premium tax paid in Canal Zone


Net
Premiums
_(Cr.)__ $33,218.00
_(Cr.)__ $33,218.00
$0.00


INTERNATIONAL SERVICE INSURANCE COMPANY


Auto liability ------------------------------
Auto physical damage --
Total --_---_------- -.. _.
Premium tax paid in Canal Zone.- ---- - -- -


Net
Premiums
$11,230.00
16,183.00
$27,413.00
$411.20


THE LIBERTY MUTUAL INSURANCE COMPANY


Class. ....--- -------__ ____ ---
Health and accident _-____
Liability other than auto (B.I.)
Total --_-- -----.-...---- -- --_-
Premium tax paid in Canal Zone ---_-..---------

0 (Breakdown by type of insurance unavailable.)


Net
Premiums
$53.00
130.00
900.00
$1,083.00
$16.25


Losses
Paid
$142.00
0.00
0.00
551.00
5,214.00
1,617.00
1,575.00
0.00
0.00
$9,099.00


Losses
Paid
$0.00
$0.00


Losses
Paid
$3,102.62
10,535.27
$13,637.89


Losses
1'aid
$0.00
0.00
0.00
$0.00






MARYLAND CASUALTY COMPANY
Net Losses
Premiums Paid
Accident only---- -----------------. $360.00 $95.00
Accident and health ----------------- ---- 1,220.00 688.00
Group accident and health 1,923.00 277.00
Auto liability- 41,871.00 43,340.00
Liability other than auto 13,384.00 333.00
Fidelity-- -- ------------ 1,773.00 240.00
Surety_ ---------------- 57,445.00 0.00
Glass-.--- ...0.00 50.00
Burglary and theft ----------------- 26,118.00 1,993.00
Inland marine ----------------------------------- 4,272.00 5,582.00
Workmen's compensation_ 82,204.00 141,515.00
Auto physical damage --------------------------- 29,835.00 42,277.00
Fire ------------------------------------- ----- 3,827.00 20.000.00
Miscellaneous ------- ------------------------ 964.00 0.00
Total -.- --------------- $265,196.00 $256,390.00
Premium tax paid in Canal Zone_. _-___ $3,977.96

MUTUAL OF OMAHA INSURANCE COMPANY
Group accident and health --------------------- $10,493,577.50 $6,665,321.50
Individual and health ------------------------ 270,909.50 191,456.50
Total- ..- $10,764,487.00 $6,856,778.00
Premium tax paid in Canal Zone $161,467.32

NATIONAL SURETY CORPORATION
Net Lossey
Premiums Paid
Surety --------------------------------(Cr.)__ $170.00 $0.00
Total ---- ------------- (Cr.)-- $170.00 $0.00
Premium tax paid in Canal Zone ---------- $0.00

NATIONAL UNION FIRE INSURANCE COMPANY
(No transactions in Canal Zone during 1974)

PANAMA INSURANCE COMPANY
Net Losses
Premiums Paid
Theft --------------- ---------- -- -- $23.76 $0.00
Workmen's compensation ------------------------- 63.91 0.00
Fire ------------------------------------------ 1,731.69 0.00
Automobile ------------------------------------ 370.48 0.00
Surety ------------------------- 623.00 0.00
Total .-------------------------- $2,812.84 $0.00
Premium tax paid in Canal Zone.------------------- $42.20






RELIANCE INSURANCE COMPANY


Worlanen's compensation _- _
Ocean marine --. ------
Inland marine
Total -_ '.- -
Premium tax paid in Canal Zone


- (Cr.)
(Cr.)


ROYAL INDEMNITY COMPANY


Workmen's compensation
Liability other than auto ....-- -
Suretv. ._ ._
Total
Premium tax paid in Canal Zone


Net Losses
Premi, ms Paid
$209.00 $0.00
23.00 0.00
0.00 (Cr.) $153,178.00
$232.00 (Cr.) $153,178.00
$3.48


SEABORD SURETY COMPANY

(No transactions in Canal Zone during 1974)



TRANSAMERICA INSURANCE COMPANY

(No transactions in Canal Zone during 1974)




TRAVELERS INDEMNITY COMPANY


Auto physical damage -
S u rety .. .. . . ... . . . . . . ... ... .
Total --. -- -- -----
Premium tax paid in Canal Zone .-______-____-.-


Net
Premiums
$428.00
11,675.00
$12,103.00
$181.55


Net
Premiums
$425.00
36.00
146.00
$315.00
$0.00


Losses
Paid
$0.00
0.00
0.00
$0.00


Losses
Paid
$0.00
0.00
$0.00





UNITED STATES FIDELITY AND GUARANTY COMPANY
Net Losses
Premiums Paid
Accident only -- $147.00 $0.00
Fire ------------------------------------------ 1,137.00 0.00
Inland marine ..-.------------ 100.00 0.00
Accident and health ----------------------------- 419.00 0.00
Workmen's compensation --------------- 124,140.00 31,264.00
Liability other than auto (B.I.) .. ---- --- 22,034.00 1,087.00
Auto liability (B.I.) -- ----------- ------ 154,318.00 35,082.00
Auto physical damage ---------------------------- 95,147.00 59,124.00
Fidelity------------------------- 7,610.00 0.00
Surety-- ----------------------- 342.00 (Cr.) 46.00
Burglary and theft ------------------------------- 2,141.00 5,170.00
Miscellaneous ------------(Cr.)-- 66.00 0.00
Total ------------------------------ $407,469.00 $131,681.00
Premium tax paid in Canal Zone---- ------- $6,112.05



AMERICAN-AMICABLE LIFE INSURANCE COMPANY

ORDINARY
Number Amount
Policies in force December 31, 1973 ---- --- 17 $165,702.00
Policies issued during 1974 ----- 8 109,791.00
Total------- 25 $275,493.00
Ceased to be in force during 1974 ------- ----- 6 98,000.00
Policies in force December 31, 1974 --------------19 $177,493.00
Losses and claims:
Unpaid December 31,1973 ------------- 0 $0.00
Incurred during 1974 ----------- ------0 0.00
Total ------------------------------------- 0 $0.00
Settled during 1974 ------- ------ 0 0.00
Unpaid December 31, 1974 -. ----- 0 $0.00

GRouP-None
Net premiums collected in Canal Zone during 1974:
Life Insurance $6,143.00
Accident and Health ------------------0.00
,Total --- --------------- $6,143.00
Premium tax paid in Canal Zone ----------..-- ---- ---- $92.15





AMERICAN CAPITOL INSURANCE COMPANY
ORDINARY


Policies in force December 31, 1973 ---------
Policies issued during 1974 .. - ____- _____-- _
Total-- --__ ____
Ceased to be in force during 1974 --__._______.___
Policies in force December 31, 1974
Losses and claims:
Unpaid December 31,1973 ---------
Incurred during 1974-----------------
Total --------------
Settled during 1974
Unpaid December 31,1974 __ -----


Number
785
8
793
85
708

0
7
7
6
1


GRoup-None
Net premiums collected in Canal Zone during 1974:
Life Insurance ---------------
Accident and Health ---------------__ _____
Total_ _______ ___--------------------------
Premium tax paid in Canal Zone .._____


AMERICAN CONTINENTAL LIFE INSURANCE COMPANY
ORDINARY


Policies in force December 31, 1973______ -
Policies issued during 1974 ____--
Total ____ __- ____
Ceased to be in force during 1974----------------
Policies in force December 31, 1974 -- ---
Losses and claims:
Unpaid December 31, 1973 ___-----
Incurred during 1974 ................ .
Total __
Settled during 1974
Unpaid December 31, 1974 ______-- -_____ __-


Number
2
0
2
2
0

0
0
0
0
0


GRouP-None
Net premiums collected in Canal Zone during 1974:
Life Insurance-- ------_ ___ _________ ------
Accident and Health____ ____________ _________
Total _---------------__________--___--__
Premium tax paid in Canal Zone .. _______-________.-----


Amount
$3,042,607.00
58,930.00
$3,101,537.00
205,581.00
$2,895,956.00

$0.00
10,600.00
$10,600.00
9,600.00
$1,000.00



$84,470.72
5,386.10
$89,856.82
$1,347.85


Amount
$15,000.00
0.00
$15,000.00
15,000.00
$0.00

$0.00
0.00
$0.00
0.00
$0.00



$0.00
118.00
$118.00
$1.77





AMERICAN DEFENDER LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1973 ---------------
Policies issued during 1974---------------------
Total---------------------
Ceased to be in force during 1974 ----------
Policies in force December 31, 1974 ----------
Losses and claims:
Unpaid December 31, 1973 .... ------ ---
Incurred during 1974--------------------
Total -----------------------
Settled during 1974 --------------
Unpaid December 31,1974

GROUP-None
Net premiums collected in Canal Zone during 1974:


Number
36
51
87
22
65

0
0
0
0
0


Life Insurance -----------------------
Accident and Health
Total -----------------------
Premium tax paid in Canal Zone.------ --------


AMERICAN FIDELITY LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1974)


Amount
$1,563,506.00
1,381,167.00
$2,944,673.00
1,268,282.00
$1,676,391.00

$0.00
0.00
$0.00
0.00
$0.00




$20,943.00
0.00
$20,943.00
$314.14






AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK

ORDINARY


Policies in force December 31, 1973
Policies issued during 1974
Total. __- _ ___________-
Ceased to be in force during 1974
Policies in force December 31, 1974 ---- -
Losses and claims:
Unpaid December 31, 1973 -- ----
Incurred during 1974 --____...
Total -____- __- __-
Settled during 1974 ____ -- --
Unpaid December 31,1974 ----- --------


* Number
1
0
1
0
1

0
0
0
0
0


GRouP


Policies in force December 31, 1973
Policies issued during 1974 -_._._.__
Total ._ ..
Ceased to be in force during 1974 --
Policies in force December 31, 1974_
Losses and claims:
Unpaid December 31, 1973
Incurred during 1974 ...--.....
Total _. __ .. .. _-__
Settled during 1974 --..-.. .


--- 1
-__----- 0


----- 0
-- 1


Unpaid December 31, 1974
Net premiums collected in Canal Zone during 1974:
Life Insurance ___ ___- -- -
Accident and Health ---..___ ___ _
Total -_ _______- _____ _______ _-_-__ _-
Premium tax paid in Canal Zone -__-_-_ _______ _


-- 0
0

0

0


ATLANTIC SOUTHERN INSURANCE COMPANY OF PUERTO RICO
(No transactions in Canal Zone during 1974)


Amount
$100,000.00
0.00
$100,000.00
3,606.00
$96,394.00

$0.00
0.00
$0.00
0.00
$0.00



$964,506.00
0.00
$964,506.06
599,508.00
$364,998.00

$0.00
0.00
$0.00
0.00
$0.00

$2,667.97
0.00
$2,667.97
$40.02





BANKERS LIFE INSURANCE COMPANY OF AMERICA


ORDINARY Num
Policies in force December 31, 1973 ------------------ 65
Policies issued during 1974---------------------
Total ------------------------------- 65
Ceased to be in force during 1974----- ---- 6
Policies in force December 31, 1974-- ---- 5
Losses and claims:
Unpaid December 31, 1973 -_------ ----
Incurred during 1974 -------------------------
Total------------------ 1
Settled during 1974 --------------
Unpaid December 31, 1974 ------ ------
GRouP-None
Net premiums collected in Canal Zone'during 1974:
Life Insurance ---------------------
Accident and Health ------ ------
Total----------------- --- ----
Premium tax paid in Canal Zone-------------


ber
8
0
8
9
9


Amount
$2,788,019.00
0.00
$2,788,019.00
250,224.00
$2,537,795.00


1 $2,500.00
9 9,524.00
.0 $12,024.00
9 9,524.00
1 $2,500.00



$78,336.98
0.00
$78,336.98
$1,175.05


BENEFICIAL NATIONAL LIFE INSURANCE COMPANY
(No transactions in Canal Zone during 1974)

CITIZENS STANDARD LIFE INSURANCE COMPANY


ORDINARY


Number


Policies in force December 31, 1973 ______- __ 1,072
Policies issued during 1974 -__- _----.- 1
Total---- ------- 1,073
Ceased to be in force during 1974 ------------------ 103
Policies in force December 31, 1974 -__- 970
Losses and claims:
Unpaid December 31, 1973 0
Incurred during 1974-------------------------- 5
Total ___---------------- 5
Settled during 1974 -___----- 5
Unpaid December 31, 1974 0
GRoun-None
Net premiums collected in Canal'Zone during 1974:
Life Insurance -- -------_---
Accident and Health- --------- -------
Total ------------
Premium tax paid in Canal Zone -- _- ----__--


r Amount
$3,782,411.00
5,000.00
$3,787,411.00
361,241.00
$3,426,170.00

$0.00
15,804.00
$15,804.00
15,804.00
S$0.00



$111,613.45
33,014.64
$144,628.09
$2,169.42





EXECUTIVE FUND LIFE INSURANCE COMPANY
ORDINARY
Number Amount
Policies in force December 31, 1973 ______ 19 $196,000.00
Policies issued during 1974 ------------------------- 0 0.00
Total -- --- --------- 19 $196,000.00
Ceased to be in force during 1974 -------------------- 3 27,657.00
Policies in force December 31, 1974_ 16 $168,343.00
Losses and claims:
Unpaid December 31, 1973 -------------- 0 $0.00
Incurred during 1974 -------------------------- 0 0.00
Total ------------------------------------- 0 $0.00
Settled during 1974_ 0 0.00
Unpaid December 31, 1974 --------------------- 0 $0.00
Gnoup-None
Net premiums collected in Canal Zone during 1974:
Life Insurance ---------------- ---------------------_ $1,749.00
Accident and Health ------ ----- ------------------------- 0.00
Total -------------------------------------------- $1,749.00
Premium tax paid in Canal Zone _----__--------_---_----- -- $26.23

FIDELITY AND GUARANTY LIFE INSURANCE COMPANY
ORDINARY
Number Amount


Policies in force December 31, 1973 ----------------- 118
Policies issued during 1974------------------------ 22
Total ----------------------------------- 140
Ceased to be in force during 1974 ------------------- 16
Policies in force December 31, 1974 ----------------- 124
Losses and claims:
Unpaid December 31,1973-------------- 0
Incurred during 1974---------------- 0
Total------------------------------------- 0
Settled during 1974 --------------------------- 0
Unpaid December 31,19741............. 0
Guour-None
Net premiums collected in Canal Zone during 1974:
Life Insurance------ -----------------
Accident and Health--- ------
Total-------------------- -----------------
Premium tax paid in Canal Zone ----------------


$1,638,075.00
805,180.00
$2,443,255.00
(61,235.00)
$2,504,490.00

$0.00
0.00
$0.00
0.00
$0.00



$32,320.00
0.00
$32,320.00
$484.80





THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


Policies in force December 31, 1973---------------
Policies issued during 1974 ..- -- _____- ________
Total___ _.
Ceased to be in force during 1974 -
Policies in force December 31, 1974 ____-__-___- ___

Losses and claims:
Unpaid December 31, 1973 ------ --
Incurred during 1974 --------------.--
Total------------------------
Settled during 1974
Unpaid December 31, 1974 ---- ___


GnouP-None
Net premiums collected in Canal Zone during 1974:
Life Insurance
Accident and Health ---------.--- ___
Total----------
Premium tax paid in Canal Zone -- --._ _--


INVESTORS LIFE INSURANCE COMPANY OF NEBRASKA

(No transactions in Canal Zone during 1974)


Number
997
34
1,031
109
922


0
17
17
17
0


Amount
$9,164,187.00
558,000.00
$9,722,187.00
691,667.00
$9,030,520.00


$0.00
42,306.95
$42,306.95
42,306.95
$0.00


$197,289.23
0.00
$197,289.23
$2,959.34





JACKSON NATIONAL LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1973 ---
Policies issued during 1974____ ----_ --
Total---------------------
Ceased to be in force during 1974 ----------
policies in force December 31, 1974 ---------

Losses and claims:
Unpaid December 31, 1973 --
Incurred during 1974 _-- ----
Total ------------ -------------------
Settled during 1974 ---------------
Unpaid December 31, 1974 -------------


Number
2
0
2
0
2


0
0
0
0
0


GCRour-None

Net premiums collected in Canal Zone during 1974:
Life Insurance -- ---- ---
Accident and Health----------------------------
Total-----------------------
Premium tax paid in Canal Zone------------------------



THE LAFAYETTE LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1974)


Amount
$43,650.00
0.00
$43,650.00
0.00
$43,650.00


$0.00
0.00
$0.00
0.00
$0.00




$1,780.00
0.00
$1,780.00
$26.70





LINCOLN NATIONAL LIFE INSURANCE COMPANY


ORDINARY


Policies in force December 31, 1973
Policies issued during 1974 __-- -- ____--- -----
Total. ----- ---__
Ceased to be in force during 1974 ____ ---
Policies in force December 31, 1974
Losses and claims:
Unpaid December 31, 1973 ----- ------
Incurred during 1974 ------------- -. .
Total __
Settled during 1974 -__.- _---.--.-- -
Unpaid December 31,1974 ---------

GnoUP

Policies in force December 31, 1973 ...........
Policies issued during 1974 --------------------
Total --_ --
Ceased to be in force during 1974-
Policies in force December 31, 1974
Losses and claims:
Unpaid December 31, 1973 -___________ -
Incurred during 1974 -
Total -.
Settled during 1974 -----. ___ -_-__ --- ---
Unpaid December 31, 1974
Net premiums collected in Canal Zone during 1974:
Life Insurance _______
Accident and Health -_---- .--_-__.-----
Total -_.-- --.- __.--______ -___- ____-..
Premium tax paid in Canal Zone


19


Number
392
1
393
35
358

0
3
3
3
0


0
0
0
0
0

0
0
0
0
0


Amount
$3,103,058.00
20,000.00
$3,123,058.00
294,290.00
$2,828,768.00

$0.00
6,000.00
$6,000.00
6,000.00
$0.00



$23,254.00
0.00
$23,254.00
(814.00)
$24,068.00

$0.00
0.00
$0.00
0.00
$0.00


$63,828.00
279.00
$64,107.00
$961.61






PAN-AMERICAN LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1973
Policies issued during 1974
Total .- ---------.-------
Ceased to be in force during 1974 --- -------
Policies in force December 31, 1974 ___- --
Losses and claims:
Unpaid December 31, 1973
Incurred during 1974 --
Total ------.. --.
Settled during 1974 -__--- -- --........
Unpaid December 31, 1974-

GRouP-None

Net premiums collected in Canal Zone during 1974:
Life Insurance-__ __
Accident and Health ..
Total -. .- ---_-_. -
Premium tax paid in Canal Zone--------


Number
103
11
114
9
105

0
0
0
0
0


PENINSULAR LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1974)


Amount
$1,292,560.00
221,000.00
$1,513,560.00
127,816.00
$1,385,744.00

$0.00
0.00
$0.00
0.00
$0.00




$33,343.29
0.00
$33,343.29
$500.15






UNITED BENEFIT LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1973 ---- --
Policies issued during 1974_ _-_______-. __-_______
Total ... ..
Ceased to be in force during 1974-------------
Policies in force December 31, 1974 _- _
Losses and claims:
Unpaid December 31, 1973 ---- -----
Incurred during 1974 --
Total- -----
Settled during 1974
Unpaid December 31, 1974

GRour
Policies in force December 31, 1973 ...... _____.__
Policies issued during 1974 - _____________________
Total __- __ _-__ __-
Ceased to be in force during 1974 -...
Policies in force December 31, 1974 ---
Losses and claims:
Unpaid December 31, 1973 ......
Incurred during 1974 ..............
T otal __ __-_____ -_
Settled during 1974_
Unpaid December 31, 1974 --
Net premiums collected in Canal Zone during 1974:
Life Insurance
Accident and Health _- __ _____
Total -- __ __- __- _- ___
Premium tax paid in Canal Zone ______ _


Number Amount
546 $4,291,692.00
241 3,433,430.00
787 $7,725,122.00
152 2,022,947.00
635 $5,702,175.00

1 $2,000.00
5 12,266.00
6 $14,266.00
5 12,266.00
1 $2,000.00



2 $123,299,550.00
0 0.00
2 $123,299,550.00
0 1,315,850.00
2 $121,983,700.00

3 $31,750.00
125 502,250.00
128 $534,000.00
124 498,500.00
4 $35,500.00

$627,936.32
84,341.76
_---_ $712,278.08
-- $10,684.17







UNITED SERVICES GENERAL LIFE COMPANY

(No transactions in Canal Zone during 1974)



UNITED SERVICES LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1973____-
Policies issued during 1974-----------------------
Total- -_-_----. .......------.. -----.-.
Ceased to be in force during 1974 -- ----
Policies in force December 31, 1974-
Losses and claims:
Unpaid December 31, 1973 ------
Incurred during 1974 ---
Total ._____-_.. .- __ _
Settled during 1974 ------------------
Unpaid December 31, 1974 -.----------


GROUP

Policies in force December 31, 1973 ----------------
Policies issued during 1974__ _____ ------
Total --
Ceased to be in force during 1974 -
Policies in force December 31, 1974-
Losses and claims:
Unpaid December 31, 1973
Incurred during 1974-
Total __ ________
Settled during 1974 ---------------------.-_---
Unpaid December 31, 1974
Net premiums collected in Canal Zone during 1974:
Life Insurance ---.------ ---- ----


Number
463
154
617
295
322


0
0
0
0
0


162
0
162
162
0


0
0
0
0
0


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


Amount
$6,959,756.00
3,485,849.00
$10,445,605.00
4,917,234.00
$5,528,371.00


$0.00
0.00
$0.00
0.00
$0.00



$1,819,239.00
0.00
$1,819,239.00
1,819,239.00
$0.00

$0.00
0.00
$0.00
0.00
$0.00

$102,587.00
0.00
$102,587.00
$1,538.81






UNITED STATES LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1973 __-
Policies issued during 1974__ _____
Total ..
Ceased to be in force during 1974 .-


Policies in force December 31, 1974 .__------ --
Losses and claims:
Unpaid December 31, 1973 ---------
Incurred during 1974 _---___________ --.-_
Total _
Settled during 1974-__------------------
Unpaid December 31, 1974 ------ ---

Gnour

Policies in force December 31, 1973 --
Policies issued during 1974__ __-_-- -- ---- -
Total._. -. _.. __._.. _.
Ceased to be in force during 1974 __
Policies in force December 31, 1974
Losses and claims:
Unpaid December 31, 1973 -------- -- -
Incurred during 1974 ____
Total .....
Settled during 1974 --- -- ---


Number

-_- _- 0
9
.---- ----- 0


9


0
0
0
0
0



1
0
1
0
1


Unpaid December 31, 1974 -- -
Net premiums collected in Canal Zone during 1974:
Life Insurance -------- -- _-
Accident and Health --_ ____ .
Total .
Premium tax paid in Canal Zone


Amount
$67,595.00
23.00
$67,618.00
0.00
$67,618.00


$0.00
0.00
$0.00
0.00
$0.00



$174,681.00
0.00
$174,681.00
30,681.00
$144,000.00


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


$2,783.00
0.00
$2,783.00
$42.00





WABASH LIFE INSURANCE COMPANY

(No transactions in Canal Zone during 1974)



WORLD SERVICE LIFE INSURANCE COMPANY

ORDINARY
Number Amount
Policies in force December 31, 1973 ------------ 11 $134,849.00
Policies issued during 1974 ------------------------- 1 15,000.00
Total----------- ----------- 12 $149,849.00
Ceased to be in force during 1974 -_------ 9 117,200.00
Policies in force December 31, 1974 ------------------ 3 $32,649.00
Losses and claims:
Unpaid December 31, 1973 ----------- 0 $0.00
Incurred during 1974 --------- 0 0.00
Total .- 0 $0.00
Settled during 1974 --------------------------- 0 0.00
Unpaid December 31, 1974.-__--------- 0 $0.00

GRouP

Policies in force December 31, 1973 ----------------- 0 $53,259.00
Policies issued during 1974 -------------------------__ 0 0.00
Total ------- -------------- 0 $53,259.00
Ceased to be in force during 1974 ------------ 0 53,259.00
Policies in force December 31, 1974 ---------- 0 $0.00
Losses and claims:
Unpaid December 31, 1973 --------------------- 0 $0.00
Incurred during 1974 ---------------------.--- 0 0.00
Total --------------------- 0 $0.00
Settled during 1974 --------------- 0 0.00
Unpaid December 31, 1974 -- 0 $0.00
Net premiums collected in Canal Zone during 1974:
Life Insurance-- ----------------- $11,768.00
Accident and Health------- -------- 0.00
Total ---------------------------- $11,768.00
Premium tax paid in Canal Zone ---------------------------- $176.53





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 -_--------- ------
Class ---------
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 ------.-


Net
Premiums
$517.00
393,969.22
5,805.65
34,593.43
308,213.23
27,799.73
188,008.00
33,778.23
0.00
10,391.00
60,861.85
168.00
10,501,766.50


Losses
Paid
$95.00
188,377.61
2,467.37
18,162.25
97,674.98
18,978.73
124,277.27
7,350.00
0.00
240.00
24,979.69
50.00
6,670,250.50


279,634.50 192,444.50
6,186.00 7,192.00
191,528.05 25,416.42
9,945.75 5,214.00
(Cr.) 36.00 0.00
0.00 0.00
82,387.40 (Cr.) 153,224.00
454,927.11 246,241.02
$12,590,444.65 $7,476,187.34

$189,362.31





LIFE INSURANCE COMPANIES

ORDINARY


Policies in force December 31, 1973 -----
Policies issued during 1974 - ------
Total --------------


Ceased to be in force during 1974 -
Policies in force December 31, 1974 ---------
Losses and claims:
Unpaid December 31, 1973 ------ -----
Incurred during 1974 ---------------


Total --- ------------
Settled during 1974 --- -----
Unpaid December 31, 1974 ------ -.


Number
5,231
532
5,763


915
4,848

2
46


---- 48
---- 45
3


GROUP

Policies in force December 31, 1973 ----------
Policies issued during 1974 ----- -- -------
Total .-. .- ..... ...
Ceased to be in force during 1974 -------------
Policies in force December 31, 1974 ---- --


Losses and claims:
Unpaid December 31, 1973 ------------
Incurred during 1974


Total ------
Settled during 1974 -----


Unpaid December 31, 1974 -- -------
Net premiums collected in Canal Zone during 1974:
Life Insurance _. --.-----
Accident and Health -.

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


166
0
166
162
4


Amount
$38,348,667.00
10,093,370.00
$48,442,037.00
10,339,510.00
$38,102,527.00

$4,500.00
96,500.95
$101,000.95
95,500.95
85,500.00



$126,334,489.00
0.00
$126,334,489.00
3.817,723.00
$122,516,766.00


3 $31,750.00
127 504,250,00
130 $536,000.00
126 500,500.00

4 $35,500.00


.-- $1,379,558.96
123,139.50

$1,502,698.46
-..- $22,540.74


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.





































30
54144 -550




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