|
CANAL ZONE GOVERNMENT
ANNUAL
OF
INSURANCE
BUSINESS
transacted in the
CANAL
ZONE
DURING THE CALENDAR YEAR
1963
Including Laws Concerning Licensing
Of Insurance Companies
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CANAL ZONE GOVERNMENT
ANNUAL
REPORT
OF
INSURANCE
BUSINESS
transacted in the
CANAL
ZONE
DURING THE CALENDAR YEAR
1963
Including
Laws Concerning
Licensing
Of Insurance Companies
j
Digitized by the Internet Archive
in 2009 with funding from
University of Florida, George A. Smathers Libraries
http://www.archive.org/detaiIs/annualreportofin 1963cana
CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR
BALBOA, HEIGHTS, C.Z. April 1, 1964.
GOVERNOR OF TIHE 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 1963.
Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.
The following companies were authorized to transact business in the Canal
Zone during the year 1963:
American International Life Assurance Company of New York1-
New York, N.Y.
American Life Insurance Company Birmingham, Ala.
American Motorists Insurance Co._ _Chicago, Ill.
American Surety Company of New York2 -New York, N.Y.
Bankers Life Insurance Company of America -Dallas, Tex.
Citizen Standard Life Insurance Company3 Corpus Christi, Tex.
Colonial American Life Insurance Company- Corpus Christi, Tex.
Colonial Insurance Company4_ Los Angeles, Calif.
Colonial Insurance Company of Panama- Panama, R. of P
Commercial Insurance Company-_ -Newark, N.J.
Compaflia General d2 Seguros, S.A. Panama, R. of P
Compafnia Interamericana de Seguros, S.A._ _Panama, R. of P
Companiia Internacional de Seguros, S.A. Panama, R. of P
Compafia Istmefia de Seguros, S.A._ Panama, R. of P
Compafila Nacional de Seguros, S.A. 5 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 Company6 Baltimore, Md.
Firemen's Insurance Company of Newark _Newark, N.J.
General Insurance Company of America-_ Seattle, Wash.
Gibraltar Life Insurance Company of America- -Dallas, Tex.
Hartford Accident and Indemnity Company _Hartford, Conn.
Illinois Mid-Continent Life Insurance Company Chicago, Ill.
Insurance Company of North America7 -Philadelphia, Pa.
International Service Insurance Company Fort Worth, Tex.
Liberty Mutual Insurance Company Boston, Mass.
Lincoln National Life Insurance Company Fort Wayne, Ind.
Maryland Casualty Company -Baltimore, Md.
Mutual of Omaha Insurance Company- Omaha, Nebr.
National Surety Corporation- New York, N.Y.
National Union Fire Insurance Company _Pittsburgh, Pa.
Panama Insurance Company Inc. _Panama, R. of P
Pan-American Life Insurance Company New Orleans, La.
Royal Indemnity Company -New York, N.Y.
Seaboard Surety Company _New York, N.Y.
Service Life Insurance Company Fort Worth, Tex.
Transamerica Insurance Company8 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.
1 American International Life Assurance Company of New York licensed in the Canal Zone
August 5, 1963.
2 American Surety Company of New York merged with Transamerica Insurance Company
effective December 31, 1963.
3 Citizens Standard Life Insurance Company licensed in the Canal Zone March 27, 1963.
4 Colonial Insurance Company (of California) discontinued doing business in the Canal Zone
effective July 26, 1963.
5 Compailia Nacional de Seguros, S.A. discontinued doing business in the Canal Zone effective
October 1, 1963.
6 Fidelity and Guaranty Life Insurance Company licensed in the Canal Zone March 6, 1963.
7 Insurance Company of North America licensed in the Canal Zone April 22, 1963.
8 Transamerica Insurance Company licensed in the Canal Zone December 12, 1963.
AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1963)
AMERICAN SURETY COMPANY OF NEW YORK
Property damage other than auto
Liability other than auto (B.I.)
Fidelity
Surety
Burglary and theft
Total
Premium tax paid in Canal Zone
Net
Premiums
$1,692.84
1,996.68
661.26
216.(00
91.83
$4,658.61
$69.88
Losses
Paid
$0.00
0.00
0.00
0.00
0.00
$0.00
COLONIAL INSURANCE COMPANY
(No transactions in Canal Zone during 1963)
COLONIAL INSURANCE COMPANY OF PANAMA
Automobile and motor vehicle
Total -
Premium tax paid in Canal Zone
Net
Premiums
$109,478.10
$109,478.10
$1,642.17
Losses
Paid
$26,005.04
$26,005.04
COMMERCIAL INSURANCE COMPANY
Net
Premi,tnms
Auto liability
Burglary and theft
Workmen's compensation_
Liability other than auto_
Accident-
Total
Premium tax paid in Canal Zone
$11,783.97
833.76
109,022.01
10,175.03
197.25
$132,012.02
$1,980.18
Losses
Paid
$697.18
137.25
40,867.16
235.74
0.00
$41,847.33
COMPANIA GENERAL DE SEGUROS, S.A.
Fire
Auto comprehensive
Auto collision
Auto liability (B.I.)_
Hospital and medical
Auto property damage
Burglary and theft-
Automobile and motor vehicle
Total -
Premium tax paid in Canal Zone
Net
Premiums
$15.00
75.56
318.98
398.31
39.11
290.95
87.44
80.24
$1,305.59
$19.58
Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
$0.00
COMPARIA INTERAMERICANA DE SEGUROS, S.A.
Net
Premiums
Fire
Automobile
Total -
Premium tax paid in Canal Zone
COMPANIA INTERNATIONAL DE SEGUROS, S. A.
Net
Premiums
Fire
Total
Premium tax paid in Canal Zone
COMPANIA ISTMENA DE SEGUROS, S. A.
Workmen's compensation_
Total _
Premium tax paid in Canal Zone
Net
Premiums
$13,040.67
S13,040.67
$195.61
COMPANIA NATIONAL DE SEGUROS, S. A.
(No transactions in Canal Zone during 1963)
CONTINENTAL CASUALTY COMPANY
Net
Premiums
Inland marine
Accident
Accident and health
Hospital and medical expenses-
Group accident and health-
Liability other than auto (B.I.)_
Auto liability (B.I.)_
Auto liability (P.D.)_
Auto physical damage
Property damage other than auto
Total
Premium tax paid in Canal Zone
$2.13
106.72
9,965.70
119.15
3,561.59
96.32
2,540.55
1,152.05
4,004.74
1.75
$21,550.70
$323.26
CONTINENTAL INSURANCE COMPANY
Fire
Extended coverage
Total _
Premium tax paid in Canal Zone
Net
Premiums
$3,252.03
614.88
$3,866.91
$58.00
$2,959.75
2,788.59
$5,748.34
$86.25
Losses
Paid
$0.00
0.00
$0.00
Losses
Paid
$0.00
$0.00
$1,380.28
$1,380.28
$20.70
Losses
Paid
$0.00
$0.00
Losses
Paid
$0.00
0.00
3,521.77
0.00
1,302.21
0.00
0.00
1,219.28
3,113.63
532.15
$9,689.04
Losses
Paid
$0.00
0.00
$0.00
FIDELITY AND CASUALTY COMPANY OF NEW YORK
(No transactions in Canal Zone during 1963)
FIDELITY AND DEPOSIT COMPANY
Net Losses
Premiums Paid
Surety (cr.) $41.39 $0.00
Total -
Premium tax paid in Canal Zone
(cr.) $41.39
$0.00
FIREMAN'S INSURANCE COMPANY OF NEWARK
Net
Premiums
Fire
Automobile and motor vehicle
Miscellaneous
Total
Premium tax paid in Canal Zone
$16,852.41
149,774.15
26.29
$166,652.85
$2,499.79
Losses
Paid
$89.00
64,878.23
0.00
$64,967.23
GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1963)
HARTFORD ACCIDENT AND INDEMNITY COMPANY
Net
Premiums
Property damage other than auto
Surety
Workmen's compensation
Liability other than auto
Auto liability (P.D.)
Auto liability (B.I.)
Total _
Premium tax paid in Canal Zone
$19.60
44.00
59.00
595.88
36.00
73.40
$827.88
$12:42
INSURANCE COMPANY OF NORTH AMERICA
Net
Premiums
Suretv
Total
Premium tax paid in Canal Zone
$6,148.38
$6,148.38
$92.23
INTERNATIONAL SERVICE INSURANCE COMPANY
Net
Auto liability (B.I.)_
Auto property damage
Auto physical damage
Liability other than auto
Total _
Premium tax paid in Canal Zone
Premiums
$10,212.61
5,102.03
32,373.09
45.00
$47,732.73
$715.99
Losses
Paid
$2,591.70
5,037.59
7,420.75
0.00
$15,050.04
$0.00
Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Losses
Paid
$0.00
$0.00
THE LIBERTY MUTUAL INSURANCE COMPANY
Health and accident-
Croup accident and health
Workmen's compensation
Auto physical damage
Total_
Premium tax paid in Canal Zone
Net
Premiums
$56.00
98.00
184.00
1.00
$339.00
$5.09
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_
Total _
Premium tax paid in Canal Zone
Net
Premiums
$1,863.59
435.88
47.50
834.35
22,137.59
7,829.36
2,258.03
52,683.89
144.65
10,078.38
15,467.72
2,648.70
3,334.67
49,430.00
31,320.50
4,553.41
124.30
$205,192.52
$3,077.89
Losses
Paid
$961.40
0.00
0.00
396.40
8,203.20
17.00
0.00
0.00
24.00
1,447.60
14,515.29
256.50
1,495.85
22,711.75
14,654.36
91.90
0.00
$64,775.25
MUTUAL OF OMAHA INSURANCE COMPANY
Group accident and health
Accident _
Health and accident_
Hospital and medical-
Total
Premium tax paid in Canal Zone
Net
Premiums
$10,517.32
1,420.73
85,932.09
1,046,118.35
$1,143,988.49
$17,159.83
Losses
Paid
$6,987.85
62.04
38,613.24
694,214.09
$739,877.22
NATIONAL SURETY CORPORATION
(No transactions in Canal Zone during 19631
Losses
Paid
$0.00
0.00
0.00
0.00
$0.00
NATIONAL UNION FIRE INSURANCE COMPANY
Net
Premiums
Fire
Automobile and motor vehicle
M miscellaneous
Total
Premium tax paid in Canal Zone
$14,581.25
22,586.28
1,524.56
$38,692.09
$580.38
Losses
Paid
$0.00
10,570.14
0.00
$10,570.14
PANAMA INSURANCE COMPANY
Net
Premiums
Fire _
Workmen's compensation
Liability other than auto
Surety
Automobile
$2,970.12
64,395.74
10,209.89
14,090.02
4,795.26
$96,461.03
$1,446.92
Total -
Premium tax paid in Canal Zone
ROYAL INDEMNITY COMPANY
Net
Premiums
Auto property damage
Burglary and theft
Auto liability (B.I.)
Surety
Total
Premium tax paid in Canal Zone
$0.00
21.75
0.00
41,608.91
$41,630.66
8624.46
Losses
Paid
$0.00
47,062.74
2,807.65
1,172.56
1,696.50
$52,739.45
Losses
Paid
$1,016.70
0.00
235.00
0.00
$1,251.70
SEABOARD SURETY COMPANY
Surety
Total-
Premium tax paid in Canal Zone
Net
Premiums
$1,594.00
$1,594.00
$23.91
TRANSAMERICA INSURANCE COMPANY
(No transactions in Canal Zone during 1963)
TRAVELERS INDEMNITY COMPANY
Net
Premiums
Surety
Auto physical damage
Total
Premium tax paid in Canal Zone
$8,666.92
0.00
$8,666.92
$130.00
Losses
Paid
$0.00
$0.00
Losses
Paid
$0.00
131.14
$131.14
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
Glass _
Total
Premium tax paid in Canal Zone_
Net
Premiums
$44.24
27,899.90
5,459.14
1,111.64
49.50
23,748.54
3,190.48
32,415.92
17,085.61
18,284.63
1,078.84
3,775.61
16,711.67
5,595.35
69.60
$156,520.67
$2,347.81
Losses
Paid
$0.00
7,959.79
66.30
0.00
262.02
6,190.41
168.01
5,115.46
16,645.25
5,714.39
29.15
2,373.69
( r.) 250.00
733.59
0.00
$45,008.06
AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK
(No transactions in Canal Zone during 1963)
AMERICAN LIFE INSURANCE COMPANY
ORDINARY
Number
85
2
87
64
Policies in force December 31, 1962_
Policies issued during 1963-
Total
Ceased to be in force during 1963_
Policies in force December 31, 1963 _
Losses and claims:
Unpaid December 31, 1962_
Incurred during 1963
Total -
Settled during 1963_
Unpaid December 31, 1963_
Amount
$498,240.00
12,000.00
$510,240.00
354,438.00
23 $155,802.00
0
1
1
1
0
$0.00
4,000.00
$4,000.00
4,000.00
$0.00
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance _
Accident and Health
Total
Premium tax paid in Canal Zone_ -
$4,645.61
0.00
$4,645.61
$69.6S
BANKERS LIFE INSURANCE COMPANY OF AMERICA
ORDINARY
Policies in force December 31, 1962 __
Policies issued during 1963
Total _
Ceased to be in force during 1963_
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total -
Settled during 1963
Unpaid December 31, 1963
Number
1
1,475
1,476
266
1,210
0
1
1
1
0
Amount
$5,000.00
6,464,820.00
$6,469,820.00
1,197,013.00
$5,272,807.00
$0.00
1,000.00
$1,000.00
1,000.00
$0.00
GRouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance _._---
Accident and Health_
Total _
Premium tax paid in Canal Zone
$59,912.45
0.00
$59,912.45
$898.69
CITIZENS STANDARD LIFE INSURANCE COMPANY
ORDINARY
Number
Amount
Policies in force December 31, 1962 _
Policies issued during 1963_
Total _
Ceased to be in force during 1963 -
Policies in force December 31, 1963..
Losses and claims:
Unpaid December 31, 1962 -_
Incurred during 1963
Total -
Settled during 1963 ---
Unpaid December 31, 1963 __
0
2,397
2,397
993
1,404
0
2
2
1
1
$0.00
7,827,827.00
$7,827,827.00
2,893,447.00
$4,934,380.00
$0.00
4,041.00
$4,041.00
1,541.00
$2,500.00
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance- ---
Accident and Health-
Total- --
Premium tax paid in Canal Zone-
$48,302.98
0.00
$48,302.98
$724.54
Policies in
Policies iss
Tot
Ceased to
Policies in
Losses and
Unpai
Incurr
Tot
Settle
Unpai
COLONIAL AMERICAN LIFE INSURANCE COMPANY
ORDINARY Number
force December 31, 1962 76 $
ued during 1963 692 2,
al_ 768 $2.
be in force during 1963 89
force December 31, 1963 679 $2
claims:
d December 31, 1962 0
ed during 1963 3
tal 3
d during 1963_ 3
id December 31, 1963 0
Amount
442,494.00
330,943.00
773,437.00
499,678.00
,273,759.00
$0.00
437.00
$437.00
437.00
$0.00
GnROUP
Policies in force December 31, 1962
Policies issued during 1963
Total_
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
incurred during 1963
Total _
Settled during 1963
Unpaid December 31, 1963_
Net premiums collected in Canal Zone during 1963:
Life Insurance _
Accident and Health_
Total _
Premium tax paid in Canal Zone_
Number
3
0
3
2
1
14
20
34
34
0
Amount
$409,350.00
23,050.00
$432,400.00
415,400.00
$17,000.00
$1,450.00
2,150.00
$3,600.00
3,600.00
$0.00
$61,391.08
9,851.36
$71,242.44
$1,068.64
EQUITY ANNUITY LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962_
Policies issued during 1963 _
Total
Ceased to be in force during 1963 _
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total _
Settled during 1963
Unpaid December 31, 1963 _
GRoUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance _
Accident and Health
Total_ _
Premium tax paid in Canal Zone_
Number
18
0
18
2
16
0
0
0
0
0
Amount
$18,000.00
0.00
$18,000.00
2,000.00
$16,000.00
$0.00
0.00
$0.00
0.00
$0.00
$5,518.97
0.00
$5,518.97
$82.78
FIDELITY AND GUARANTY LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total_
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963_
Total _
Settled during 1963
Unpaid December 31, 1963
Number
0
59
59
2
57
Amount
$0.00
363,020.00
$363,020.00
13,439.00
$349,581.00
$0.00
0.00
$0.00
0.00
$0.00
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total
Premium tax paid in Canal Zone
THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA
ORDINARY
Number Amount
Policies in force December 31, 1962
Policies issued during 1963
Total _
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962_
Incurred during 1963_
Total
Settled during 1963
Unpaid December 31, 1963
1,163 $5,329,917.00
779 4,252,000.00
1,942 $9,581,917.00
171 1,004,159.00
1,771 $8,577,758.00
0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total _
Premium tax paid in Canal Zone
$189,884.51
20.00
$189,904.51
$2,848.57
$2,326.40
0.00
$2,326.40
$34.90
ILLINOIS MID-CONTINENT LIFE INSURANCE COMPANY
ORDINARY
Number
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963 _
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963-
Total
Settled during 1963_
Unpaid December 31, 1963
GnouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total _
Premium tax paid in Canal Zone-
Amount
$207.00
0.00
$207.00
$3.11
0 $0.00
1 10,000.00
1 $10,000.00
0 0.00
1 $10,000.00
0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00
LINCOLN NATIONAL LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963- -
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963 _
Total
Settled during 1963
Unpaid December 31, 1963_
Number
1,652
193
1,845
518
1,327
0
1
1
1
Amount
$9,930,509.00
1,493,863.00
$11,424,372.00
3,002,786.00
$8,421,586.00
$0.00
2,000.00
$2,000.00
2,000.00
$0.00
GRouP
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962_
Incurred during 1963
Total -
Settled during 1963
Unpaid December 31, 1963
Net premiums collected in Canal Zone during 1963:
Life Insurance_
Accident and Health_
Total -
Premium tax paid in Canal Zone_
Number
3
0
3
0
3
0
0
0
0
0
Amount
$261,588.00
3,686.00
$265,274.00
(3,172.00)
$268,446.00
$0.00
0.00
$0.00
0.00
$0.00
$119,812.60
2,652.42
$122,465.02
$1,836.98
PAN-AMERICAN LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963-
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total -
Settled during 1963
Unpaid December 31, 1963
Number
220
16
236
15
221
0
0
0
0
0
Amount
$1,493,875.00
129,000.00
$1,622,875.00
132,863.00
$1,490,012.00
$0.00
0.00
$0.00
0.00
$0.00
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total
Premium tax paid in Canal Zone_
$24,447.09
0.00
$24,447.09
$366.71
THE SERVICE LIFE INSURANCE COMPANY
ORDINARY
Number
Policies in force December 31, 1962
Policies issued during 1963
Total -
Ceased to be in force during 1963
Policies in force December 31, 1963 _
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963-
Total
Settled during 1963-
Unpaid December 31, 1963
12
0
12
1
11
0
0
0
0
0
Amount
$27,818.00
0.00
$27,818.00
2,000.00
$25,818.00
$0.00
0.00
$0.00
0.00
$0.00
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total -
Premium tax paid in Canal Zone
$2,113.05
0.00
$2,113.05
$31.70
UNITED BENEFIT LIFE INSURANCE
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total -
Settled during 1963
Unpaid December 31, 1963
GRouP
Policies in force December 31, 1962_
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total
Settled during 1963
Unpaid December 31, 1963-
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health_
COMPANY
Number
421
452
873
97
776
0
5
5
5
0
Number
1
1
2
0
2
3
50
53
50
3
Amount
$2,908,210.00
899,882.00
$3,808,092.00
692,925.00
$3,115,167.00
$0.00
16,048.91
$16,048.91
16,048.91
$0.00
Amount
$45,722,500.00
25,129,500.00
$70,852,000.00
214,500.00
$70,637,500.00
$4,500.00
229,000.00
$233,500.00
220,500.00
$13,000.00
$279,109.00
5,141.70
Total $284,250.70
Premium tax paid in Canal Zone_ $4,263.76
UNITED SERVICES LIFE INSURANCE COMPANY
ORDINARY Number
force December 31, 1962_ 114
d during 1963 23
Total -
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962-
Incurred during 1963-
Total _
Settled during 1963
Unpaid December 31, 1963_
GROUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total
Premium tax paid in Canal Zone
137
1
136
0
0
Amount
$855,500.00
341,563.00
$1,197,063.00
1,000.00
$1,196,063.00
$0.00
0.00
$0.00
0.00
$0.00
$15,858.53
0.00
$15,858.53
$237.88
Policies in f(
Policies issue
UNITED STATES LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total -
Settled during 1963
Unpaid December 31, 1963
GROUP
Number
47
5
52
1
51
0
0
0
0
0
Number
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963 _
Policies in force December 31, 1963_
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total
Settled during 1963-
Unpaid December 31, 1963_
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total -
Premium tax paid in Canal Zone_
4
0
4
0
0
0
0
0
Amount
$588,903.00
121,313.00
$710,216.00
15,324.00
$694,892.00
$0.00
0.00
$0.00
0.00
$0.00
Amount
$2,324,593.00
124,108.00
$2,448,701.00
0.00
$2,448,701.00
$0.00
0.00
$0.00
0.00
$0.00
$17,262.54
12,735.05
$29,997.59
$449.96
RECAPITULATION
MISCELLANEOUS COMPANIES
Net
Premiums
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
Hospital and medical
Inland marine
Liability other than auto
Miscellaneous _
Property damage other than auto
Surety
Workmen's compensation
Total -
Premium taxes paid in Canal Zone_
$2,210.08
289,502.62
75.56
28,218.88
79,562.35
39,134.36
85,983.96
16,708.51
783.42
6,694.90
52,023.39
214.25
15,011.26
96,001.29
1,048,140.20
3,762.47
34,138.64
1,550.85
6,127.70
141,722.40
259,879.96
$2,207,447.05
$33,112.35
Losses
Paid
$324.06
103,149.91
0.00
7,959.79
16,752.54
3S,434.11
31,034.27
2,318.44
0.00
2,373.69
247.20
24.00
8,686.46
42,135.01
695,175.49
256.50
3,228.40
0.00
2,057.15
922.56
116,832.06
$1,071,911.64
LIFE INSURANCE COMPANIES
ORDINARY
Number
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963-
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962_
Incurred during 1963
Total _
Settled during 1963
Unpaid December 31, 1963
3,809 $22,098,466.00
6,094 24,246,231.00
9,903 $46,344,697.00
2,220 9,811,072.00
7,683 $36,533,625.00
$0.00
27,526.91
13 $27,526.91
12 25,026.91
1 $2,500.00
Amount
GROUP
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total
Settled during 1963
Unpaid December 31, 1963
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total
Premium tax paid in Canal Zone
Number Amount
11 $48,718,031.00
1 25,280,344.00
12 $73,998,375.00
2 626,728.00
10 $73,371,647.00
.7 $5,950.00
'0 231,150.00
;7 $237,100.00
14 224,100.00
3 $13,000.00
$830,791.81
30,400.53
$861,192.34
$12,917.90
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,
1963:
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
813,016,355.20
3,219,323.79
0.00
14,228,422.37
12,321,275.00*
1,299,571.38
Amount of
damage
by fire
$5,785.56
60.00
0.00
5,107.21
6,460.00*
8,282.00
$44,084,947.74 $25,694.77
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 1V2 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.
4940-500
ILLINOIS MID-CONTINENT LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962_ __
Policies issued during 1963 -.
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total
Settled during 1963
Unpaid December 31, 1963
CRouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance _
Accident and Health
Total
Premium tax paid in Canal Zone-....
Number
0
S 1
1
0
1
0
0
0
0
0
A i. ll iii
$1 l 1 1 111
1.1 II II I IIII
$ i iii i
I I I III
1$ 1 111
II lli l
$0.00
8207.00
0.00
$207.00
$3.11
AMERICAN MOTORISTS INSURANCE COMPANY
(No transactions in Canal Zone during 1963)
AMERICAN SURETY COMPANY OF NEW YORK
Net
Premi umns
Property damage other than auto
Liability other than auto (B.I.)
Fidelity
Surety
Burglary and theft
Total
Premium tax paid in Canal Zone
$1,692.84
1,996.68
631.26
216.00
91.83
$4,658.61
$69.88
COLONIAL INSURANCE COMPANY
(No transactions in Canal Zone during 1963)
COLONIAL INSURANCE COMPANY OF PANAMA
Automobile and motor vehicle
Total
Premium tax paid in Canal Zone
Net
Premiums
$109,478.10
8109,478.10
$1,642.17
COMMERCIAL INSURANCE COMPANY
Auto liability-
Burglary and theft
Workmen's compensation
Liability other than auto
Accident_
Total
Premium tax paid in Canal Zone
Net Losses
Prenmiims Paid
$11,783.97 $607.18
833.76 137.25
109,022.01 40,867.16
-- 0,175.03 235.74
197.25 0.00
$132,012.02 $41,847.33
$1,980.18
COMPANIA GENERAL DE SEGUROS, S.A.
Net
Premiums
Fire ____ $15.00
Auto comprehensive --- .. 75.56
Auto collision __ __ ____318.98
Auto liability (B.I.) __ _398.31
Hospital and medical ___________ 39.11
Auto property damage -_________-____- 290.95
Burglary and theft_ ____________ __ ____ -87.44
Automobile and motor vehicle _____ 80.24
Total ______ __ _...
Premium tax paid in Canal Zone
$1,305.59
$19.58
Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
80.00
Losses
Paid
$0.00
0.00
0.00
0.00
0.00
$0.00
Losses
Paid
826,005.04
$26,005.04
UNITED STATES LIFE INSURANCE CO\IPANY
ORDINARY
Policies in force December 31. 1962
Policies issued during 1963
Total ..
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total _
Settled during 1963
Unpaid December 31, 1963
GROUP
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963 _
Total -
Settled during 1963 ---
Unpaid December 31, 1963
Net premiums collected in Canal Zone during 1963:
Life Insurance - - -
Accident and Health ___
Total -----
Premium tax paid in Canal Zone --- -----
('l. Pt/',. r
.1
3
-1 I
I I
II
I
II
[I
'
II
-1
I I
1 I ,1 l.nt
i':. .324
'111 1
111111
1111111
I I I II I
S l.'II l
\ 111111
*.2 4.- I -4 .3 L
1 1. 111
1.1 tI .l
12 4 L ni.
-I I I. iI' I1.
S-' 4 f ,
i.. I I. I ...... ir ...t I...I L, 1, .' on behalf of such a corporation affecting
tl, I d I.Iit 1l._.,..-..1 .,' i,.1.lh1111 i... property within the Canal Zone is void
1.1, 11 In, li lt ., 1.l I A.1 I.-I Ill .. I it i.igns, but is enforceable against it or them .
s'. ii C, .,'i'.., '-,'' ... i,, g in securities.-A corporation licensed
.ii'''' 'ii t r'I Cli.q.i't 7':i .t ri. ; tItl is not required to comply with sections
H.1. Ci7' ,,f t111 ltlL
SL l Si .,.. ,l.I .... '... i, ,e to do business.-(a) A corporation
II. .i. .. I.. I .1.. I, i., ,L i, li C'.i.i il Zone may surrender its license by filing
I.,i. rIe .. ..iti. ,. .....i a, .1 rite Canal Zone Government a certificate
.i li..l I. l .,.: i 1... I. .1c I I, t- I .i.sident or a vice president and its secretary
,.I i,, .., t H. ,i .i -' t ,- r, setting forth:
1 T'i, ilir' .f tII- 'i... .oration as shown on the records of the
.. ..... il ,. ..lH. ', I .I.I tl,, state or place of incorporation;
I I t it i ..... j-I i nation of agent for the service of process;
I I1 t i ',i ,,, I1. I i. iuthoritv to do business in the Canal Zone
.i',I returns its license for cancellation, or that the license has been
I ..- .,I destroyed, if such is the fact;
-I That it consents that process against it in any action upon a
1 I.ItI y or obligation incurred within the Canal Zone prior to the filing
.,1 tI,- certificate of surrender may be served upon the executive secretary
t.I Il, Canal Zone Government;
i' A post office address to which the executive secretary may mail
.''I .' of any process served upon him, which address may be changed
fi .i.,, time to time by filing a certificate entitled "certificate of change of
.lii .l,,s of surrendered foreign corporation" signed and acknowledged
bI, tIe president, a vice president, secretary, assistant secretary, or
I ,-.i i- rer.
11 1 TI, license shall be attached to the certificate of surrender unless the
I.,.. ii,- I, I been lost or destroyed, in which case there shall be attached an
i, l..1, I ..I the president, vice president, secretary, assistant secretary, or
tl,.. -ii r.. that effect.
I. N --.re retirement from doing business in the Canal Zone without filing
. H..: it -it. of surrender of license does not revoke the appointment of any
.~,L~Ii II i he service of process within the Canal Zone.
'LSi: '2. Service of process after revocation or surrender of license.-
f \i the license of a corporation has been revoked or surrendered,
!".-"-....4 tinst the corporation may be served upon the executive secretary
'.4 rl,.- I ,,,al Zone Government in any action upon a liability or obligation
i i.....ii.i .. within the Canal Zone prior to the revocation or the filing of the
.,_ fii.. Itr- .f surrender.
i l.. ....tion 872(b) of this title applies to service of process upon the
...H.* 1'1H i: secretaryy pursuant to this section.
I 1. I I I..- revocation or surrender of a license does not affect any action
li,. lii'.'. it the time.
4940-500
L\I1EI) HL\f~I-FII I.Ir INSURANCE
( Ir i-i' r.
(_- , ,,I , I ..1 .: lr ,li 1 '". '.
I . ....
i,. ... ... I r,,,,,,, _
i,. I l
.... ,,, .. ...t[ii... ,,l. 1
'. I, .. .. .. ,. 1 I ... _- I .
T..r I - - - -
* ..: r.. I .. ... ..: .. 19 63 :
I. V. ,. ,,,,I I ,, r,.: l l
I *
I.. ... ..r .I .I .1.,,,,... ...
T .. r I
"., r[,I .. I,-,,i, -. ] '. .
I ',.: l,, r ,, ,d .. .. :I I '.
A ,i.... i ,,,,I H ,hi,
COMPANY
Number
421
452
873
97
776
0
5
5
5
0
Number
1 $'
1
2 S'
0
2 $
3
50
53
50
3
IFE INSURANCE COMPANY
1 ii'" iY iNumtlber
114
23
137
1
136 .
Amount
$2,908,210.00
899,882.00
$3,808,092.00
692,925.00
$3,115,167.00
$0.00
16,048.91
$16,048.91
16,048.91
$0.00
Amount
45,722,500.00
25,129,500.00
70,852,000.00
214,500.00
70,637,500.00
$4,500.00
229,000.00
$233,500.00
220,500.00
$13,000.00
$279,109.00
5,141.70
$284,250.70
$4,263.76
Amount
$855,500.00
341,563.00
1,197,063.00
1,000.00
'1,196,063.00
0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00
(-.I .i. r-None
r. r i.-i .,,, ., ,,11-. .i.t .l ,,r ,-,r l Z.., ,. lir.ing 1963:
I l i- : ,I ...." .r
\.. ,.,,r ,,, H ih .
I ..t I..
$15,858.53
0.00
- 15,858.5,
$237.88
UNITED EliI\'CLS L
1.11
. i.. ,I ,. .i, ,- i,,*r I I "
i-.1 . ii- .. ... 1i L > .. .... 1.i- :. .
I D ,
L ',h 'r III I I -. ...
l.in l. ,,.i l),..,. A.. .. 1 ..
Policies in
Policies iss
Tol
Ceased to
Policies in
COLONIAL AMERICAN LIFE INSURANCE COMPANY
OnHIINAln Number /
force December 31, 1962 76 $
ued during 1963 692 2,
tal _ _____ 768 $2,'
be in force during 1963_ 89
fnrcr Deeemb.'r 31 1963 679 $2:
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total
Settled during 1963
Unpaid December 31, 1963
GR()UP
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962__
Incurred during 1963.
TotaL _--__- -
Settled during 1963
Unpaid December 31, 1963
Net premiums collected in Canal Zone during 1963:
Life Insurance __
Accident and Health .
Total _
Premium tax paid in Canal Zone -
EQUITY ANNUITY LIFE INSURANCE
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total _
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total_.
Settled during 1963_
Unpaid December 31, 1963_
GnouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance __
Accident and Health
Total_
Premium tax paid in Canal Zone
0
3
3
3
0
Number
3
0
3
2
1
14
20
34
34
0
COMPANY
Number
18
0
18
2
16
rinol l
442,-i'1-1 ni
330,'4 ., i I
773.4- i
499,' P.ini
273.7? 11
.- I
Amomo
$409, .' 111
23.1 II
$432,400.00
415,400.00
$17,000.00
$1,450.00
2,150.00
3,600.00
3,600.00
$0.00
$61,391.08
9,851.36
$71,242.44
$1,068.64
Amount
$18,000.00
0.00
$18,000.00
2,000.00
$16,000.00
0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00
S_ $5,518.97
0.00
$5,518.97
S $82.78
NATIONAL UNION FIRE INSURANCE COMPANY
Fire_
Automobile and motor vehicle
Miscellaneous
Total
Premium tax paid in Canal Zone
Net Losses
Premiums Paid
$14,531.25 80.00
22,586.28 10,570.14
1,524.56 0.00
$38,692.09 810,570.14
$580.38
PANAMA INSURANCE COMPANY
Fire
Workmen's compensation.
Liability other than auto
Surety _
Automobile
Total
Premium tax paid in Canal Zone
Net
Premiums
$2,970.12
64,395.74
10,209.89
14,090.02
4,795.26
$96,461.03
$1,446.92
Losses
Paid
80.00
47,062.74
2,807.65
1,172.56
1,696.50
$52,739.45
ROYAL INDEMNITY COMPANY
Auto property damage
Burglary and theft.
Auto liability (B.I.)
Surety_ _
Total
Premium tax paid in Canal Zone
Net
Premiulms
$0.00
21.75
0.00
41,608.91
$41,630.66
$624.46
Losses
Paid
$1,016.70
0.00
235.00
0.00
$1,251.70
SEABOARD SURETY COMPANY
Surety_ -
Total
Premium tax paid in Canal Zone
Net
Premiums
$1,594.00
$1,594.00
$23.91
Losses
Paid
$0.00
$0.00
TRANSAMERICA INSURANCE COMPANY
(No transactions in Canal Zone during 1963)
TRAVELERS INDEMNITY COMPANY
Surety .
Auto physical damage_ _
Total ._-____ -
Premium tax paid in Canal Zone
Net
Premiums
---- $8,666.92
0.00
--..- $8,666.92
$130.00
Losses
Paid
$0.00
131.14
$131.14
UNITED STATES FIDELITY AND
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 anto_
Fidelity
Surety
Burglary and theft
Glass
Total -
Premium tax paid in Canal Zone_
GUARANTY COMP\ I
Net L..
Premium; F, i..
S $44.21 I n111
27,899.9, 7 7'
5,459.14 .
1,111.6E 4 1,1
-49.5, 2. 2
23,748.5-1 I.
3,190.4- I.-. 1ii
32,415.-I I 1:
17,085.( I i,, r.-
S 18,284.C l 1
1,078.I 2'' I
3,775. 2 i7
16,711.; 7 ,.. -* i .II.I
5,595.3S 7 :.
.... 69.EH ..
$156,520.67 I. 1.111 i. .
$2,347.1 t
AMERICAN INTERNATIONAL LIFE ASSURANCE COIMI'.N1
OF NEW YORK
(No transactions in Canal Zone during 1963)
AMERICAN LIFE INSURANCE COMPANY
ORDINARY
Number
85
2
Policies in force December 31, 1962.
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963.
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963.
Total _
Settled during 1963_
Unpaid December 31, 1963_
87 : .i .1 24 1111
64 -I.4 4 "
23
0
1
0
GRoup-None
Net premiums collected in Canal Zone during 1963:
Life Insurance .
Accident and Health -__ ._. -.
Total
Premium tax paid in Canal Zone .___ _
.4',' 21111II
2' ; ,IIin
SI I I I
-I I I II II I
4 ''
I '..1 I
'0"
14
CANAL ZONE GOVERNMENT
OFFICE OF TIE GOVERNOR
BALBOA, HEIGHTS, C.Z. April 1, 1964.
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 1963.
Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.
The following companies were authorized to transact business in the Canal
Zone during the year 1963:
American International Life Assurance Company of New York-
New York, N.Y.
American Life Insurance Company_ Birmingham, Ala.
American Motorists Insurance Co. Chicago, Ill.
American Surety Company of New York2_ New York, N.Y.
Bankers Life Insurance Company of America - -Dallas, Tex.
Citizen Standard Life Insurance Company3_ Corpus Christi, Tex.
Colonial American Life Insurance Company_ Corpus Christi, Tex.
Colonial Insurance Company'_ Los Angeles, Calif.
Colonial Insurance Company of Panama Panama, R. of P.
Commercial Insurance Company-_---_ Newark, N.J.
Compaiiia General de Seguros, S.A. Panama, R. of P.
Compaiia Interamericana de Scguros, S.A._ Panama, R. of P.
Compafia Internacional de Seguros, S.A._ Panama, R. of P.
Compania Istmefia de Seguros, S.A. Panama, R. of P.
Compania Nacional 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 Company6 Baltimore, Md.
Firemen's Insurance Company of Newark .-Newark, N.J.
CGneral Insurance Company of America Seattle, Wash.
Gibraltar Life Insurance Company of America_ _Dallas, Tex.
Hartford Accident and Indemnity Company_ Hartford, Conn.
Illinois Mid-Continent Life Insurance Company Chicago, Ill.
Insurance Company of North America7 _- Philadelphia, Pa.
FIDELITY AND GUARANTY LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962.
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963
Total _
Settled during 1963
Unpaid December 31, 1963_
GRouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance_ _
Accident and Health
Total
Number
0
59
59
2
57
0
0
0
0
Amount
$0.00
363,020.00
$363,020.00
13,439.00
$349,581.00
$0.00
0.00
$0.00
0.00
$0.00
$2,326.40
0.00
$2,326.40
Premium tax paid in Canal Zone $
THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962_
Incurred during 1963
Total
Settled during 1963
Unpaid December 31, 1963
GnouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance _
Accident and Health -_
Total
Premium tax paid in Canal Zone
Number
1,163
779
S1,942
171
1,771
0
0
34.90
Amount
$5,329,917.00
4,252,000.00
$9,581,917.00
1,004,159.00
$8,577,758.00
$0.00
0.00
80.00
0.00
$0.00
$189,884.51
20.00
$189,904.51
$2,848.57
IB \KII- LIFE INSURANCE COMPANY OF AMERICA
ORDINARY
N
rl'.,i. .: ,,, I,-..:- D,-. .ember 31, 1962_
Iv.h. i .. ....i .l,,rii 1963 __
-I.r ii 1963 --
T .,r ,l .. .
C- i r. ,, I.. i., ,r.. during 1963_
'.,I,. .., .. I,.r.... DE)...: m ber 31, 1963
1 i' .,,I l .. nier 31, 1962_
II.. irr. l i.Ir. 1963
Total
Settled during 1963
Unpaid December 31, 1963
iu ber
Amount
1 85,000.00
1,475 6,464,820.00
1,476 $6,469,820.00
266 1,197,013.00
1,210 $5,272,807.00
0
1
1
1
0
GRouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance- -_---. -
Accident and Health _ _ _
Total_ _ -
Premium tax paid in Canal Zone -
$0.00
1,000.00
$1,000.00
1,000.00
$0.00
$59,912.45
0.00
$59,912.45
$898.69
CITIZENS STANDARD LIFE INSURANCE COMPANY
ORDINARY
Number Amount
r..i,.ies in force December 31, 1962_
I.-.l:ies issued during 1963_ _
Total
C-.,ied to be in force during 1963 -
I'.hI,. ies in force December 31, 1963..
L.- ,es and claims:
Unpaid December 31, 1962- -_
Incurred during 1963-
Total __ ___
Settled during 1963 --___---
Unpaid December 31, 1963 __.
0 $0.00
2,397 7,827,827.00
2,397 $7,827,827.00
993 2,893,447.00
1,404 $4,934,380.00
0 $0.00
2 4,041.00
2 $4,041.00
1 1,541.00
1 $2,500.00
GnouP-None
S. I premiums collected in Canal Zone during 1963:
Life Insurance --___--- ______-
Accident and Health -______
Total _--____-______
'r..inium tax paid in Canal Zone- -
$48,302.98
0.00
$48,302.98
$724.54
Digitized by the Internet Archive
in 2009 with funding from
University of Florida, George A. Smathers Libraries
http://www.archive.org/details/annualreportofin1963cana
COMPANIA INTERAMER[I-F N\ I)F rC(.liHO V S \.
*,.. m *
r't,. tail iit ,
Fire -'* -75
Automobile .
Total '.7 1. I
Premium tax paid in Canal Zone 2'.
COMPANIA INTERNACIO(\ L DI:
Fire
Total
Premium tax paid in Canal Zone
Er.LI: U I( b.. ,\.
COMPARIA ISTMER Di' m.I Ic; I. S
for. Irili
\Xorkmen's compensation I ? o i .
I I I ,
Total
Premniu tax paid in Canal Zone.
COMPANIA NATIONAL DL L',LT.iOs S
(No transactions in C ,.l I Z,... 1lir.. !i. l. ',
CONTINENTAL CAU.' \LI (-(11O'\\
Inland marine
Accident
Accident and health-
Hospital and medical expenses
Group accident and health
Liability other than auto (B.I.)
Auto liability (B.1.).
Auto liability (P.D.)
Auto physical damage
Property damage other than auto
Total
Premium tax paid in Canal Zone.
Fire
Extended coverage
Total
Premium tax paid
. t :
2 1l1111
I', ',. 7 2 i ii.
.' I l i i ,i
4 14 -14 11. 1
21 7' .5 7.
J-. al
CONTINENTAL IN'iULI \( L ( (\l' \N'
t',. 'iill,.'i'g
in Cal Zone 'II
in Canal Zone ---------
I,,,,,.
'.1 "'I
II ii
~111111
I-,"
1'1.11.1
L .
I',h ll
'il1 III
IIlIIII
I~I II I
/-. liii .
GRouP
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963_
Total
Settled during 1963
Unpaid December 31, 1963
Net premiums collected in Canal Zone during 1963:
Life Insurance
Accident and Health
Total -
Premium tax paid in Canal Zone
Number .\,,..i,it
11 $4S7.N "A. I1i
1 .'1 .44-1-1 '.
12 $ .' r, 7 17 II
2 $ ` -' 7 t- I
10 $7 : 1 .-147 tl
17 1 *-\- 1 1 i
70 -' :A; I II II itI
70 I. ,
87 -.7 I.iiiinin
3 *: I 111111 lIII
; ;.. :il 1 I
I 41- n i t .
: l7 '1.1
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,
1963:
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
$13,016,355.20
3,219,323.79
0.00
14,228,422.37
12,321,275.000
1,299,571.38
844,084,947.74
Amount of
damage
by fire
$5,785.56
60.00
0.00
5,107.21
6,460.00'
8,282.00
825,694.77
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 corporation;
under which insurance companies are authorized to do business in th..
Canal Zone.
CANAL ZONE CODE-Title 2, Chapter 61
SEC. 871. Corporation; joint stock conmpany.-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 th,.-
United States or of a foreign country may not do business in the Canal Zon,
I III) I .I l) ( \ L'\ .1n ( C-oIP,\N or NE\ o)I1k
(No transactions in Canal Zone during 1963)
FIDELITY AND DEPOSIT COMPANY
Net
Premiums
" .r. r . .. (cr.) $41.39
S..,I (cr.) $41.39
I'.I.iI.ii, i i. paid in Canal Zone $0.00
FIREMAN'S INSURANCE COMPANY OF NEWARK
Net
Premiums
Ia $... $16,852.41
. I.,....... . ind motor vehicle. 149,774.15
,.. II .... . . .26.29
T..- ,I $166,652.85
I r.....i..1 1 i paid in Canal Zone $2,499.79
Losses
Paid
$0.00
80.00
Losses
Paid
$39.00
64,878.23
0.00
$64,967.23
GENERAL INSURANCE COMPANY OF AMERICA
(No transactions in Canal Zone during 1963)
II.ARTFORD ACCIDENT AND INDEMNITY COMPANY
I ... ,r .1I ,iage other than auto
NI. r . _ _ _
\ ..rli rnii'. mpensation
I.i i,,l... ,F..li.:r than auto
\.r Ii ,hil.. (P.D .)
ir..i- ,i ( B.I.) Zone
T,.l..l - _
!'l,.n i'lm ii I paid in Canal Zone
S .r. i I..
Net
Premiums
$19.60
44.00
59.00
--- 595.88
36.00
73.40
8827.88
$12:42
INSURANCE COMPANY OF NORTH AMERICA
Net
Premiums
$6,148.38
S$6,148.33
)aid in Canal Zone_ $92.23
INTERNATIONAL SERVICE INSURANCE COMPANY
.\,,r.. li Lb.I.r. (B.I.)
.\ r, I',. !:-.n I damage-
,\.' .. plin *.. I1 dam age
L..l..I.iI... ..ler than auto
T.-. ,1-_ ___ _
PIr. ,inm In paid in Canal Zone
Net
Premiums
$10,212.61
5,102.03
32,373.09
45.00
$47,732.73
$715.99
Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
$0.00
Losses
Paid
$0.00
$0.00
Losses
Paid
$2,591.70
5,037.59
7,420.75
0.00
$15,050.04
I INCOLLN NATIONAL LIFE INSURANCE COMPANY
ORDINARY
l'.:.1,.. .. ,,, I. ..... D ecember 31, 1962_ _
I'I,.: :,,. i....,- I. .u.ming 1963 -
F .,! ,I -
- ,.-.1 I.:. I, I, ,rce during 1963
1 ..1.:,... ,1, I.:..... December 31, 1963_ _
i.i II ,,, I...:...nber 31, 1962
Incurred durmg 1963_
Total _
Settled during 1963_
Unpaid December 31, 1963_
GROUP
Policies in force December 31, 1962
Policies issued during 1963
Total -..
Ceased to be in force during 1963_ -
Policies in force December 31, 1963_
Losses and claims:
Unpaid December 31, 1962-- -
Incurred during 1963
Number
1,652
193
1,845
518
1,327
0
1
1
1
0
Number
3
0
3
0
3
0
0
Total _----- .
Settled during 1963 ._
Unpaid December 31, 1963
Net premiums collected in Canal Zone during 1963:
Life Insurance -____---__-
Accident and Health _____ _
Total_---------
Premium tax paid in Canal Zone_ _______ ---
Amount
$9,930,509.00
1,493,863.00
$11,424,372.00
3,002,786.00
$8,421,586.00
$0.00
2,000.00
$2,000.00
2,000.00
$0.00
Amount
$261,588.00
3,686.00
$265,274.00
(3,172.00)
$268,446.00
$0.00
0.00
$0.00
0.00
$0.00
$119,812.60
2,652.42
$122,465.02
$1,836.98
MAY 1P64
ANNUAL R RT
OF
INSURANCE BUSINESS
transacted in the
CANAL ZONE
DURING THE CALENDAR YEAR
1963
Including Laws Concerning Licensing
Of Insurance Companies
____ L~
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
CANAL ZONE GOVERNMENT
ANNUAL
REPORT
OF
INSURANCE BUSINESS
transacted in the
CANAL ZONE
DURING THE CALENDAR YEAR
1963
Including Laws Concerning Licensing
Of Insurance Companies
UIII'.'ER'TrY 'FFI.ORIC
3 1262 04728 2917
'~ ~ J*.
PAN-AMERICAN LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total
Ceased to be in force during 1963_
Policies in force December 31, 1963
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963-
Total_
Settled during 1963
Unpaid December 31, 1963
CnouP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance -
Accident and Health
Total- - -
Premium tax paid in Canal Zone __---------
NiImber Am.'ai
220 $1,49:. 1, n
16 12' IN ma
236 $1,62 7 ,ii
15 15 9;.,
221 $1,4911 112-' i
0
0
- -- 0
0
0
$0.00
0.00
$0.00
$24,447.09
0.00
$24,447.09
$366.71
THE SERVICE LIFE INSURANCE COMPANY
ORDINARY
Policies in force December 31, 1962
Policies issued during 1963
Total_ --- -
Ceased to be in force during 1963
Policies in force December 31, 1963_
Losses and claims:
Unpaid December 31, 1962
Incurred during 1963 ..-
Total
Settled during 1963_
Unpaid December 31, 1963
Number Amount
12 $27,818.00
0 0.00
12 $27,818.00
1 2,000.00
11 $25,818.00
0 $0.00
0 0.00
0 $0.00
0 0.00
0 $0.00
GRoUP-None
Net premiums collected in Canal Zone during 1963:
Life Insurance -
Accident and Health --- ---
Total .
Premium tax paid in Canal Zone _-----
$2,113.05
0.00
$2,113.05
$31.70
hIEC \PITUL.I'ION
'II( lLL.\\L(Ol S COf)MI' l\I1F
;ili., ,.I,'-Ii!, 'I III II.
~, I ..... ii ,i .
I I ... i.. .. . ,I .1 .
- III. .
\ ,I .. .I l ,. .i ,,,l r ,..
I ,,.. I .. I .. .. , ._l
I-... I .. . h
L .I rI. .
A l .. I ,, ,.
.Ii ,,I, ..rh ,r 1, ,, I ,
li I .....ii
I',. ,. ,,, .. -1 t ., I ii . .
.'" IM. .
I I
.111 1
1 '1', .1
2 "."
,' I I ._ .
I 2 7I
I, II 'I II
'I 7. I I '-
II,447 III I
SIt_, ,
2 .
1 1 1 -
I I II
1 ''.-,' '
-lI*.
1,, I '-I II
I I I_
: 1 1 1 '- 4 I
1.11T IN,;.R \%N( E (O\ll'A.Nl
( i I III 1I '.
. ., I i
I h. l l .. l .. _, i l I
.: ,,i. ,, I ) ]-,. r :;I l 'i '.
.\ 'itt '.
-. .1'1 I
75 i>
,i' IlI IIll
I I i'' f
.I .- .
''.' .I ''- I "
II jlllIll
i -'
1 11 11 i 1i
1 -2 :11arliii
any judgment that may be rendered against the company. I,. il..t iMni ,.ii
policies that it may issue.
SEC. 874. Annual stal element and license tax for insurcr, .. .. *f*g',i"i -
An insurance company licensed pursuant to this chapter sl, ll 11 .. l. I 1I.
executive secretary of the Canal Zone Government before \1 I,... I ..t ,. 1.I
year a verified statement showing the business transacted .irl.i i, t. C.11iil
Zone by the company during the previous calendar year and I .1i1, II, .I
copy of its annual report to an authorized official of the St f ... 1,...... 111
which the company is organized. Upon a showing of goc.l .....i.. rl......t.
the executive secretary may extend the time for filing th,- .r.,t,:,.,...l t...,
period not exceeding two months after March 1.
An insurance company licensed pursuant to this chapter 'lii1i 1':I..l.
March 1 of each year, in lieu of all other taxes except the an~I il I I .'tI, l. .1I
for by section 876 of this title, a license tax equal to 1' I.-" '.-it it ir, ,.i
premium receipts in the Canal Zone for the proceeding cal:r .... 1 ..c.,,
SEC. 875. Issuance of license.-Upon compliance by a ..i I|..'.ii,. l.
the conditions prescribed by sections 872-874 of this title, a II ,! rl., (,, ......,
is satisfied that the business desired to be transacted is prop', !.. i i ir. ...i..
permissible under the laws of the Canal Zone, and not in .:i ]li.:l tl. !,
policy of administering the Canal Zone as an adjunct of tih P.,.i.... i I.l
he may issue a license to do business in the Canal Zone.
SEC. 876. Continuance after first license period.-The l, i'r .f. ...r. I-
tion to continue to do business for the calendar year, arn .I Ih-i 'I.:.::
calendar years, after the calendar year during which th .i., .. i
was issued, shall be contingent upon: (1) Compliance wul, II.. ... ,i.,',
of this chapter applicable to corporations licensed under it
(2) Payment of a license fee of $10, payable in advan.r ..11 1.111',1. I
of each year; and
(3) Designation of a new process agent before March 1. II iI- ':'
agent previously designated has ceased during a precediI.: .lI,.II 1 I. I
to reside within the Canal Zone.
SEC. 877. Revocation of license.--The Governor may .. -... Il.i,,,I
issued pursuant to this chapter if, upon examination, he is iiri..h.I rl. ri t..
operations of the corporation are conducted in an illegal ii...II.' .."i 11 .1
manner contrary to public policy or to the policy of admin:i;.,- ,i iI.- (I ,,i i
Zone as an adjunct of the Panama Canal.
SEC. 878. Loss of benefit of statute of limitations.-C !..!..,t..i,,, .i..,,' .
business in the Canal Zone which fail to comply with thi' hl .- l,- I r.it
entitled to the benefit of the laws of the Canal Zone lim:rnii4 H1r. ril,, I.1-
the commencement of civil actions.
SEC. 879. Penalties for violation; validity of contracts.-i .\ ......
tion which does business in the Canal Zone without haviti, .... r l.l~ it l
this chapter shall be fined not more than $500.
(b) Whoever acts as an officer of, or agent for, a ce.t'... Ii.,l. hi I,...,I
has not complied with this chapter, shall be fined not min 11i..i i liit1 1.
imprisoned in jail not more than 30 days, or both.
THE LIBERTY MUTUAL INSURANCE (-)IF \\1
1 ,. ll l ll
Health and accident 3.. I
Croup accident and health ',.1111
Workmen's compensation I! '. .
Auto physical damage I iIl
Total _.. ____ ,
Premium tax paid in Canal Zone_ _- _____3."
MARYLAND CASUALTY COMFPAX
Hospital
Accident _
Health _____
Croup accident and health _
Auto liability _
Liability other than auto_
Fidelity
Surety_
Class_
Burglary and theft__
Auto property damage
Inland marine_ ____-_
Property damage other than auto
Workmen's compensation_ _
Automobile physical damage -
Fire _
Extended coverage -- .
Total_
Premium tax paid in Canal Zone.
.J I. r Lt,
]',,. 0,,i ,,. '. ,i
..3 5'., -. d 4"
- ._- _ '1
_ _ _ 1111i
7 '1 11
* 7 iii,
I l I lll
II .1 l 7 11 ,
I 1_ l I 4
-- ,II ".-. I 4-1 %
1 --' 2 .-. ,-".
_:.,' 1 7 "'
MUTUAL OF OMAHA INSURANCE CO(MI'N\
Croup accident and health
Accident
Health and accident_.
Hospital and medical
Total_ -
Premium tax paid in Canal Zone.
'i i ,. I Il i'Il
._ _' I I ". 4 7 .
~._-. 'i .: n
1 1.- - - -'l'.". 4'
'17 1, ,,
1... *.
.I. I I I
1 ,, 2
7,'' -.772"
NATIONAL SURETY CORPORATION
(No transactions in Canal Zone during I'l.',
L....
1, .11
'. i I I I
"'' "'
International Service Insurance Company- Fort Worti 1- .
Liberty Mutual Insurance Company .. Boston. \ I,
Lincoln National Life Insurance Company Fort Wayn... iIl
Maryland Casualty Company Baltimor.. \1.1
Mutual of Omaha Insurance Company Omaha N._~1
National Surety Corporation_ New Yorl. N Y
National Union Fire Insurance Company_ _Pittsbur;h 1 '
Panama Insurance Company Inc. Panama, I. ...! I'
Pan-American Life Insurance Company New Orlea... Li
Royal Indemnity Company_ New Yorl, N
Seaboard Surety Company _New York, N.Y.
Service Life Insurance Company Fort Worth, Tex.
Transamerica Insurance Companys 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.
1 American International Life Assurance Company of New York licensed in the Canal Zone
August 5, 1963.
2 American Surety Company of New York merged with Transamerica Insurance Company
effective December 31, 1963.
3 Citizens Standard Life Insurance Company licensed in the Canal Zone March 27, 1963.
4 Colonial Insurance Company (of California) discontinued doing business in the Canal Zone
effective July 26, 1963.
5 Companiia Nacional de Segnros, S.A. discontinued doing business in the Canal Zone effective
October 1, 1963.
6 Fidelity and Guaranty Life Insurance Company licensed in the Canal Zone March 6, 1963.
7 Insurance Company of North America licensed in the Canal Zone April 22, 1963.
8 Transamerica Insurance Company licensed in the Canal Zone December 12, 1963.
|
|
PAGE 1
CZ. \ -f^-^ y CANAL ZONE GOVERNMENT ANNUAL R OF INSURANCE BUSINESS transacted in the CANAL ZONE DURING THE CALENDAR YEAR 1963 Including Laws Concerning Licensing Of Insurance Companies
PAGE 3
CANAL ZONE GOVERNMENT ANNUAL REPORT OF INSURANCE BUSINESS transacted in the CANAL ZONE DURING THE CALENDAR YEAR 1963 Including Laws Concerning Licensing Of Insurance Companies
PAGE 4
Digitized by the Internet Archive in 2009 with funding from University of Florida, George A. Smathers Libraries http://www.archive.org/details/annualreportofin1963cana
PAGE 5
CANAL ZONE GOVERNMENT OFFICE OF THE GOVERNOR Balboa, Heights, C.Z. April 1, 1964. GovEHNOR 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 1963. Respectfully, Paul M. Runnestrand, Executive Secretary. The following companies were authorized to transact business in the Canal Zone during the year 1963: American International Life Assurance Company of New York'— New York, N.Y. American Life Insurance Company Birmingham, Ala. American Motorists Insurance Co Chicago, 111. American Surety Company of New York^ New York, N.Y. Bankers Life Insurance Company of America Dallas, Tex. Citizen Standard Life Insurance Company^ Corpus Christi, Tex. Colonial American Life Insurance Company Corpus Christi, Tex. Colonial Insurance Company* Los Angeles, Calif. Colonial Insurance Company of Panama Panama, R. of P. Commercial Insurance Company Newark, N.J. Compania General 6.2 Seguros, S.A Panama, R. of P. Compaiiia Interamericana de Seguros, S.A._ Panama, R. of P. Compania Internacional de Seguros, S.A ^Panama, R. of P. Compania Istmena de Seguros, S.A _ .Panama, R. of P. Compaiiia Nacional de Seguros, S.A.^ Panama, R. of P. Continental Casualty Company Chicago, 111. Continental Insurance Company .. _New York, N.Y. Equity Annuity Life Insurance Company .Washington, D.C. Fidelity and Casualty Company of New York New York, N.Y. Fidelity and Deposit Company Baltimore, Md. Fidelity and Guaranty Life Insurance Company^ Baltimore, Md. Firemen's Insurance Company of Newark _ Newark, N.J. General Insurance Company of America Seattle, Wash. Gibraltar Life Insurance Company of America. Dallas, Tex. Hartford Accident and Indemnity Company . Hartford, Conn. Illinois Mid-Continent Life Insurance Company Chicago, 111. Insurance Company of North America'^ -Philadelphia, Pa.
PAGE 6
International Ser\'ice 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. Panama Insurance Company Inc _ Panama, R. of P. Pan-American Life Insurance Company New Orleans, La. 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 YorkNew York, N.Y. 1 American International Life Assurance Company of New York licensed in the Canal Zone August 5, 1963. 2 American Surety Company of New York merged with Transamerica Insurance Company effective December 31, 1963. 3 Citizens Standard Life Insurance Company licensed in the Canal Zone March 27, 1963. 4 Colonial Insurance Company (of California) discontinued doing business in the Canal Zone effective July 26, 1963. 5 Compafiia Nacional de Seguros, S.A. discontinued doing bvisiness in the Canal Zone effective October 1, 1963. 6 Fidelity and Guaranty Life Insurance Company licensed in the Canal Zone March 6, 1963. 7 Insurance Company of North America licensed in the Canal Zone April 22, 1963. 8 Transamerica Insurance Company licensed in the Canal Zone December 12, 1963.
PAGE 7
AMERICAN MOTORISTS INSURANCE COMPANY (No transactions in Canal Zone during 1963) AMERICAN SURETY COMPANY OF NEW YORK Net Losses Premiums Paid Property damage other than auto $1,692.84 $0.00 Liability other than auto (B.l.) 1,996.68 0.00 Fidelity 661.26 0.00 Surety 216.00 0.00 Burglary and theft 91.83 0.00 TotaL $4,658.61 $0.00 Premium tax paid in Canal Zone $69.88 COLONIAL INSURANCE COMPANY (No transactions in Canal Zone during 1963) COLONIAL INSURANCE COMPANY OF PANAMA Net Losses Premiums Paid Automobile and motor vehicle $109,478.10 $26,005.04 Total $109,478.10 $26,005.04 Premium tax paid in Canal Zone $1,642.17 COMMERCIAL INSURANCE COMPANY Net Losses Premiums Paid Auto liability $11,783.97 $607.18 Burglary and theft 833.76 137.25 Workmen's compensation 109,022.01 40,867.16 Liability other than auto 10,175.03 235.74 Accident 197.25 0.00 TotaL $132,012.02 $41,847.33 Premium tax paid in Canal Zone $1,980.18 COMPANIA GENERAL DE SEGUROS, S.A. Net Losses Premiums Paid Fire_ $15.00 $0.00 Auto comprehensive 75.56 0.00 Auto collision 318.98 0.00 Auto liability (B.I.) 398.31 0.00 Hospital and medical 39.11 0.00 Auto property damage 290.95 0.00 Burglary and theft 87.44 0.00 Automobile and motor vehicle 80.24 0.00 Total $1,305.59 $0.00 Premium tax paid in Canal Zone $19.58
PAGE 8
COMPAINJIA INTERAMERICANA DE SEGUROS, S.A. Fire Automobile_ _ TotalPremium tax paid in Canal ZoneCOMPANIA INTERNACIONAL DE SEGUROS, S. A. Fire Total _ _ $1,380.28 Premium tax paid in Canal Zone $20.70 Net Premiums
PAGE 9
FIDELITY AND CASUALTY COMPANY OF NEW YORK (No transactions in Canal Zone during 1963) FIDELITY AND DEPOSIT COMPANY Net Losses rremiums Paid Surety . . (cr.) $4L39 $0.00 Total ( cr. ) $41 .39 $0.00 Premium tax paid in Canal Zone_ $0.00 FIREMAN'S INSURANCE COMPANY OF NEWARK 'Net Losses Premiums Paid Fixe $16,852.41 $89.00 Automobile and motor vehicle ^ 149,774.15 64,878.23 Miscellaneous 26.29 0.00 Total ^ $166,652.85 $64,967.23 Premium tax paid in Canal Zone $2,499.79 GENERAL INSURANCE COMPANY OF AMERICA (No transactions in Canal Zone durini^ 1963) HARTFORD ACCIDENT AND INDEMNITY COMPANY Net Premiums Property damage other than auto $19.60 Surety . 44.00 Workmen's compensation __. ^ 59.00 Liability other than auto 595.88 Auto liability (P.D.) 36.00 Auto liability ( B.I. ) 73.40 Total $827.88 Premium tax paid in Canal Zone $12.42 INSURANCE COMPANY OF NORTH AMERICA Net Premiums Surety $6,148.38 Total $6,148.38 Premium tax paid in Canal Zone $92.23 INTERNATIONAL SERVICE INSURANCE COMPANY Net Premiums Auto liability (B.I.) $10,212.61 Auto property damage 5,102.03 Auto physical damage 32,373.09 Liability other than auto 45.00 Total $47,732.73 Premium tax paid in Canal Zone $71 5.99 Losses Paid $0.00 0.00 0.00 0.00 0.00 0.00 $0.00 Losses Paid $0.00 $0.00 Losses Paid $2,591.70 5,037.59 7,420.75 0.00 $15,050.04
PAGE 10
THE LIBERTY MUTUAL INSURANCE COMPANY Net Health and accident _ Group accident and healths \\'orkmen's compensation _ Auto physical damage -_ Total Premium tax paid in Canal Zone. Losses Premiums
PAGE 11
NATIONAL UNION FIRE INSURANCE COMPANY Islet Losses Premiums Paid Fire $14,581.25 $0.00 Automobile and motor vehicle 22,586.28 10,570.14 Miscellaneous 1,524.56 0.00 Total $38,692.09 $10,570.14 Premium tax paid in Canal Zone $580.38 PANAMA INSURANCE COMPANY Net Losses Premiums Paid Fire $2,970.12 $0.00 Workmen's compensation 64,395.74 47,062.74 Liability other than auto 10,209.89 2,807.65 Surety __ 14,090.02 1,172.56 Automobile _ 4,795.26 1,696.50 Total $96,461.03 $52,739.45 Premium ta.x paid in Canal Zone $1,446.92 ROYAL INDEMNITY COMPANY Net Losses Premiums Paid Auto property damage _ $0.00 $1,016.70 Burglary and theft 21.75 0.00 Auto liability ( B.I. ) . 0.00 235.00 Surety ^ 41,608.91 0.00 Total $41,630.66 $1,251.70 Premium tax paid in Canal Zone $624.46 SEABOARD SURETY COMPANY Net Premiums Surety $1,594.00 Total $1,594.00 Premium tax paid in Canal Zone $23.91 Losses Paid $0.00 $0.00 TRANSAMERICA INSURANCE COMPANY (No transactions in Canal Zone during 1963) TRAVELERS INDEMNITY COMPANY
PAGE 12
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.L) Auto property damage _._ _. Auto physical damage ^ Property damage other than auto Fidelity Surety Burglary and theft Glass Total Premium tax paid in Canal Zone_ . . . $2,347.81 Net
PAGE 13
BANKERS LIFE INSURANCE COMPANY OF AMERICA Ordinary Number Amount Policies in force December 31, 1962 1 $5,000.00 Policies issued during 1963 1,475 6,464,820.00 Total . 1,476 $6,469,820.00 Ceased to be in force during 1963 266 1,197,013.00 Policies in force December 31, 1963 1,210 $5,272,807.00 Losses and claims: Unpaid December 31, 1962 . $0.00 Incurred during 1963 1 1,000.00 Total 1 $1,000.00 Settled during 1963 ... 1 1,000.00 Unpaid December 31, 1963 $0.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance $59,912.45 Accident and Health . 0.00 Total ' $59,912.45 Premium tax paid in Canal Zone „ $898.69 CITIZENS STANDARD LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1962 $0.00 Policies issued during 1963 . _ 2,397 7,827,827.00 Total _ . . 2,397 $7,827,827.00 Ceased to be in force during 1963 _ _ 993 2,893,447.00 Policies in force December 31, 1963.. _ ._ 1,404 $4,934,380.00 Losses and claims: Unpaid December 31, 1962 . $0.00 Incurred during 1963 _ .. 2 4,041.00 Total 2 $4,041.00 Settled during 1963 1 1,541.00 Unpaid December 31, 1963 1 $2,500.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance $48,302.98 Accident and Health . _ 0.00 Total _ $48,302.98 Premium tax paid in Canal Zone ._ $724.54
PAGE 14
692 "768 89 $442,494.00 2,330,943.00 $2,773,437.00 499,678.00 "679 $2,273,759.00 $0.00 437.00 $437.00 437.00 COLONIAL AMERICAN LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1962 76 Policies issued during 1963 Total Ceased to be in force during 1963 Policies in force December 31, 1963 Losses and claims: Unpaid December 31, 1962 Incurred during 1963 3 Total 3 Settled during 1963 3 Unpaid December 31, 1963 Group Number Policies in force December 31, 1962 3 Policies issued during 1963 Total . 3 Ceased to be in force during 1963 _ ^ 2 Policies in force December 31, 1963 1 Losses and claims: Unpaid December 31, 1962 Incurred during 1963 Total Settled during 1963 Unpaid December 31, 1963 Net premiums collected in Canal Zone during 1963: Life Insurance Accident and Health Total Premium tax paid in Canal Zone 14 20 34 ~~0 EQUITY ANNUITY LIFE INSURANCE COMPANY Ordinary Number Policies in force December 31, 1962 18 Policies issued during 1963 Total ^ 18 ~ Ceased to be in force during 1963. ^ 2 Policies in force December 31, 1963 16 Losses and claims: Unpaid December 31, 1962 Incurred during 1963 _ — Total Settled during 1963 Unpaid December 31, 1963 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance Accident and Health Total ~ Premium tax paid in Canal Zone $0.00 Amount $409,350.00 23,050.00 $432,400.00 415,400.00 $17,000.00 $1,450.00 2,150.00 $3,600.00 3,600.00 $0.00 $61,391.08 9,851.36 $71,242.44 $1,068.64 Amount $18,000.00 0.00 $18,000.00 2,000.00 $16,000.00 $0.00 0.00 $0.00 0.00 $0.00 $5,518.97 0.00 $5,518.97 $82.78 10
PAGE 15
FIDELITY AND GUARANTY LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1962 . $0.00 Policies issued during 1963 59 363,020.00 Total 59 $363,020.00 Ceased to be in force during 1963 2 13,439.00 Policies in force December 31, 1963 : 57 $349,581.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963 0.00 Total$0.00 Settled during 1963 0.00 Unpaid December 31, 1963 $0.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance $2,326.40 Accident and Health 0.00 Total $2,326.40 Premium tax paid in Canal Zone $34.90 THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA Ordinary Number Amount Policies in force December 31, 1962 1,163 $5,329,917.00 Policies issued during 1963 779 4,252,000.00 Total 1,942 $9,581,917.00 Ceased to be in force during 1963 171 1,004,159.00 Policies in force December 31, 1963 1,771 $8,577,758.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963 0.00 Total $0.00 Settled during 1963 0.00 Unpaid December 31, 1963 $0.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance. $189,884.51 Accident and Health 20.00 Total $189,904.51 Premium tax paid in Canal Zone ._ __$2,848.57 11
PAGE 16
ILLINOIS MID-CONTINENT LIFE INSURANCE COMPANY Ordinary Policies in force December 31, 1962 Policies issued during 1963 Total Ceased to be in force during 1963 _ _ _ . . Policies in force December 31, 1963 Losses and claims: Unpaid December 31, 1962 . . _ Incurred during 1963 .. Total Settled during 1963 Unpaid December 31, 1963 $0.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance . $207.00 Accident and Health 0.00 Number 1
PAGE 17
LINCOLN NATIONAL LIFE INSURANCE COMPANY Ordinary Policies in force December 31, 1962 _ Policies issued during 1963 Total Ceased to be in force during 1963 _ _ Policies in force December 31, 1963 Losses and claims: Unpaid December 31, 1962 Incurred during 1963 Total Settled during 1963 Unpaid December 31, 1963 Number Amount _ 1,652 $9,930,509.00 193 1,493,863.00 . 1,845 $11,424,372.00 518 3,002,786.00 _ 1,327 $8,421,586.00 Group Policies in force December 31, 1962 Policies issued during 1963 Total Ceased to be in force during 1963 Policies in force December 31, 1963 Losses and claims: Unpaid December 31, 1962 -. Incurred during 1963 Total -... . Settled during 1963 _Unpaid December 31, 1963 _ . _ Net premiums collected in Canal Zone during 1963: Life Insurance . Accident and Health . Total Premium tax paid in Canal Zone. $0.00 2,000.00 $2,000.00 2,000.00 $0.00 Nu77iber
PAGE 18
PAN-AMERICAN LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1962 220 $1,493,875.00 Policies issued during 1963 16 129,000.00 Total 236 $1,622,875.00 Ceased to be in force during 1963 15 132,863.00 Policies in force December 31, 1963 221 $1,490,012.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963 0.00 Total $0.00 Settled during 1963 0.00 Unpaid December 31, 1963 $0.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance $24,447.09 Accident and Healtb 0.00 Total $24,447.09 Premium tax paid in Canal Zone $366.71 THE SERVICE LIFE INSURANCE COMPANY Ordinary Number Policies in force December 31, 1962 12 Policies issued during 1963 Total 12 Ceased to be in force during 1963 1 Policies in force December 31, 1963 11 Losses and claims: Unpaid December 31, 1962 Incurred during 1963 Total Setried during 1963 Unpaid December 31, 1963 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance Accident and Health Total ^_____ Premium tax paid in Canal Zone Amount $27,818.00 0.00 $27,818.00 2,000.00 $25,818.00 $0.00 0.00 $0.00 0.00 $0.00 $2,113.05 0.00 $2,113.05 $31.70 14
PAGE 19
UNITED BENEFIT LIFE INSURANCE COMPANY Ordinary Number A7nount Policies in force December 31, 1962 421 $2,908,21().()() Policies issued durins 1963, _. ,^_ 452 899,882.00 Total 873 $3,808,092.00 Ceased to be in force during 1963 97 692,925.00 Policies in force December 31, 1963 776 $3,115,167.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963 5 16,048.91 Total " ""5 $16,048.91 Settled during 1963 ^ , 5 16,048.91 Unpaid December 31, 1963 $0.00 Group Nimiber Amount Policies in force December 31, 1962 1 $45,722,500.00 Policies issued during 1963 1 25,129,500.00 Total 2 $70,852,000.00 Ceased to be in force daring 1963 _ 214,500.00 Policies in force December 31, 1963 2 $70,637,500.00 Losses and claims: Unpaid December 31, 1962 3 $4,500.00 Incurred during 1963 50 229,000.00 Total 53 $233,500.00 Settled during 1963 50 220,500.00 Unpaid December 31, 1963 \ _ _ 3 $13,000.00 Net premiums collected in Canal Zone during 1963: Life Insurance $279,109.00 Accident and Health 5,141.70 Total $284,250.70 Premium tax paid in Canal Zone $4,263.76 UNITED SERVICES LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1962 114 $855,500.00 Policies issued during 1963 -.-... 23 341,563.00 Total 137 $1,197,063.00 Ceased to be in force during 1963 _ _ 1 1,000.00 Policies in force December 31, 1963 . 136 $1,196,063.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963, 0.00 Total $0.00 Settled during 1963 0.00 Unpaid December 31, 1963 $0.00 Group— None Net premiums collected in Canal Zone during 1963: Life Insurance . _ „ _ , $15,858.53 Accident and Health 0.00 Total $15,858.53 Premium tax paid in Canal Zone -. $237.88 15
PAGE 20
UNITED STATES LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1962 47 $588,903.00 Policies issued during 1963 5 121,313.00 Total 52 $710,216.00 Ceased to be in force during 1963 1 15,324.00 Policies in force December 31, 1963 51 $694,892.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963 0.00 Total $0.00 Settled during 1963 0.00 Unpaid December 31, 1963 $0.00 Group Number Amount Policies in force December 31, 1962 4 $2,324,593.00 Policies issued during 1963 124,108.00 Total 4 $2,448,701.00 Ceased to be in force during 1963 0.00 Policies in force December 31, 1963 4 $2,448,701.00 Losses and claims: Unpaid December 31, 1962 $0.00 Incurred during 1963 0.00 Total $0.00 Settled during 1963 OOO Unpaid December 31, 1963 $0.00 Net premiums collected in Canal Zone during 1963: Life Insurance $17,262.54 Accident and Health 12,735.05 Total $29,997.59 Premium tax paid in Canal Zone $449.96 16
PAGE 21
RECAPITULATION MISCELLANEOUS COMPANIES Net Losses Premiums Paid Accident $2,210.08 S324.06 Automobile and motor vehicle 289,502.62 103,149.91 Auto comprehensive 75.56 0.00 Auto collision 28,218.88 7,959.79 Auto liability (B.L) 79,562.35 16,752.54 Auto property damage 39,134.36 38,434.1 1 Auto physical damage 85,983.96 31,034.27 Burglary and theft 16,708.51 2,318.44 Extended coverage 783.42 0.00 Fidelity 6,694.90 2,373.69 Fire 52,023.39 247.20 Glass 214.25 24.00 Group accident and health 15,011.26 8,686.46 Health and accident 96,001.29 42,135.01 Hospital and medical 1,048,140.20 695,175.49 Inland marine 3,762.47 256.50 Liabihty other than auto 34,138.64 3,228.40 Miscellaneous 1,550.85 0.00 Property damage other than auto 6,127.70 2,057.15 Surety 141,722.40 922.56 Workmen's compensation 259,879.96 116,832.0 6 Total $2,207,447.05 $1,071,911.64 Premium taxes paid in Canal Zone $33,112.35 LIFE INSURANCE COMPANIES Ordinary Policies in force December 31, 1962 _ Policies issued during 1963 _ _ Total Ceased to be in force during 1963 _ ^ . . Policies in force December 31, 1963 7,683 Losses and claims: Unpaid December 31, 1962 Incurred during 1963 Total Settled during 1963 Unpaid December 31, 1963 17 Number 3,809 6,094
PAGE 22
Number
PAGE 23
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 copv, duly certified b)' 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 bv an authorized officer of the corporation stating the amoimt 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 piocess 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 Covernment, 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 ciurent marketable securities, which shall be held in trust by the executive secretary for the account of the company, to satisfy 19
PAGE 24
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 therefor, 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 IVs percent of its net premium receipts in the Canal Zone for the preceeding 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 corporation 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 corporation 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. 20
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(c) Every contract made by or on behalf of such a corporation affecting the habihty 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 sewed 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. 4940—500 21
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