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CAZNAL GOVERNMENTT



ANNUAL REPORT
OF

INSUANCE B

transacted i eOCT0-

CANAL Z i
DURIG THE CALENDAR YEAR

1969


cLIhIdmLg
|tvueCmane





CANAL ZONE GOVERNMENT


ANNUAL REPORT
OF

INSURANCE BUSINESS


transacted in the

CANAL ZONE


DURING


THE CALENDAR


YEAR


1969


Including Laws Concerning Licensing
Of Insurance Companies





















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


http://www.archive.org/details/annualreportofin1969cana










CANAL ZONE GOVERNMENT


OFFICE OF THE GOVERNOR


BALBOA HEIGHTS, June 1, 1970.

GOVERNOR OF THE CANAL ZONE,
Balboa Heights, C.Z.

Sir: There is submitted herewith a report of insurance business transacted
in the Canal Zone during the calendar year 1969.

Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.


The following companies were authorized to transact business in the Canal
Zone during the year 1969:
Aetna Casualty and Surety Company ----------------Hartford, Conn.
American-Amicable Life Insurance Company ---------Birmingham, Ala.
American Capitol Insurance Company ----------------Houston, Tex.
American Employers' Insurance Company -------------Boston, Mass.
American Home Assurance Company ----------------New York, N.Y.
American International Life Assurance Company of New York-
New York, N.Y.
American Motorists Insurance Co. --------------------Chicago, Ill.
Bankers Life Insurance Company of America- ------------Dallas, Tex.
Beneficial National Life Insurance Company1- ---------New York, N.Y.
Citizens Standard Life Insurance Company --------Corpus Christi, Tex.
Colonial Insurance Company of Panama ------------- Panama, R. of P.
Commercial Insurance Company ------------------- Newark, N.J.
Compaflia General de Seguros, S.A._ -----------------Panama, R. of P.
Compafiia Interamericana de Seguros, S.A. ----------Panama, R. of P.
Compafnia Internacional de Seguros, S.A. ------------Panama, R. of P.
Compafila Istmefia de Seguros, S.A. -----------------Panama, R. of P.
1 Beneficial National Life Insurance Company licensed in the Canal Zone June 23, 1969.




Compafnia Nacional de Seguros, S.A. -------------- Panama, R. of P.
Continental Casualty Company ---------------------- Chicago, Ill.
Continental Insurance Company- --------------- New York, N.Y.
Equitable Life Assurance Society of the United States2 --- New York, N.Y.
Executive Fund Life Insurance Co. ---------O----------maha, Nebr.
Fidelity and Casualty Company of New York ----------New York, N.Y.
Fidelity and Deposit Company --------------------Baltimore, Md.
Fidelity and Guaranty Life Insurance Company --------Baltimore, Md.
Firemen's Insurance Company of Newark --------------Newark, N.J.
General Insurance Company of America ---------------_Seattle, Wash.
Gibraltar Life Insurance Company of America ------------Dallas, Tex.
Great American Insurance Company ----------------_ New York, N.Y.
Hartford Accident and Indemnity Company -----------Hartford, Conn.
Insurance Company of North America- -------------Philadelphia, Pa.
International Service Insurance Company ------- -Fort Worth, Tex.
Jackson National Life Insurance Company' ------------Jackson, Mich.
Liberty Mutual Insurance Company ------------------ Boston, Mass.
Lincoln National Life Insurance Company -----------Fort Wayne, Ind.
Maryland Casualty Company ----------------------Baltimore, Md.
Mutual of Omaha Insurance Company _----------------Omaha, Nebr.
National Surety Corporation ----------------------New York, N.Y.
National Union Fire Insurance Company --------------_Pittsburgh, Pa.
National Western Life Insurance Company ------------- Denver, Colo.
Panama Insurance Company, Inc. ------------------ Panama, R. of P.
Pan-American Life Insurance Company -------------New Orleans, La.
Peninsular Life Insurance Company ----------------Jacksonville, Fla.
Reliance Insurance Company- -------------- Philadelphia, Pa.
Royal Indemnity Company _---------------------- New York, N.Y.
Seaboard Surety Company -----------------------New York, N.Y.
Transamerica Insurance Company --------------San Francisco, Calif.
Travelers Indemnity Company -------------------- Hartford, Conn.
United Benefit Life Insurance Company -------------- Omaha, Nebr.
United Services Life Insurance Co. -----------------Washington, D.C.
United States Fidelity and Guaranty Company- ---------Baltimore, Md.
United States Life Insurance Company in the City of New York-
New York, N.Y.
Wabash Life Insurance Co. --------------------Indianapolis, Ind.
World Service Life Insurance Company- --------_- Forth Worth, Tex.
2 Equitable Life Assurance Society of the United States licensed in the Canal Zone, March
24, 1969.
3 Jackson NaLional Life Insurance Company licensed in the Canal Zone July 1, 1969.











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



AMERICAN EMPLOYERS' INSURANCE COMPANY


Workmen's compensation - -
Liability other than auto (B.I.) _____
Property damage other than auto -
Auto Liability (B.I.) -
Auto property damage -.. ......
Auto physical damage
Total --
Premium tax paid in Canal Zone_


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


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



COLONIAL INSURANCE COMPANY OF PANAMA
Net
Premiums
Liability other than auto ....- $317.00
Auto liability (B.I.) 49,965.49
Auto property damage --------------------- 29,815.49
Automobile and motor vehicle 17,884.29
Auto comprehensive_ 7,267.18
Auto collision --------------------- 34,777.93
Fire -------------------------------- 718.47
Burglary and theft 170.00
Miscellaneous- 10.00
Total -- ----------------------- $140,925.85


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


Premium tax paid in Canal Zone ---_ -2,11


Net
Premiums
$1.32
42.38
0.99
3.96
2.64
3.63
$54.92
$0.82


Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
$0.00


$2,113.89





COMMERCIAL INSURANCE COMPANY
Net
Premiums
Automobile and motor vehicle- ------------- $237.00
Workmen's compensation ------------------ 80,824.80
Miscellaneous --- ----------------------- 19,507.73
Total --------------------------- $100,569.53
Premium tax paid in Canal Zone- ------------ $1,508.54

COMPAFIIA GENERAL DE SEGUROS, S.A.
Net
Premiums
Fire _----------------------- $50.00
Surety ----- -----------------------2,798.24
Liability other than auto ----------------------- 282.57
Workmen's compensation -- ------------ 17,363.77
Auto comprehensive ---- -----------220.44
Auto liability (B.I.) ----------------447.55
Auto collision -------------------------497.67
Auto property damage --------------------327.64
Extended coverage ----------------------82.69
Hospital and medical- --- --- -------- 55.45
Total ------------------------$22,126.02
Premium tax paid in Canal Zone- ------------ $331.89

COMPARIA INTERAMERICANA DE SEGUROS, S.A.
Net
Premiums
Auto liability (B.I.) --------------------- $45.81
Workmen's compensation ------------------5,605.04
Fire -- -- --------------------- 5,859.15
Automobile --------------------------46,341.50
Total -- ---------------------- $57,851.50
Premium tax paid in Canal Zone- ------------ $867.77

COMPAIfIA INTERNATIONAL DE SEGUROS, S.A.
Net
Premiums
Miscellaneous _----- -- -------- $3,306.36
Total -------------------------- $3,306.36
Premium tax paid in Canal Zone ---- -------------- $49.60

COMPAmIA ISTME14A DE SEGUROS, S.A.
(No transactions in Canal Zone during 1969)
COMPA1'IA NATIONAL DE SEGUROS, S.A.
Net
Premiums
Workmen's compensation ----------------$52,511.58
Total --------------------------- $52.511.58
Premium tax paid in Canal Zone -------------- $787.67
*Complete information unavailable.


Losses
Paid
$226.50
44,768.80
3,430.98
$48,426.28



Losses
Paid
$0.00
0.00
0.00
2,852.17
0.00
0.00
0.00
0.00
0.00
0.00
$2,852.17



Losses
Paid
$0.00
3,572.00
0.00
6,244.21
$9,816.21



Losses
Paid
$0.00
$0.00





Losses
Paid
$0.00*
$0.00




CONTINENTAL CASUALTY COMPANY
Net Losses
Premiums Paid
Accident and health -_----------------- $1,444.3 $Soi0.00
Group accident and health ---- ------------------2,458.31 3,984.37
Inland marine ------------------------- 7.70 30.00
Auto liability (B.I.) ---------------------- (Cr.) 81.57 0.00
Auto property damage --------------------2.60 528.75
Auto physical damage --------------------66.16 424.08
Total ----------------------- $3,898.13 $5,777.20
Premium tax paid in Canal Zone- ------------ $58.47
CONTINENTAL INSURANCE COMPANY
Net Losses
Premiums Paid
Fire ------------------------------$100.00 $0.00
Auto liability (B.I.)------------------- (Cr.) 2,117.00 0.00
Auto property damage- ------------------- (Cr.) 708.00 0.00
Auto physical damage --------------------(Cr.) 1,496.00 0.00
Surety ----------------------100.00 0.00
Miscellaneous ------------------------ 0.00 19.72
Total ---------------------- (Cr.) $4,121.00 $19.72
Premium tax paid in Canal Zone ------------- $0.00
FIDELITY AND CASUALTY COMPANY OF NEW YORK
Net Losses
Premiums Paid
Surety ------------------------------ $20.00 $0.00
Miscellaneous ------------------------- 80.00 0.00
Workmen's compensation- ------------------ 0.00 123.33
Total ---------------------- $100.00 $123.33
Premium tax paid in Canal Zone- -------------- $1.50
FIDELITY AND DEPOSIT COMPANY OF MARYLAND
Net Losses
Premiums Paid
Fidelity -----------------------------$419.00 $0.00
Surety --------- ---------------- 6,135.00 0.00
Total ----- -- -------------- $6,554.00 $0.00
Premium tax paid in Canal Zone ------------- $98.31
FIREMEN'S INSURANCE COMPANY OF NEWARK
Net Losses
Premiums Paid
Fire ------------------------------- $74,063.91 $38,342.30
Automobile and motor vehicle --------------- 259,948.35 91,351.30
Miscellaneous -- -------- --------- 15,569.19 2,154.48
Workmen's compensation ---------------- 8,182.31 12,529.00
Total ------------ -------------- $357,763.76 $144,377.08
Premium tax paid in Canal Zone ------------- $5,366.46




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

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


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

INSURANCE COMPANY OF NORTH AMERICA
Net
Premiums.
Ocean marine --------- ----------$1,717.00
Surety _----------------------------- (Cr.) 331.00
Total- ----------------------- $1,386.00


Premium tax paid in Canal Zone


Losses
Paid
$0.00
0.00
1,500.00
0.00
0.00
18.19
0.00
0.00
$1,518.19


Losses
Paid
$0.00
0.00
$0.00


$20.79


INTERNATIONAL SERVICE INSURANCE COMPANY


Auto liability (B.I.) --------------------
Auto property damage
Auto physical damage
Total ---------------------
Premium tax paid in Canal Zone


Net
Premiums
$9,255.90
4,960.10
29,009.02
$43,225.02
$648.38


Losses
Paid
$590.25
6,743.36
17,986.99
$25,320.60


THE LIBERTY MUTUAL INSURANCE COMPANY
Net
Premiums
Health and accident ---------------------$86.00
Liability other than auto (B.I.)- -------------- 165.00
Property damage other than auto- ----------- 96.00
Total -------------------------- $347.00
Premium tax paid in Canal Zone ----------- $5.21


Losses
Paid
$0.00
0.00
0.00
$0.00




MARYLAND CASUALTY COMPANY


Accident and health ------
Group accident and health -----------------
Auto liability (B.I.)
Liability other than auto (B.I.)
Fidelity -------_----------------------
Surety _----------------------------
Glass _-----------------------------
Burglary and theft----------------------
Auto property damage
Inland marine ------------------------
Property damage other than auto
Workmen's compensation
Auto physical damage
Fire ---------------------
Extended coverage
Miscellaneous -------------
Total --------------------------
Premium tax paid in Canal Zone
MUTUAL OF OMAHA INSURANCE

Group accident and health
Individual and health ----------------


Net
Premiums
$1,741.71
2,313.13
38,113.90
6,370.73
2,422.00
47,766.50
35.00
5.641.00
19,376.70
5,228.00
2,400.69
46,440.78
55,800.87
4,255.00
198.00
247.00
$238,351.01
$3,575.27
COMPANY
Net
Premiums
117,197.39
2,646,313.37


Losses
Paid
$2,067.93
341.25
10,067.02
44.00
2,864.35
47.75
0.00
13,697.47
42,602.55
1,340.00
0.00
54,891.12
25,115.23
12,000.00
0.00
0.00
$165,078.67



Losses
Paid
$43,269.94
2,089,170.73


Total --------------------------$2,663,510.76 $2,132,460.67
Premium tax paid in Canal Zone ------------ $39,952.66
NATIONAL SURETY CORPORATION
(No transactions in Canal Zone during 1969)
NATIONAL UNION FIRE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)
PANAMA INSURANCE COMPANY


Net
Premiums
Fire ------------------------------- $1,743.12
Workmen's compensation ---------------- 115,007.19
Liability other than auto -- ------------- 18,760.65
Surety -- ------ 28,816.69
Automobile ----------------- ------- 3,380.92
Miscellaneous ------------------------- 3,177.80
Total- --------------------- $170,886.37
Premium tax paid in Canal Zone ------------- $2,563.30
RELIANCE INSURANCE COMPANY
(No transactions in Canal Zone during 1969)


Losses
Paid
$0.00
37,364.03
2,661.61
80,474.66
12,385.45
4,041.27
$136,927.02




ROYAL INDEMNITY COMPANY


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


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


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

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

TRAVELERS INDEMNITY COMPANY


Surety _--- ------------------------
Liability other than auto (B.I.)
Property damage than auto- ----------------
Total -------------------------
Premium tax paid in Canal Zone


Net
Premiums
$135.00
293.00
6.00
$434.00
$6.51


UNITED STATES FIDELITY AND GUARANTY COMPANY
Net Losses
Premiums Paid
Extended coverage ------------------------- $48.00 $0.00
Auto collision ------------------------- 55,016.00 41,435.65
Fire ----------------------------------- 3,147.00 0.00
Inland marine ------------------------- 200.00 0.00
Accident ----------------------------50.00 0.00
Workmen's compensation ------------------ 18,811.44 7,838.71
Liability other than auto (B.I.) -------------- 4,808.00 2,739.00
Auto liability (B.I.) ---------------------- 54,990.00 2,905.42
Auto property damage -------------------- 32,624.00 33,276.46
Auto physical damage -------------------- 35,483.00 13,446.05
Property damage other than auto ------------- 1,754.00 501.95
Fidelity ----------------------------- 6,089.00 1,000.00
Surety -------------------------------- 937.50 (Cr.) 2,904.57
Burglary and theft ------------------------- 4,062.00 6,928.67
Miscellaneous ---------------------------- 613.00 0.00
Glass ----------------------------- (Cr.) 130.90 0.00
Total -------------------------$218,502.04 $107,167.34
Premium tax paid in Canal Zone- ------------ $3,277.53


Losses
Paid
$0.00
0.00
0.00
$0.00




AMERICAN-AMICABLE LIFE INSURANCE COMPANY
ORDINARY


Policies in force December 31, 1968 ------------
Policies issued during 1969 ----- ----- -----
Total --------------------------
Ceased to be in force during 1969
Policies in force December 31, 1969
Losses and claims:
Unpaid December 31, 1968---------------
Incurred during 1969 -----------------
Total ----------------------------
Settled during 1969
Unpaid December 31, 1969
GRoUP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance -----------------------
Accident and Health
Total ---------------------------
Premium tax paid in Canal Zone -----------


Number
16
0
16
2
14

0
1
1
1
0


AMERICAN CAPITOL INSURANCE COMPANY
ORDINARY


Number
Policies in force December 31, 1968- ------------ 1,074
Policies issued during 1969- ------------------ 700
Total -------------------------------1,774
Ceased to be in force during 1969- ------------- 633
Policies in force December 31, 1969- ------------ 1,141
Losses and claims:
Unpaid December 31, 1968------------- 0
Incurred during 1969---_----------- 5
Total --- 5----------------------- 5
Settled during 1969----------------- 5
Unpaid December 31, 1969---------------- 0

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


Amount
$113,702.00
0.00
$113,702.00
6,000.00
$107,702.00

$0.00
14,761.00
$14,761.00
14,761.00
$0.00



$2,389.45
0.00
$2,389.45
$35.84


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

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



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


r





AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK
ORDINARY-None
GROUP


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


Number
1
0
1
0
1

0
0
0
0
0


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

$597.28
0.00
$597.28
597.28
$0.00

$6,245.86
0.00
$6,245.86
$93.69


BANKERS LIFE INSURANCE COMPANY OF AMERICA
ORDINARY


Number
Policies in force December 31, 1968------------- 1,105
Policies issued during 1969---------------- 0
Total ---------------------------- 1,105
Ceased to be in force during 1969 -------------- 91
Policies in force December 31, 1969 -------------- 1,014
Losses and claims:
Unpaid December 31, 1968------------- 1
Incurred during 1969---------------- 4
Total----- 5----------------------- 5
Settled during 1969----------------- 3
Unpaid December 31, 1969- 2

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

10


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

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



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





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


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


Ceased to be in force during 1969
Policies in force December 31, 1969


Number
1,734
25
1,759


11
S ...- 1,64


Losses and claims:
Unpaid December 31, 1968
Incurred during 1969- __ _
Total-
Settled during 1969 _
Unpaid December 31, 1969


Amount
$6,177,1o0.00
1,281,107.00
$7,458,287.00


2
7

0
5
5
5
0


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


1,562,143.00
$5,896,144.00

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


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


EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
ORDINARY-None*
GROUP


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


Number
- -- 0
- ------- -_ 0
-- -- --- 0

.. _- 0

0
NA
0
NA
---- 0


Net premiums collected in Canal Zone during 1969:
Life Insurance _
Accident and Health _
Total -
Premium tax paid in Canal Zone --
o Figures not available.


Amount
$0.00
NA*
$0.00
NA
$0.00

$0.00
403,656.50
$403,656.50
403,656.50
$0.00

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




EXECUTIVE FUND LIFE INSURANCE COMPANY
ORDiNARY-None
GnouP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance --------------------------- $0.00
Accident and Health_ 581.10
Total_ ------------------------------- $581.10
Premium tax paid in Canal Zone ---------------------- $8.72

FIDELITY AND GUARANTY LIFE INSURANCE COMPANY


ORDINARY

Policies in force December 31, 1968
Policies issued during 1969 ----------
Total ---------------------------
Ceased to be in force during 1969 -
Policies in force December 31, 1969 -------------
Losses and claims:
Unpaid December 31, 1968
Incurred during 1969 ---
Total ---------------------------
Settled during 1969
Unpaid December 31, 1969


Number
61
11
72
12
60

0
0
0
0
0


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


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

$0.00
0.00
$0.00
0.00
$0.00



$7,640.91
0.00
$7,640.91
$114.61




THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


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


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

0
22
22
22
0


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


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

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



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


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




















13




LINCOLN NATIONAL LIFE INSURANCE

OMrINARY

Policies in force December 31, 1968
Policies issued during 1969
Total -------------------------
Ceased to be in force during 1969
Policies in force December 31, 1969
Losses and claims:
Unpaid December 31, 1968
Incurred during 1969
Total ---------------------------
Settled during 1969 ----
Unpaid December 31, 1969 --------


COMPANY


Number
621
1
622
48
574

2
8
10
9
1


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

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


GROUP


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


0
0
0
0
0

0
0
0
0
0


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

$0.00
0.00
$0.00
0.00
$0.00

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




NATIONAL WESTERN LIFE INSURANCE COMPANY
ORDINARY


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


Number
8
10
18
2
16

0
0
0
0
0


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

PAN-AMERICAN LIFE INSURANCE COMPANY


ORDINARY
Policies in force December 31, 1968
Policies issued during 1969
Total ------------
Ceased to be in force during 1969
Policies in force December 31, 1969 --- -----
Losses and claims:
Unpaid December 31, 1968
Incurred during 1969 ---------
Total --------------------------
Settled during 1969 -------
Unpaid December 31, 1969


Number
110
7
117
6
111

0
0
0
0
0


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

15


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

$0.00
0.00
$0.00
0.00
$0.00



$1,929.18
0.00
$1,929.18
$28.94


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

$0.00
0.00
$0.00
0.00
$0.00



$36,197.09
0.00
$36,197.09
$542.96




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

UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY


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


Number
523
54
577
39
538

0
3
3
1
2


GROUP
Policies in force December 31, 1968- ------------ 3
Policies issued during 1969---------------- 0
Total----------------------------- 3
Ceased to be in force during 1969 -------------- 1
Policies in force December 31, 1969----------- 2
Losses and claims:
Unpaid December 31, 1968------------- 0
Incurred during 1969 -------------------86
Total -------------------------- 86
Settled during 1969 --------------------83
Unpaid December 31, 1969---------------- 3
Net premiums collected in Canal Zone during 1969:
Life Insurance
Accident and Health- ------------------------
Total --------------------------------
Premium tax paid in Canal Zone -------------------


Amount
$2,660,203.00
586,639.00
$3,266,922.00
264,808.00
$3,002,114.00

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


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

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

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




UNITED SERVICES LIFE INSURANCE
ORDINARY


COMPANY


Number
Policies in force December 31, 1968- ------------ 323
Policies issued during 1969- ------------------ 179
Total -------------------------------502
Ceased to be in force during 1969 ------------- 238
Policies in force December 31, 1969- ------------ 264
Losses and claims:
Unpaid December 31, 1968------------- 0
Incurred during 1969--------------- 1
Total ---------------------------- 1
Settled during 1969----------------- 1
Unpaid December 31, 1969---------------- 0
GRouP-None
Net premiums collected in Canal Zone during 1969:
Life Insurance ----------------------------
Accident and Health ------------------------
Total --------------------------------
Premium tax paid in Canal Zone -------------------


Amount
$3,814,525.00
2,129,768.00
$5,944,293.00
2,771,783.00
$3,172,510.00

$0.00
1,500.00
$1,500.00
1,500.00
$0.00



$65,629.42
0.00
$65,629.42
$984.44


UNITED STATES LIFE INSURANCE COMPANY

ORDINARY


Policies in force December 31, 1968 ------------
Policies issued during 1969
Total ---------------------------
Ceased to be in force during 1969
Policies in force December 31, 1969
Losses and claims:
Unpaid December 31, 1968
Incurred during 1969 --------
Total ----------------
Settled during 1969
Unpaid December 31, 1969- ---------------


Number
23
0
23
1
22

0
3
3
2


Amount
$368,869.00
23.00
$368,892.00
18,275.00
$350,617.00

$0.00
32,840.00
$32,840.00
27,840.00


$5,000.00




GROUP


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


1
0
1
0
1

0
0
0
0
0


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

$0.00
0.00
$0.00
0.00
$0.00

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


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

WORLD SERVICE LIFE INSURANCE COMPANY

ORDINARY


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


Number
49
2
51
11
40

0
0
0
0
0


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


Amount
$456,326.00
17,500.00
$473,826.00
107,612.00
$366,214.00

$0.00
0.00
$0.00
0.00
$0.00



$6,956.24
0.00
$6,956.24
$104.34





RECAPITULATION

MISCELLANEOUS COMPANIES


Accident ----- ---------------------
Automobile and motor vehicle -------------
Auto comprehensive -------------------
Auto collision -------- ---------------
Auto liability (B.I.)
Auto property damage ----_------------
Auto physical damage -----------------
Burglary and theft --------------------
Extended coverage --------------------
Fidelity ---------------------------
Fire _----- -----------------------
Glass-----------------------------
Group accident and health
Health and accident (includes
hospital and medical)
Inland marine
Liability other than auto --------------
Miscellaneous
Ocean Marine
Property damage other than auto
Surety
Workmen's compensation
Total
Premium taxes paid in Canal Zone -----


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

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


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

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


LIFE INSURANCE COMPANIES

ORDINARY


Policies in force December 31, 1968
Policies issued during 1969
Total ---------------
Ceased to be in force during 1969
Policies in force December 31, 1969
Losses and claims:
Unpaid December 31, 1968
Incurred during 1969
Total -----
Settled during 1969
Unpaid December 31, 1969 ----


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

3
52
55
49
6


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

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





GRouP


Policies in force December 31, 1968 ------------
Policies issued during 1969
Total ---------------------------
Ceased to be in force during 1969
Policies in force December 31, 1969
Losses and claims:
Unpaid December 31, 1968
Incurred during 1969
Total -----------------------
Settled during 1969
Unpaid December 31, 1969


Net premiums collected in Canal Zone during 1969:
Life Insurance ---------------------
Accident and Health- ---------- -- -- _
Total_ ------------------------
Premium tax paid in Canal Zone ----------


Number
5
0
5
1
4

0


Amount
$113,128,769.00
18,298.00
$113,147,067.00
265,569.00
$112,881,498.00

$597.28


86 820,406.50
86 $821,003.78
83 812,003.78
3 $9,000.00


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


The relatively small amount of fire insurance business written is due to the
fact that practically all structures in the Canal Zone are owned by the
Government of the United States and are not covered by fire insurance.
Following is a statement of property in the Canal Zone involved in fires
and the damages resulting therefrom during the year ended December
31, 1969.


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
$14,794,360.27
4,115,991.87
101,320.00
10,214,645.62
39,216,000.00*
2,385,497.01
$70,627,814.77


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


The following is an extract from Title 2 of the Canal Zone Code, as revised
effective January 2, 1963, pertaining to the licensing of foreign corporations
under which insurance companies are authorized to do business in the
Canal Zone.


20




CANAL ZONE CODE-Title 2, Chapter 61
SEC. 871. Corporation; joint stock company.-As used in this chapter,
"corporation" includes joint stock companies.
SEC. 872. Application for license to do business; service of process;
filing fee.-(a) A corporation organized under the laws of a State of the
United States or of a foreign country may not do business in the Canal Zone
or maintain an office therein until it has filed with the executive secretary of
the Canal Zone Government:
(1) An application for a license setting forth:
A. The name of the corporation;
B. The names of its officers and directors; and
C. The general nature of the business in which it desires to
engage in the Canal Zone;
(2) A copy, duly certified by the officer authorized by law to certify
it, of the:
A. Articles of incorporation;
B. Charter; or
C. Statutory, executive, or governmental acts creating the
corporation, when it has been so created;
(3) An affidavit sworn by an authorized officer of the corporation
stating the amount of its authorized capital stock at or within 60 days
prior to the filing.
(4) A designation of a person residing within the Canal Zone upon
whom process issued under any law of the Canal Zone may be served,
and his place of business or residence, and a certified copy of the minutes
of the board of directors of the corporation authorizing the designation.
(b) Process served on the person designated by the corporation or, if he
can not be found at the place designated, or if a person is not designated,
on the executive secretary of the Canal Zone Government, is a valid service
on the corporation. When the executive secretary is served with process he
shall without delay communicate the same to the corporation concerned at
its last known address. A default judgment may not be entered against the
corporation in an action in which process is served on the executive secretary
until at least 60 days after the date of the service.
(c) A corporation licensed pursuant to this chapter shall also file with
the executive secretary any change in the provisions of its original articles
of incorporation.
(d) With the application for license there shall also be paid $10, which
shall cover the filing fee and annual license fee for the remainder of the
calendar year during which the license is issued.
SEC. 873. Additional requirements for insurance companies.-In addition
to the other requirements of this chapter, an insurance company organized
under the laws of a State of the United States or of a foreign country shall
file the following documents: (1) A certificate of an authorized official,
showing that the company is authorized to transact business in the State or
country under whose laws the company is organized;




(2) A duly certified copy of the last annual statement of the insurance
company to an authorized official in the State or country where the company
is organized;
(3) A deposit with the executive secretary of the Canal Zone Government
of $10,000 in cash or current marketable securities, which shall be held in
trust by the executive secretary for the account of the company, to satisfy
any judgment that may be rendered against the company, under insurance
policies that it may issue.
SEC. 874. Annual statement and license tax for insurance companies.-
An insurance company licensed pursuant to this chapter shall file with the
executive secretary of the Canal Zone Government before March 1 of each
year a verified statement showing the business transacted within the Canal
Zone by the company during the previous calendar year and a duly certified
copy of its annual report to an authorized official of the State or country in
which the company is organized. Upon a showing of good cause therefore,
the executive secretary may extend the time for filing the statement for a
period not exceeding two months after March 1.
An insurance company licensed pursuant to this chapter shall pay before
March 1 of each year, in lieu of all other taxes except the annual fee provided
for by section 876 of this title, a license tax equal to 1% percent of its net
premium receipts in the Canal Zone for the proceeding calendar year.
SEC. 875. Issuance of license.-Upon compliance by a corporation with
the conditions prescribed by sections 872-874 of this title, and if the Governor
is satisfied that the business desired to be transacted is proper, legitimate and
permissible under the laws of the Canal Zone, and not in conflict with the
policy of administering the Canal Zone as an adjunct of the Panama Canal
he may issue a license to do business in the Canal Zone.
SEC. 876. Continuance after first license period.-The right of a corpora-
tion to continue to do business for the calendar year, and the successive
calendar years, after the calendar year during which the original license
was issued, shall be contingent upon: (1) Compliance with the provisions
of this chapter applicable to corporations licensed under it;
(2) Payment of a license fee of $10, payable in advance, on January 1
of each year; and
(3) Designation of a new process agent before March 1, if the process
agent previously designated has ceased during a preceding calendar year
to reside within the Canal Zone.
SEC. 877. Revocation of license.-The Governor may revoke a license
issued pursuant to this chapter if, upon examination, he is satisfied that the
operations of the corporation are conducted in an illegal manner, or in a
manner contrary to public policy or to the policy of administering the Canal
Zone as an adjunct of the Panama Canal.
SEC. 878. Loss of benefit of statute of limitations.-Corporations doing
business in the Canal Zone which fail to comply with this chapter are not
entitled to the benefit of the laws of the Canal Zone limiting the time for
the commencement of civil actions.





SEC. 879. Penalties for violation; validity of contracts.- (a) A corpora-
tion which does business in the Canal Zone without having complied with
this chapter shall be fined not more than $500.
(b) Whoever acts as an officer of, or agent for, a corporation which
has not complied with this chapter, shall be fined not more than $100 or
imprisoned in jail not more than 30 days, or both.
(c) Every contract made by or on behalf of such a corporation affecting
the liability thereof or relating to property within the Canal Zone is void
on its behalf and on behalf of its assigns, but is enforceable against it or them.
SEC. 880. Corporations dealing in securities.-A corporation licensed
pursuant to Chapter 79 of this title is not required to comply with sections
871-879 of this title.
SEC. 881. Surrender of license to do business.-(a) A corporation
licensed to do business in the Canal Zone may surrender its license by filing
with the executive secretary of the Canal Zone Government a certificate
signed and acknowledged by its president or a vice president and its secretary
or an assistant secretary or treasurer, setting forth:
(1) The name of the corporation as shown on the records of the
executive secretary, and the State or place of incorporation;
(2) That it revokes its designation of agent for the service of process;
(3) That it surrenders its authority to do business in the Canal Zone
and returns its license for cancellation, or that the license has been
lost or destroyed, if such is the fact;
(4) That it consents that process against it in any action upon a
liability or obligation incurred within the Canal Zone prior to the filing
of the certificate of surrender may be served upon the executive secretary
of the Canal Zone Government;
(5) A post office address to which the executive secretary may mail
a copy of any process served upon him, which address may be changed
from time to time by filing a certificate entitled "certificate of change of
address of surrendered foreign corporation" signed and acknowledged
by the president, a vice president, secretary, assistant secretary, or
treasurer.
(b) The license shall be attached to the certificate of surrender unless the
license has been lost or destroyed, in which case there shall be attached an
affidavit of the president, vice president, secretary, assistant secretary, or
treasurer to that effect.
(c) Mere retirement from doing business in the Canal Zone without filing
a certificate of surrender of license does not revoke the appointment of any
agent for the service of process within the Canal Zone.
SEC. 882. Service of process after revocation or surrender of license.-
(a) After the license of a corporation has been revoked or surrendered,
process against the corporation may be served upon the executive secretary
of the Canal Zone Government in any action upon a liability or obligation
incurred within the Canal Zone prior to the revocation or the filing of the
certificate of surrender.




(b) Section 872(b) of this title applies to service of process upon the
executive secretary pursuant to this section.
(c) The revocation or surrender of a license does not affect any action
pending at the time.










































31805-550
24




~1






(2) A duly certified copy of the last annual statement of the insurance
company to an authorized official in the State or country where the company
is organized;
(3) A deposit with the executive secretary of the Canal Zone Government
of $10,000 in cash or current marketable securities, which shall be held in
trust by the executive secretary for the account of the company, to satisfy
any judgment that may be rendered against the company, under insurance
policies that it may issue.
SEC. 874. Annual statement and license tax for insurance companies.-
An insurance company licensed pursuant to this chapter shall file with the
executive secretary of the Canal Zone Government before March 1 of each
year a verified statement showing the business transacted within the Canal
Zone by the company during the previous calendar year and a duly certified
copy of its annual report to an authorized official of the State or country in
which the company is organized. Upon a showing of good cause therefore,
the executive secretary may extend the time for filing the statement for a
period not exceeding two months after March 1.
An insurance company licensed pursuant to this chapter shall pay before
March 1 of each year, in lieu of all other taxes except the annual fee provided
for by section 876 of this title, a license tax equal to 1 percent of its net
premium receipts in the Canal Zone for the proceeding calendar year.
SEC. 875. Issuance of license.-Upon compliance by a corporation with
the conditions prescribed by sections 872-874 of this title, and if the Governor
is satisfied that the business desired to be transacted is proper, legitimate and
permissible under the laws of the Canal Zone, and not in conflict with the
policy of administering the Canal Zone as an adjunct of the Panama Canal
he may issue a license to do business in the Canal Zone.
SEC. 876. Continuance after first license period.-The right of a corpora-
tion to continue to do business for the calendar year, and the successive
calendar years, after the calendar year during which the original license
was issued, shall be contingent upon: (1) Compliance with the provisions
of this chapter applicable to corporations licensed under it;
(2) Payment of a license fee of $10, payable in advance, on January 1
of each year; and
(3) Designation of a new process agent before March 1, if the process
agent previously designated has ceased during a preceding calendar year
to reside within the Canal Zone.
SEC. 877. Revocation of license.-The Governor may revoke a license
issued pursuant to this chapter if, upon examination, he is satisfied that the
operations of the corporation are conducted in an illegal manner, or in a
manner contrary to public policy or to the policy of administering the Canal
Zone as an adjunct of the Panama Canal.
SEC. 878. Loss of benefit of statute of limitations.-Corporations doing
business in the Canal Zone which fail to comply with this chapter are not
entitled to the benefit of the laws of the Canal Zone limiting the time for
the commencement of civil actions.






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

CITIZENS STANDARD LIFE INSURANCE COMPANY


ORDINARY

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


Number
1,734
25


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


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


0


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


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



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


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


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


Number
0
0
0
-- O 0
0
0


Amount
$0.00
NA*
$0.00
NA
$0.00


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

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









RECAPITULATION

MISCELLANEOUS COMPANIES


Accident ---------- ---------------
Automobile and motor vehicle --- ---
Auto comprehensive -------------------
Auto collision -----------------------
Auto liability (B.I.) ___ -
Auto property damage __-------------
Auto physical damage --_
Burglary and theft---------- -- --
Extended coverage--------- --------
Fidelity --_-----------------------
Fire----------------------------
Glass ---------------------
Group accident and health ____---
Health and accident (includes
hospital and medical) ---- ----
Inland marine__--_--------
Liability other than auto______- --
Miscellaneous __- --______-
Ocean Marine_____________
Property damage other than auto -------___
Surety_____________
Workmen's compensation- ____- -
Total ____________
Premium taxes paid in Canal Zone__-- ____


LIFE INSURANCE COMPANIES

ORDINARY


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


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

3
52
55
49
6


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

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


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

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


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

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






CANAL ZONE GOVERNMENT


ANNUAL REPORT
OF

INSURANCE BUSINESS


transacted in the

CANAL ZONE

DURING THE CALENDAR YEAR

1969


Including Laws Concerning Licensing


Of Insurance Companies







di,' i







ROYAL INDEMNITY COMPANY


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


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


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

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

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

UNITED STATES FIDELITY AND GUARANTY COMPANY


Extended coverage_---------------------
Auto collision --------- ---------------
Fire--------------------------------
Inland marine-.------------- -----------
Accident _---------------------------
Workmen's compensation_ ---------------
Liability other than auto (B.I.)--------------
Auto liability (B.I.) ---------------------
Auto property damage ------------------
Auto physical damage------ --------------
Property damage other than auto-------------
Fidelity ____------- -----------------
Surety---- _----------------------
Burglary and theft---------------------
Miscellaneous_ __------- -------------


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


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


4







3
1


.)




$10


Losses
Paid
$0.00
0.00
0.00
$0.00




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






LINCOLN NATIONAL LIFE INSURANCE COMPANY

ORDINARY


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


GROUP


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


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


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

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

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


Number
621
1
622
48
574

2
8
10
9
1


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

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






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.






THE GIBRALTAR LIFE INSURANCE COMPANY OF AMERICA

ORDINARY


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


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

0
22
22
22
n


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


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

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




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


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


V







AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY
OF NEW YORK
ORDINARY-None


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


BANKERS LIFE INSURANCE COMPANY OF AMERICA


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


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

1
4
5
3
2


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


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

$597.28
0.00
$597.28
597.28
$0.00

$6,245.86
0.00
$6,245.86
$93.69


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

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



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






GROUP

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


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

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

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


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

WORLD SERVICE LIFE INSURANCE COMPANY


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


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

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



$6,956.24
0.00
$6,956.24
$104.34







CANAL ZONE GOVERNMENT



ANNUAL REPORT
OF

INSURANCE B

transacted i eC 1970

CANAL Z

DURING THE CALENDAR YEAR

1969


IcMluing Laws Concerning Licensinlg
Of Ins ran eCopne






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

FIDELITY AND GUARANTY LIFE INSURANCE COMPANY


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


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

$0.00
0.00
$0.00
0.00
$0.00



$7,640.91
0.00
$7,640.91
$114.61







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

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

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

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

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






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


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

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

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

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


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



Losses
Paid
$0.00
0.00
0.00
0.00
0.00
19.72
$19.72



Losses
Paid
$0.00
0.00
123.33
$123.33



Losses
Paid
$0.00
0.00
$0.00



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






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;






Compaiiia Nacional de Seguros, S.A.________ _Panama, R. of P.
Continental Casualty Company_------ _--_--------- Chicago, Ill.
Continental Insurance Company_ -------------___ New York, N.Y.
Equitable Life Assurance Society of the United States2 -New York, N.Y.
Executive Fund Life Insurance Co.-------------------Omaha, Nebr.
Fidelity and Casualty Company of New York __----- New York, N.Y.
Fidelity and Deposit Company ------------- ____ - Baltimore, Md.
Fidelity and Guaranty Life Insurance Company -------Baltimore, Md.
Firemen's Insurance Company of Newark -------- __--- Newark, N.J.
General Insurance Company of America ---__-----____ Seattle, Wash.
Gibraltar Life Insurance Company of America----------- _Dallas, Tex.
Great American Insurance Company ----------_ New York, N.Y.
Hartford Accident and Indemnity Company -----____ Hartford, Conn.
Insurance Company of North America --------------Philadelphia, Pa.
International Service Insurance Company-___________ Fort Worth, Tex.
Jackson National Life Insurance Company---------- Jackson, Mich.
Liberty Mutual Insurance Company-------------_ B--- oston, Mass.
Lincoln National Life Insurance Company-_________-Fort Wayne, Ind.
Maryland Casualty Company____ ------------------ Baltimore, Md.
Mutual of Omaha Insurance Company ----------------Omaha, Nebr.
National Surety Corporation __--------------------New York, N.Y.
National Union Fire Insurance Company ------------Pittsburgh, Pa.
National Western Life Insurance Company ____________-Denver, Colo.
Panama Insurance Company, Inc.-- ---------------- Panama, R. of P.
Pan-American Life Insurance Company__--------__ New Orleans, La.
Peninsular Life Insurance Company---------- Jacksonville, Fla.
Reliance Insurance Company --------------------- Philadelphia, Pa.
Royal Indemnity Company_---------- ___New York, N.Y.
Seaboard Surety Company _---------------------_New York, N.Y.
Transamerica Insurance Company ____________--San Francisco, Calif.
Travelers Indemnity Company --------------------Hartford, Conn.
United Benefit Life Insurance Company --- --_-----_Omaha, Nebr.
United Services Life Insurance Co.------- ------ Washington, D.C.
United States Fidelity and Guaranty Company -------_ Baltimore, Md.
United States Life Insurance Company in the City of New York-
New York, N.Y.
Wabash Life Insurance Co.--------------- ----__Indianapolis, Ind.
World Service Life Insurance Company-----------_ _Forth Worth, Tex.
2 Equitable Life Assurance Society of the United States licensed in the Canal Zone, March
24, 1969.
3 Jackson National Life Insurance Company licensed in the Canal Zone July 1, 1969.






NATIONAL WESTERN LIFE INSURANCE COMPANY


ORDINARY

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


Number
8
10
18
2
16

0
0
0
0
0


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

PAN-AMERICAN LIFE INSURANCE COMPANY


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

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


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

$0.00
0.00
$0.00
0.00
$0.00



$1,929.18
0.00
$1,929.18
$28.94


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

$0.00
0.00
$0.00
0.00
$0.00



$36,197.09
0.00
$36,197.09
$542.96













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


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



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


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



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


Losses
Paid
$0.00
0.00
0.00
0.00
0.00
0.00
$0.00


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






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


AMERICAN CAPITOL INSURANCE COMPANY


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


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

0
5
5
5
0


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


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

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



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























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


http://www.archive.org/details/annualreportofinl969cana






(b) Section 872(b) of this title applies to service of process upon the
executive secretary pursuant to this section.
(c) The revocation or surrender of a license does not affect any action
pending at the time.












































31805-550






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

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

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

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

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

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





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






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


UNITED STATES LIFE INSURANCE COMPANY

ORDINARY


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


Number
23
0
23
1
22

0
3
3
2
1


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

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






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

UNITED BENEFIT LIFE INSURANCE COMPANY
ORDINARY


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


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

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


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

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

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






GROUP


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

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


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


0
86

86
83
3


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


$597.28
820,406.50

$821,003.78
812,003.78
$9,000.00


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


The relatively small amount of fire insurance business written is due to the
fact that practically all structures in the Canal Zone are owned by the
Government of the United States and are not covered by fire insurance.
Following is a statement of property in the Canal Zone involved in fires
and the damages resulting therefrom during the year ended December
31, 1969.


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


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


The following is an extract from Title 2 of the Canal Zone Code, as revised
effective January 2, 1963, pertaining to the licensing of foreign corporations
under which insurance companies are authorized to do business in the
Canal Zone.









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

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

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

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












CANAL ZONE GOVERNMENT
OFFICE OF THE GOVERNOR


BALBOA HEIGHTS, June 1, 1970.


GOVERNOR OF THE CANAL ZONE,
Balboa Heights, C.Z.

Sir: There is submitted herewith a report of insurance business transacted
in the Canal Zone during the calendar year 1969.

Respectfully,
PAUL M. RUNNESTRAND,
Executive Secretary.


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

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

PAGE 1

(ZZi3l%l ^ CANAL ZONE GOVERNMENT ANNUAL REPORT OF INSURANCE BJ transacted i CANAL Z< DURING THE CALENDAR YEAR 1969 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 1969 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/annualreportofin1969cana

PAGE 5

CANAL ZONE GOVERNMENT OFFICE OF THE GOVERNOR Balboa Heights, June 1, 1970. Governor of The Canal Zone, Balboa Heights, C.Z. Sir: There is submitted herewith a report of insurance business transacted in the Canal Zone during the calendar year 1969. Respectftdly, Faxhu M. Rxjnnestrand, Executive Secretary. The following companies were authorized to transact business in the Canal Zone during the year 1969: Aetna Casualty and Surety Company Hartford, Conn. American-Amicable Life Insurance Company Birmingham, Ala. American Capitol Insurance Company Houston, Tex. American Employers' Insurance Company Boston, Mass. American Home Assurance Company New York, N.Y. American International Life Assurance Company of New YorkNew York, N.Y. American Motorists Insurance Co Chicago, 111. Bankers Life Insurance Company of America Dallas, Tex. Beneficial National Life Insurance Company^ New York, N.Y. Citizens Standard Life Insurance Company Corpus Christi, Tex. Colonial Insurance Company of Panama Panama, R. of P. Commercial Insurance Company Newark, N.J. Compaiiia General de Seguros, S.A Panama, R. of P. Compafiia Interamericana de Seguros, S.A Panama, R. of P. Compaiiia Intemacional de Seguros, S.A Panama, R. of P. Compafiia Istmeiia de Seguros, S.A Panama, R. of P. 1 Beneficial National Life Insurance Company licensed in the Canal Zone June 23, 1969.

PAGE 6

Compania Nacional de Seguros, S.A Panama, R. of P. Continental Casualty Company Chicago, 111. Continental Insurance Company New York, N,Y. Equitable Life Assurance Society of the United States^ New York, N.Y. Executive Fund Life Insurance Co Omaha, Nebr. Fidelity and Casualty Company of New York New York, N.Y. Fidelity and Deposit Company Baltimore, Md. Fidelity and Guaranty Life Insurance Company Baltimore, Md. Firemen's Insurance Company of Newark Newark, N.J. General Insurance Company of America Seattle, Wash. Gibraltar Life Insurance Company of America Dallas, Tex. Great American Insurance Company New York, N.Y. Hartford Accident and Indemnity Company Hartford, Conn. Insurance Company of North America Philadelphia, Pa. International Senice Insurance Company Fort Worth, Tex. Jackson National Life Insurance Company" Jackson, Mich. 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 Suret)Corporation New York, N.Y. National Union Fiie Insurance Company Pittsburgh, Pa. National Western Life Insurance Company Denver, Colo. Panama Insurance Company, Inc Panama, R. of P. Pan-American Life Insurance Company New Orleans, La. Peninsular Life Insurance Company Jacksonville, Fla. Reliance Insurance Company Philadelphia, Pa. Royal Indemnity Company New York, N.Y. Seaboard Surety Company New York, N.Y. Transamerica Insurance Company San Francisco, Calif. Travelers Indemnity Company Hartford, Conn. United Benefit Life Insurance Company Omaha, Nebr. United Services Life Insurance Co Washington, D.C. United States Fidelity and Guaranty Company Baltimore, Md. United States Life Insurance Company in the City of New YorkNew York, N.Y. Wabash Life Insurance Co Indianapolis, Ind. World Sei-vice Life Insurance Company Forth Worth, Tex. 2 Equitable Life Assurance Society of the United States licensed in the Canal Zone, March 24, 1969. 3 Jackson Naiional Life Insurance Company licensed in the Canal Zone July 1, 1969.

PAGE 7

AETNA CASUALTY AND SURETY COMPANY (No transactions in Canal Zone during 1969) AMERICAN EMPLOYERS' INSURANCE COMPANY Net Losses Premiums Paid Workmen's compensation $1.32 $0.00 LiabUity other than auto (B.I.) 42.38 0.00 Property damage other than auto 0.99 0.00 Auto LiabUity ( B.I.) 3.96 0.00 Auto property damage 2.64 0.00 Auto physical damage 3.63 0.00 Total $54.92 $0.00 Premium tax paid in Canal Zone $0.82 AMERICAN HOME ASSURANCE COMPANY (No transactions in Canal Zone during 1969) AMERICAN MOTORISTS INSURANCE COMPANY (No transactions in Canal Zone during 1969) COLONIAL INSURANCE COMPANY OF PANAMA Net Losses Premiums Paid Liability Other than auto $317.00 $81.70 Auto liability (B.I.) 49,965.49 1,252.30 Auto property damage 29,815.49 20,128.46 Automobile and motor vehicle 17,884.29 4,079.37 Auto comprehensive 7,267.18 2,950.26 Auto collision 34,777.93 12,939.65 Fire 718.47 0.00 Burglary and theft _ 170.00 0.00 Miscellaneous 10.00 0.00 Total $140,925.85 $41,431.74 Premium tax paid in Canal Zone $2,113.89

PAGE 8

COMMERCIAL INSURANCE COMPANY Net Premiums Automobile and motor vehicle $237.00 Workmen's compensation 80,824.80 Miscellaneous 19,507.73 Total $100,569.53 Premium tax paid in Canal Zone $1,508.54 COMPA5rlA GENERAL DE SEGUROS, S.A. Net Premiums Fire $50.00 Surety 2,798.24 Liability other than auto 282.57 Workmen's compensation 17,363.77 Auto comprehensive 220.44 Auto liability (B.I.) 447.55 Auto collision 497.67 Auto property damage 327.64 Extended coverage 82.69 Hospital and medical 55.45 Total $22,126.02 Premium tax paid in Canal Zone $331.89 COMPANIA INTERAMERICANA DE SEGUROS, S.A. Net Premiums Auto liability ( B.I. ) $45.81 Workmen's compensation 5,605.04 Fii« 5,859.15 Automobile 46,341.50 Total $57,851.50 Premiimi tax paid in Canal Zone $867.77 COMPAJSJIA INTERNACIONAL DE SEGUROS, S.A. Net Premiums Miscellaneous $3,306.36 Total $3,306.36 Premium tax paid in Canal Zone $49.60 COMPA5JIA ISTMENA DE SEGUROS, S.A. (No transactions in Canal Zone during 1969) COMPANIA NACIONAL DE SEGUROS, S.A. Net Premiums Workmen's compensation $52,511.58 Total $52,511.58 Premium tax paid in Canal Zone $787.67 •Complete infonnation unavailable. 4 Losses Paid $226.50 44,768.80 3,430.98 $48,426.28 Losses Paid $0.00 0.00 0.00 2,852.17 0.00 0.00 0.00 0.00 0.00 0.00 $2,852.17 Losses Paid $0.00 3,572.00 0.00 6,244.21 ^9,816.21 Losses Paid $0.00 $0.00 Losses Paid $0.00' $0.00

PAGE 9

CONTINENTAL CASUALTY COMPANY Net Losses Premiums Paid Accident and health $1,444.93 $ol0.00 Group accident and health 2,458.31 3,984.37 Inland marine 7.70 30.00 Auto liabihty (B.L) (Cr.) 81.57 0.00 Auto property damage 2.60 528.75 Auto physical damage 66.16 424.08 Total $3,898.13 $5,777.20 Premium tax paid in Canal Zone $58.47 CONTINENTAL INSURANCE COMPANY Net Losses Premiums Paid Fire $lUU.U0 $0.00 Auto liability ( B.I. ) (Cr.) 2,117.00 0.00 Auto property damage (Cr.) 708.00 0.00 Auto physical damage (Cr.) 1,496.00 0.00 Surety 100.00 0.00 Miscellaneous 0.00 19.72 Total (Cr.) $4,121.00 $19.72 Premium tax paid in Canal Zone $0.00 FIDELITY AND CASUALTY COMPANY OF NEW YORK Net Losses Premiums Paid Surety $2U.U0 $0.00 Miscellaneous 80.00 0.00 Workmen's compensation 0.00 123.33 Total $100.00 $123.33 Premium tax paid in Canal 2^ne $1.50 FIDELITY AND DEPOSIT COMPANY OF MARYLAND Net Losses Premiums Paid Fidelity$419.00 $0.00 Surety 6,135.00 0.00 Total $6,554.00 $0.00 Premiiun tax paid in Canal Zone $98.31 FIREMEN'S INSURANCE COMPANY OF NEWARK Net Losses Premiums Paid Fire $74,063.91 $38,342.30 Automobile and motor vehicle 259,948.35 91,351.30 Miscellaneous 15,569.19 2,154.48 Workmen's compensation 8,182.31 12,529.00 Total $357,763.76 $144,377.08 Premium tax paid in Canal Zone $5,366.46

PAGE 10

GENERAL INSURANCE COMPANY OF AMERICA (No transactions in Canal Zone during 1969) GREAT AMERICAN INSURANCE COMPANY (No transactions in Canal Zone during 1969) HARTFORD ACCIDENT AND IDEMNITY COMPANY Net Losses Premiums Paid Fire $505.00 $0.00 Workmen's compensation 562.00 0.00 Liability other than auto (B.I.) 338.00 1,500.00 Property damage other than auto 19.00 0.00 Extended Coverage 146.00 0.00 .•\uto property damage0.00 18.19 Auto physical damage (Cr.) 159.00 0.00 Surety 33.00 0.00 Total $1,444.00 $1,518.19 Premiimi tax paid in Canal Zone $21.66 INSURANCE CO^^PANY OF NORTH AMERICA Net Premiums Ocean marine $1,717.00 Surety ( Cr.) 331.00 Total $1,386.00 Premiimi tax paid in Canal Zone $20.79 INTERNATIONAL SERVICE INSURANCE COMPANY Net Premiums Auto liability (B.I.) $9,255.90 Auto property damage 4,960.10 Auto physical damage 29,009.02 Total $43,225.02 Premium tax paid in Canal Zone $648.38 THE LIBERTY MUTUAL INSURANCE COMPANY Net Premiums Health and accident $86.00 Liabihty other than auto (B.I.) 165.00 Property damage other than auto 96.00 Total $347.00 Premium tax paid in Canal Zone $5.21 Losses Paid $0.00 0.00 $0.00 Losses Paid $590.25 6,743.36 17,986.99 $25,320.60 Losses Paid $0.00 0.00 0.00 $0.00

PAGE 11

MARYLAND CASUALTY COMPANY Net Losses Premiums Paid Accident and health $1,741.71 $2,067.93 Group accident and health 2,313.13 341.25 Auto liability ( B.L ) 38,113.90 10,067.02 Liability other than auto (B.I.) 6,370.73 44.00 Fidelity 2,422.00 2,864.35 Surety 47,766.50 47.75 Glass 35.00 0.00 Burglary and theft 5.641.00 13,697.47 Auto property damage 19,376.70 42,602.55 Inland marine 5,228.00 1,340.00 Property damage other than auto 2,400.69 0.00 Workmen's compensation 46,440.78 54,891.12 Auto physical damage 55,800.87 25,115.23 Fire 4,255.00 12,000.00 Extended coverage 198.00 0.00 Miscellaneous 247.00 0.00 Total $238,351.01 $165,078.67 Premium tax paid in Canal Zone $3,575.27 MUTUAL OF OMAHA INSURANCE COMPANY Net Losses Premiums Paid Group accident and health $17,197.39 $43,269.94 Individual and health 2,646,313.37 2,089,170.73 Total $2,663,510.76 $2,132,460.67 Premium tax paid in Canal Zone $39,952.66 NATIONAL SURETY CORPORATION (No transactions in Canal Zone during 1969) NATIONAL UNION FIRE INSURANCE COMPANY (No transactions in Canal Zone during 1969) PANAMA INSURANCE COMPANY Net Losses Premiums Paid Fire $1,743.12 $0.00 Workmen's compensation 115,007.19 37,364.03 Liability other than auto 18,760.65 2,661.61 Surety 28,816.69 80,474.66 AutomobUe 3,380.92 12,385.45 Miscellaneous 3,177.80 4,041.27 Total $170,886.37 $136,927.02 Premiirm tax paid in Canal Zone $2,563.30 RELIANCE INSURANCE COMPANY (No transactions in Canal Zone during 1969)

PAGE 12

ROYAL INDEMNITY COMPANY Net Losses Premiums Paid Auto physical damage $165.83 $0.00 LiabUity other than auto ( B.I. ) 65.08 0.00 AutoliabUity (B.I.) 126.89 0.00 Auto property damage 98.76 0.00 Surety 0.00 (Cr.) 53,441.05 Total $456.56 (Cr.) $53,441.05 Premium tax paid in Canal Zone $6.85 SEABOARD SURETY COMPANY (No transactions in Canal Zone during 1969) TRANSAMERICA INSURANCE COMPANY (No transactions in Canal Zone diuing 1969) TRAVELERS INDEMNITY COMPANY Net Losses Premiums Paid Suret)' $135.00 $0.00 Liability other than auto (B.I.) 293.00 0.00 Property damage than auto 6.00 0.00 Total $434.00 $0.00 Premium tax paid in Canal Zone $6.51 UNITED STATES FIDELITY AND GUARANTY COMPANY Net Losses Premiums Paid Extended coverage $48.00 5>0.00 Auto collision 55,016.00 41,435.65 Fire 3,147.00 0.00 Inland marine 200.00 0.00 Accident 50.00 0.00 Workmen's compensation 18,811.44 7,838.71 Liability other than auto (B.I.) 4,808.00 2,739.00 Auto liabihty (B.I.) 54,990.00 2,905.42 Auto property damage 32,624.00 33,276.46 Auto physical damage 35,483.00 13,446.05 Property damage other than auto 1,754.00 501.95 Fidelity 6,089.00 1,000.00 Surety 937.50 (Cr.) 2,904.57 Burglary and theft 4,062.00 6,928.67 Miscellaneous 613.00 0.00 Glass (Cr.) 130.90 0.00 Total $218,502.04 $107,167.34 Premium tax paid in Canal Zone $3,277.53 8

PAGE 13

AMERICAN-AMICABLE LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 16 $113,702.00 Policies issued during 1969 0.00 Total 16 $113,702.00 Ceased to be in force during 1969 2 6,000.00 Policies in force December 31, 1969 14 $107,702.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 1 14,761.00 Total 1 $14,761.00 Settled during 1969 1 14,761.00 Unpaid December 31, 1969 $0.00 Group— None Net premiiuns collected in Canal Zone during 1969: Life Insurance $2,389.45 Accident and Health 0.00 Total $2,389.45 Premium tax paid in Canal Zone . $35.84 AMERICAN CAPITOL INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 1,074 $4,806,053.00 Policies issued during 1969 700 5,485,838.00 Total 1,774 $10,293,891.00 Ceased to be in force during 1969 633 4,126,855.00 Policies in force December 31, 1969 1,141 $6,167,036.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 5 11,021.32 Total 5 $11,021.32 Setded during 1969 5 11,021.32 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $160,145.82 Accident and Health 9,623.10 Total $169,768.92 Premimn tax paid in Canal Zone $2,546.53 9

PAGE 14

AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY OF NEW YORK Ordinary— None Group Number Amount Policies in force December 31, 1968 1 $333,3u2.00 Policies issued during 1969 18,298.00 Total 1 $351,600.00 Ceased to be in force diu-ing 1969 0.00 Policies in force December 31, 1969 1 $351,600.00 Losses and claims: Unpaid December 31, 1968 $597.28 Incurred during 1969 0.00 Total $597.28 SetUed during 1969 597.28 Unpaid December 31, 1969 $0.00 Net premiiuns collected in Canal Zone during 1969: Life Insurance $6,245.86 Accident and Health 0.00 Total $6,245.86 Premium tax paid in Canal Zone $93.69 BANKERS LIFE INSURANCE COMPANY OF AMERICA Ordinary Number Amount Policies in force December 31, 1968 1,105 $4,399,404.00 Policies issued during 1969 0.00 Total 1,105 $4,399,404.00 Ceased to be in force during 1969 91 362,894.00 Policies in force December 31, 1969 1,014 $4,036,510.00 Losses and claims: Unpaid December 31, 1968 1 $2,500.00 Incurred during 1969 4 12,750.00 Total 5 $15,250.00 Settled during 1969 3 2,750.00 Unpaid December 31, 1969 2 $12,500.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $132,383.74 Accident and Health 0.00 Total $132,383.74 Premium tax paid in Canal 2^ne $1,985.75 10

PAGE 15

BENEFICIAL NATIONAL LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) CITIZENS STANDARD LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 1,734 $6,177,lo0.00 Policies issued during 1969 25 1,281,107.00 Total 1,759 $7,458,287.00 Ceased to be in force during 1969 112 1,562,143.00 Policies in force December 31, 1969 _ 1 _ J 1 1,647 $5,896,144.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 -::^:„ _, I .. _ 5 13,980.00 Total 5 $13,980.00 Settled during 1969 5 13,980.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $176,384.41 Accident and Health 64,547.40 Total $240,931.81 Premiiun tax paid in Canal Zone $3,613.97 EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES Ordinary— None* Group Number Amount Policies in force December 31, 1968 $0.00 Policies issued during 1969 NA* Total $0.00 Ceslsed to be in force during 1969 '. NA Policies in force December 31, 1969 0^ $0.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 NA 403,656.50 Total O" $403,656.50 Settled during 1969 NA 403,656.50 Unpaid December 31, 1969 $0.00 Net premiums collected in Canal Zone during 1969: Life Insurance $31,501.95 Accident and Health 3,203.57 Total $34,705.52 Premium tax paid in Canal Zone $520.58 ' Figures not available.

PAGE 16

EXECUTIVE FUND LIFE INSURANCE COMPANY Ordinary— None Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $0.00 Accident and Health ^ 581.10 Total $581.10 Premium tax paid in Canal Zone $8.72 FIDELITY AND GUARANTY LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 61 $323,088.00 Policies issued during 1969 11 432,120.00 Total 72 $755,208.00 Ceased to be in force during 1969 12^ 432,197.00 Policies in force December 31, 1969 60 $323,011.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $7,640.91 Accident and Health 0.00 Total $7,640.91 Premium tax paid in Canal 2k>ne $114.61 12

PAGE 17

THE GIBRALTAR LIFE INSURANCE CX)MPANY OF AMERICA Ordinary Number Amount Policies in force December 31, 1968 1,248 $8,891,631.00 Policies issued during 1969 71 791,059.00 Total 1,319 $9,682,690.00 Ceased to be in force during 1969 120 760,950.00 Policies in force December 31, 1969 1,199 $8,921,740.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 22 36,583.10 Total 22 $36,583.10 Settled during 1969 22 36,583.10 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $228,084.06 Accident and Health 10.00 Total $228,094.06 Premium tax paid in Canal Zone $3,421.41 JACKSON NATIONAL LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) 13

PAGE 18

LINCOLN NATIONAL LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 621 $4,137,759.00 Policies issued during 1969 1 1,500.00 Total 622 $4,139,259.00 Ceased to be in force during 1969 48 371,146.00 Policies in force Etecember 31, 1969 574 $3,768,113.00 Losses and claims: Unpaid December 31, 1968 2 $97,149.00 Incurred during 1969 8 31,500.00 Total 10 $128,649.00 Settled during 1969 9 118,649.00 Unpaid December 31, 1969 1 $10,000.00 Group Policies in force December 31, 1968 $44,507.00 Policies issued during 1969 0.00 Total $44,507.00 Ceased to be in force during 1969 2,159.00 Policies in force December 31, 1969 ___r::u____ $42,348.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Net premiums collected in Canal Zone during 1969: Life Insurance $97,362.14 Accident and Health 1,379.63 Total $98,741.77 Premium tax paid in Canal Zone $1,481.13 14

PAGE 19

NATIONAL WESTERN LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 8 $81,219.00 Policies issued during 1969 10 45,047.00 Total 18 $126,266.00 Ceased to be in force during 1969 2 20,523.00 Policies in force December 31, 196916 $105,743.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Groxjp— None Net premiums collected in Canal Zone during 1969: Life Insurance $1,929.18 Accident and Health 0.00 Total $1,929.18 Premium tax paid in Canal Zone $28.94 PAN-AMERICAN LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 llO $l,073,3u5.00 Policies issued during 1969 7 65,000.00 Total 117 $1,138,305.00 Ceased to be in force during 1969 6 20,629.00 Policies in force December 31, 1969 111 $1,117,676.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $36,197.09 Accident and Health 0.00 Total $36,197.09 Premium tax paid in Canal Zone $542.96 15

PAGE 20

PENINSULAR LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) UNITED BENEFIT LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 523 $2,6«U,2j3.00 Policies issued during 1969 54 586,639.00 Total 577 $3,266,922.00 Ceased to be in force during 1969 39 264,808.00 Policies in force December 31, 1969 538 $3,002,114.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 3 25,000.00 Total 3 $25,000.00 Setded during 1969 1 10,000.00 Unpaid December 31, 1969 2 $15,000.00 Group Policies in force December 31, 1968 3 $112,553,960.00 Policies issued during 1969 0.00 Total 3 $112,553,960.00 Ceased to be in force during 1969 1 298,410.00 Policies in force December 31, 1969 2 $112,255,550.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 86 416,750.00 Total 86 $416,750.00 Settled during 1969 83 407,750.00 Unpaid December 31, 1969 3 $9,000.00 Net premiums collected in Canal Zone during 1969: Life Insurance $752,027.67 Accident and Health 11,703.57 Total $763,731.24 Premium tax paid in Canal 2^ne $11,455.96 16

PAGE 21

UNITED SERVICES LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 323 $3,814,525.00 Policies issued during 1969 179 2,129,768.00 Total 502 $5,944,293.00 Ceased to be in force during 1969 238 2,771,783.00 Policies in force December 31, 1969 264 $3,172,510.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 1 1,500.00 Total 1 $1,500.00 Settled during 1969 1 1,500.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $65,629.42 Accident and Health 0.00 Total $65,629.42 Premiima tax paid in Canal Zone $984.44 UNITED STATES LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 23 $368,869.00 Policies issued during 1969 23.00 Total 23 $368,892.00 Ceased to be in force dming 1969 1 18,275.00 Policies in force December 31, 1969 22 $350,617.00 Losses and claims: Unpaid December 31, 1968 $0.00 In cmred during 1969 3 32,840.00 Total 3 $32,840.00 Settled during 1969 2 27,840.00 Unpaid December 31, 1969 1 $5,000.00 17

PAGE 22

Group Policies in force December 31, 1968 1 $197,000.00 Policies issued during 1969 0.00 Total T $197,000.00 Ceased to be in force during 1969 (-) 35,000.00 Policies in force December 31, 1969 1 $232,000.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0-00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Net premiums collected in Canal Zone during 1969: Life Insurance $9,386.36 Accident and Health 8,535.59 Total $17,921.95 Premium tax paid in Canal Zone $268.83 WABASH LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) WORLD SERVICE LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 49 $456,326.00 Policies issued during 1969 2 17,500.00 Total 51 $473,826.00 Ceased to be in force during 1969 11_ 107,612.00 Policies in force December 31, 1969 40 $366,214.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Setried during 1969 0^ Unpaid December 31, 1969 _ $0.00 Group— None Net premiums collected in Canal Zone dining 1969: Life Insurance $6,956.24 Accident and Health 0.00 Total $6,956.24 Premium tax paid in Canal Zone $104.34 18

PAGE 23

RECAPITULATION MISCELLANEOUS COMPANIES Net Losses Premiums Paid Accident $50.00 $0.00 AutomobUe and motor vehicle 327,792.06 1 14,286.83 Auto comprehensive 7,487.62 2,950.26 Auto coUision 90,291.60 54,375.30 Auto hability (B.I.) 150,750.93 14,814.99 Auto property damage 86,499.93 103,297.77 Auto physical damage 118,873.51 56,972.35 Burglary and theft 9,873.00 20,626.14 Extended coverage 474.69 0.00 Fidelity 8,930.00 3,864.35 Fire 90,441.65 50,342.30 Glass (Cr.) 95.90 0.00 Group accident and health 21,968.83 47,615.56 Health and accident (includes hospital and medical) 2,649,641.46 2,092,048.66 Inland marine 5,435.70 1,370.00 Liability other than auto 31,442.41 7,026.31 Miscellaneous 42,511.08 9,646.45 Ocean Marine 1,717.00 0.00 Property damage other than auto 4,276.68 501.95 Surety 86,410.93 24,176.79 Workmen's compensation 345,310.23 163,939.16 Total $4,080,083.41 $2,767,855.17 Premium taxes paid in Canal Zone $61,263.08 LIFE INSURANCE COMPANIES Ordinary Number Policies in force December 31, 1968 6,895 Policies issued during 1969 1,060 Total 7,955 Ceased to be in force during 1969 1,315 Policies in force December 31, 1969 6,640 Losses and claims: Unpaid December 31, 1968 3 Incurred during 1969 52 Total 55 Settled during 1969 49 Unpaid December 31, 1969 6 Amount $37,325,344.00 10.835,601.00 $48,160,945.00 10,825,815.00 $37,335,130.00 $99,649.00 179,935.42 $279,584.42 237,084.42 $42,500.00 19

PAGE 24

Group Number Amount Policies in force December 31, 1968 5 $113,128,769.00 Policies issued during 1969 18,298.00 Total 5 $113,147,067.00 Ceased to be in force during 1969 1 265,569.00 Policies in force December 31, 1969 4 $112,881,498.00 Losses and claims: Unpaid December 31, 1968 $597.28 Incurred during 1969 86 820,406.50 Total 86 $821,003.78 Settled during 1969 83 812,003.78 Unpaid December 31, 1969 3 $9,000.00 Net premiums collected in Canal Zone during 1969: Life Insurance $1,714,264.30 Accident and Health 99,583.96 Total $1,813,848.26 Premium tax paid in Canal Zone $27,207.70 The relatively small amount of fire insurance business written is due to the fact that practically all structures in the Canal Zone are owned by the Government of the United States and are not covered by fire insurance. Following is a statement of property in the Canal Zone involved in fires and the damages resulting therefrom during the year ended December 31, 1969. Value of Amount of property damage involved by fire Panama Canal Company $14,794,360.27 $8,824.07 Canal Zone Government 4,115,991.87 59.00 Other U.S. Government 101,320.00 50.00 U.S. Armed Forces 10,214,645.62 213,447.99 Ships in Canal waters 39,216,000.00* 15,330.00' Private property other than above 2,385,497.01 22,242.23 Total $70,627,814.77 $259,953.29 " Complete figures unavailable. The following is an extract from Tide 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. 20

PAGE 25

CANAL ZONE CODE-TiUe 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 desii'es to engage in the Canal Zone; (2) A copy, duly certified by the officer authorized by law to ceiiify 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 diiectors 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 tlie 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 knowTi 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 certfficate of an authorized official, showing that the company is authorized to transact business in the State or covmtry under whose laws the company is organized; 21

PAGE 26

(2) A duly certified copy of the last annual statement of the insurance company to an authorized official in the State or coimtry 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 insm-ance policies that it may issue. Sec. 874. Annual statement and license tax for insurance companies.— An insurance company hcensed 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 companv 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 l^/z percent of its net premium receipts ia 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 contraiy 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. 22

PAGE 27

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. (c) Every contract made by or on behalf of such a corporation aflFecting 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 coi-poration 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 b)' 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 serv'ed upon the executive secretary of the Canal Zone Government; (5) A post office address to which the executive secretaiy 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. (h) The license shall be attached to the certificate of surrender unless the license has been lost or destioyed, in which case there shall be attached an affidavit of the president, vice president, secretary, assistant secretaiy, 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 anv agent for the serx'ice 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 secretaiy of the Canal Zone Govemment in any action upon a liabilit)' or obligation incurred within the Canal Zone prior to the revocation or the filing of the certificate of surrender. 23

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(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 a£Fect any action pending at the time. 31805—550 24

PAGE 31

UNIVERSITY OF FLORIDA 3 1262 04728 2891



PAGE 1

(ZZi3l%l ^ CANAL ZONE GOVERNMENT ANNUAL REPORT OF INSURANCE BJ transacted i CANAL Z< DURING THE CALENDAR YEAR 1969 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 1969 Including Laws Concerning Licensing Of Insurance Companies

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Digitized by the Internet Archive in 2009 with funding from University of Florida, George A. Smathers Libraries http://www.archive.org/details/annualreportofin1969cana

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CANAL ZONE GOVERNMENT OFFICE OF THE GOVERNOR Balboa Heights, June 1, 1970. Governor of The Canal Zone, Balboa Heights, C.Z. Sir: There is submitted herewith a report of insurance business transacted in the Canal Zone during the calendar year 1969. Respectftdly, Faxhu M. Rxjnnestrand, Executive Secretary. The following companies were authorized to transact business in the Canal Zone during the year 1969: Aetna Casualty and Surety Company Hartford, Conn. American-Amicable Life Insurance Company Birmingham, Ala. American Capitol Insurance Company Houston, Tex. American Employers' Insurance Company Boston, Mass. American Home Assurance Company New York, N.Y. American International Life Assurance Company of New YorkNew York, N.Y. American Motorists Insurance Co Chicago, 111. Bankers Life Insurance Company of America Dallas, Tex. Beneficial National Life Insurance Company^ New York, N.Y. Citizens Standard Life Insurance Company Corpus Christi, Tex. Colonial Insurance Company of Panama Panama, R. of P. Commercial Insurance Company Newark, N.J. Compaiiia General de Seguros, S.A Panama, R. of P. Compafiia Interamericana de Seguros, S.A Panama, R. of P. Compaiiia Intemacional de Seguros, S.A Panama, R. of P. Compafiia Istmeiia de Seguros, S.A Panama, R. of P. 1 Beneficial National Life Insurance Company licensed in the Canal Zone June 23, 1969.

PAGE 6

Compania Nacional de Seguros, S.A Panama, R. of P. Continental Casualty Company Chicago, 111. Continental Insurance Company New York, N,Y. Equitable Life Assurance Society of the United States^ New York, N.Y. Executive Fund Life Insurance Co Omaha, Nebr. Fidelity and Casualty Company of New York New York, N.Y. Fidelity and Deposit Company Baltimore, Md. Fidelity and Guaranty Life Insurance Company Baltimore, Md. Firemen's Insurance Company of Newark Newark, N.J. General Insurance Company of America Seattle, Wash. Gibraltar Life Insurance Company of America Dallas, Tex. Great American Insurance Company New York, N.Y. Hartford Accident and Indemnity Company Hartford, Conn. Insurance Company of North America Philadelphia, Pa. International Senice Insurance Company Fort Worth, Tex. Jackson National Life Insurance Company" Jackson, Mich. 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 Suret)Corporation New York, N.Y. National Union Fiie Insurance Company Pittsburgh, Pa. National Western Life Insurance Company Denver, Colo. Panama Insurance Company, Inc Panama, R. of P. Pan-American Life Insurance Company New Orleans, La. Peninsular Life Insurance Company Jacksonville, Fla. Reliance Insurance Company Philadelphia, Pa. Royal Indemnity Company New York, N.Y. Seaboard Surety Company New York, N.Y. Transamerica Insurance Company San Francisco, Calif. Travelers Indemnity Company Hartford, Conn. United Benefit Life Insurance Company Omaha, Nebr. United Services Life Insurance Co Washington, D.C. United States Fidelity and Guaranty Company Baltimore, Md. United States Life Insurance Company in the City of New YorkNew York, N.Y. Wabash Life Insurance Co Indianapolis, Ind. World Sei-vice Life Insurance Company Forth Worth, Tex. 2 Equitable Life Assurance Society of the United States licensed in the Canal Zone, March 24, 1969. 3 Jackson Naiional Life Insurance Company licensed in the Canal Zone July 1, 1969.

PAGE 7

AETNA CASUALTY AND SURETY COMPANY (No transactions in Canal Zone during 1969) AMERICAN EMPLOYERS' INSURANCE COMPANY Net Losses Premiums Paid Workmen's compensation $1.32 $0.00 LiabUity other than auto (B.I.) 42.38 0.00 Property damage other than auto 0.99 0.00 Auto LiabUity ( B.I.) 3.96 0.00 Auto property damage 2.64 0.00 Auto physical damage 3.63 0.00 Total $54.92 $0.00 Premium tax paid in Canal Zone $0.82 AMERICAN HOME ASSURANCE COMPANY (No transactions in Canal Zone during 1969) AMERICAN MOTORISTS INSURANCE COMPANY (No transactions in Canal Zone during 1969) COLONIAL INSURANCE COMPANY OF PANAMA Net Losses Premiums Paid Liability Other than auto $317.00 $81.70 Auto liability (B.I.) 49,965.49 1,252.30 Auto property damage 29,815.49 20,128.46 Automobile and motor vehicle 17,884.29 4,079.37 Auto comprehensive 7,267.18 2,950.26 Auto collision 34,777.93 12,939.65 Fire 718.47 0.00 Burglary and theft _ 170.00 0.00 Miscellaneous 10.00 0.00 Total $140,925.85 $41,431.74 Premium tax paid in Canal Zone $2,113.89

PAGE 8

COMMERCIAL INSURANCE COMPANY Net Premiums Automobile and motor vehicle $237.00 Workmen's compensation 80,824.80 Miscellaneous 19,507.73 Total $100,569.53 Premium tax paid in Canal Zone $1,508.54 COMPA5rlA GENERAL DE SEGUROS, S.A. Net Premiums Fire $50.00 Surety 2,798.24 Liability other than auto 282.57 Workmen's compensation 17,363.77 Auto comprehensive 220.44 Auto liability (B.I.) 447.55 Auto collision 497.67 Auto property damage 327.64 Extended coverage 82.69 Hospital and medical 55.45 Total $22,126.02 Premium tax paid in Canal Zone $331.89 COMPANIA INTERAMERICANA DE SEGUROS, S.A. Net Premiums Auto liability ( B.I. ) $45.81 Workmen's compensation 5,605.04 Fii« 5,859.15 Automobile 46,341.50 Total $57,851.50 Premiimi tax paid in Canal Zone $867.77 COMPAJSJIA INTERNACIONAL DE SEGUROS, S.A. Net Premiums Miscellaneous $3,306.36 Total $3,306.36 Premium tax paid in Canal Zone $49.60 COMPA5JIA ISTMENA DE SEGUROS, S.A. (No transactions in Canal Zone during 1969) COMPANIA NACIONAL DE SEGUROS, S.A. Net Premiums Workmen's compensation $52,511.58 Total $52,511.58 Premium tax paid in Canal Zone $787.67 •Complete infonnation unavailable. 4 Losses Paid $226.50 44,768.80 3,430.98 $48,426.28 Losses Paid $0.00 0.00 0.00 2,852.17 0.00 0.00 0.00 0.00 0.00 0.00 $2,852.17 Losses Paid $0.00 3,572.00 0.00 6,244.21 ^9,816.21 Losses Paid $0.00 $0.00 Losses Paid $0.00' $0.00

PAGE 9

CONTINENTAL CASUALTY COMPANY Net Losses Premiums Paid Accident and health $1,444.93 $ol0.00 Group accident and health 2,458.31 3,984.37 Inland marine 7.70 30.00 Auto liabihty (B.L) (Cr.) 81.57 0.00 Auto property damage 2.60 528.75 Auto physical damage 66.16 424.08 Total $3,898.13 $5,777.20 Premium tax paid in Canal Zone $58.47 CONTINENTAL INSURANCE COMPANY Net Losses Premiums Paid Fire $lUU.U0 $0.00 Auto liability ( B.I. ) (Cr.) 2,117.00 0.00 Auto property damage (Cr.) 708.00 0.00 Auto physical damage (Cr.) 1,496.00 0.00 Surety 100.00 0.00 Miscellaneous 0.00 19.72 Total (Cr.) $4,121.00 $19.72 Premium tax paid in Canal Zone $0.00 FIDELITY AND CASUALTY COMPANY OF NEW YORK Net Losses Premiums Paid Surety $2U.U0 $0.00 Miscellaneous 80.00 0.00 Workmen's compensation 0.00 123.33 Total $100.00 $123.33 Premium tax paid in Canal 2^ne $1.50 FIDELITY AND DEPOSIT COMPANY OF MARYLAND Net Losses Premiums Paid Fidelity$419.00 $0.00 Surety 6,135.00 0.00 Total $6,554.00 $0.00 Premiiun tax paid in Canal Zone $98.31 FIREMEN'S INSURANCE COMPANY OF NEWARK Net Losses Premiums Paid Fire $74,063.91 $38,342.30 Automobile and motor vehicle 259,948.35 91,351.30 Miscellaneous 15,569.19 2,154.48 Workmen's compensation 8,182.31 12,529.00 Total $357,763.76 $144,377.08 Premium tax paid in Canal Zone $5,366.46

PAGE 10

GENERAL INSURANCE COMPANY OF AMERICA (No transactions in Canal Zone during 1969) GREAT AMERICAN INSURANCE COMPANY (No transactions in Canal Zone during 1969) HARTFORD ACCIDENT AND IDEMNITY COMPANY Net Losses Premiums Paid Fire $505.00 $0.00 Workmen's compensation 562.00 0.00 Liability other than auto (B.I.) 338.00 1,500.00 Property damage other than auto 19.00 0.00 Extended Coverage 146.00 0.00 .•\uto property damage0.00 18.19 Auto physical damage (Cr.) 159.00 0.00 Surety 33.00 0.00 Total $1,444.00 $1,518.19 Premiimi tax paid in Canal Zone $21.66 INSURANCE CO^^PANY OF NORTH AMERICA Net Premiums Ocean marine $1,717.00 Surety ( Cr.) 331.00 Total $1,386.00 Premiimi tax paid in Canal Zone $20.79 INTERNATIONAL SERVICE INSURANCE COMPANY Net Premiums Auto liability (B.I.) $9,255.90 Auto property damage 4,960.10 Auto physical damage 29,009.02 Total $43,225.02 Premium tax paid in Canal Zone $648.38 THE LIBERTY MUTUAL INSURANCE COMPANY Net Premiums Health and accident $86.00 Liabihty other than auto (B.I.) 165.00 Property damage other than auto 96.00 Total $347.00 Premium tax paid in Canal Zone $5.21 Losses Paid $0.00 0.00 $0.00 Losses Paid $590.25 6,743.36 17,986.99 $25,320.60 Losses Paid $0.00 0.00 0.00 $0.00

PAGE 11

MARYLAND CASUALTY COMPANY Net Losses Premiums Paid Accident and health $1,741.71 $2,067.93 Group accident and health 2,313.13 341.25 Auto liability ( B.L ) 38,113.90 10,067.02 Liability other than auto (B.I.) 6,370.73 44.00 Fidelity 2,422.00 2,864.35 Surety 47,766.50 47.75 Glass 35.00 0.00 Burglary and theft 5.641.00 13,697.47 Auto property damage 19,376.70 42,602.55 Inland marine 5,228.00 1,340.00 Property damage other than auto 2,400.69 0.00 Workmen's compensation 46,440.78 54,891.12 Auto physical damage 55,800.87 25,115.23 Fire 4,255.00 12,000.00 Extended coverage 198.00 0.00 Miscellaneous 247.00 0.00 Total $238,351.01 $165,078.67 Premium tax paid in Canal Zone $3,575.27 MUTUAL OF OMAHA INSURANCE COMPANY Net Losses Premiums Paid Group accident and health $17,197.39 $43,269.94 Individual and health 2,646,313.37 2,089,170.73 Total $2,663,510.76 $2,132,460.67 Premium tax paid in Canal Zone $39,952.66 NATIONAL SURETY CORPORATION (No transactions in Canal Zone during 1969) NATIONAL UNION FIRE INSURANCE COMPANY (No transactions in Canal Zone during 1969) PANAMA INSURANCE COMPANY Net Losses Premiums Paid Fire $1,743.12 $0.00 Workmen's compensation 115,007.19 37,364.03 Liability other than auto 18,760.65 2,661.61 Surety 28,816.69 80,474.66 AutomobUe 3,380.92 12,385.45 Miscellaneous 3,177.80 4,041.27 Total $170,886.37 $136,927.02 Premiirm tax paid in Canal Zone $2,563.30 RELIANCE INSURANCE COMPANY (No transactions in Canal Zone during 1969)

PAGE 12

ROYAL INDEMNITY COMPANY Net Losses Premiums Paid Auto physical damage $165.83 $0.00 LiabUity other than auto ( B.I. ) 65.08 0.00 AutoliabUity (B.I.) 126.89 0.00 Auto property damage 98.76 0.00 Surety 0.00 (Cr.) 53,441.05 Total $456.56 (Cr.) $53,441.05 Premium tax paid in Canal Zone $6.85 SEABOARD SURETY COMPANY (No transactions in Canal Zone during 1969) TRANSAMERICA INSURANCE COMPANY (No transactions in Canal Zone diuing 1969) TRAVELERS INDEMNITY COMPANY Net Losses Premiums Paid Suret)' $135.00 $0.00 Liability other than auto (B.I.) 293.00 0.00 Property damage than auto 6.00 0.00 Total $434.00 $0.00 Premium tax paid in Canal Zone $6.51 UNITED STATES FIDELITY AND GUARANTY COMPANY Net Losses Premiums Paid Extended coverage $48.00 5>0.00 Auto collision 55,016.00 41,435.65 Fire 3,147.00 0.00 Inland marine 200.00 0.00 Accident 50.00 0.00 Workmen's compensation 18,811.44 7,838.71 Liability other than auto (B.I.) 4,808.00 2,739.00 Auto liabihty (B.I.) 54,990.00 2,905.42 Auto property damage 32,624.00 33,276.46 Auto physical damage 35,483.00 13,446.05 Property damage other than auto 1,754.00 501.95 Fidelity 6,089.00 1,000.00 Surety 937.50 (Cr.) 2,904.57 Burglary and theft 4,062.00 6,928.67 Miscellaneous 613.00 0.00 Glass (Cr.) 130.90 0.00 Total $218,502.04 $107,167.34 Premium tax paid in Canal Zone $3,277.53 8

PAGE 13

AMERICAN-AMICABLE LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 16 $113,702.00 Policies issued during 1969 0.00 Total 16 $113,702.00 Ceased to be in force during 1969 2 6,000.00 Policies in force December 31, 1969 14 $107,702.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 1 14,761.00 Total 1 $14,761.00 Settled during 1969 1 14,761.00 Unpaid December 31, 1969 $0.00 Group— None Net premiiuns collected in Canal Zone during 1969: Life Insurance $2,389.45 Accident and Health 0.00 Total $2,389.45 Premium tax paid in Canal Zone . $35.84 AMERICAN CAPITOL INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 1,074 $4,806,053.00 Policies issued during 1969 700 5,485,838.00 Total 1,774 $10,293,891.00 Ceased to be in force during 1969 633 4,126,855.00 Policies in force December 31, 1969 1,141 $6,167,036.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 5 11,021.32 Total 5 $11,021.32 Setded during 1969 5 11,021.32 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $160,145.82 Accident and Health 9,623.10 Total $169,768.92 Premimn tax paid in Canal Zone $2,546.53 9

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AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY OF NEW YORK Ordinary— None Group Number Amount Policies in force December 31, 1968 1 $333,3u2.00 Policies issued during 1969 18,298.00 Total 1 $351,600.00 Ceased to be in force diu-ing 1969 0.00 Policies in force December 31, 1969 1 $351,600.00 Losses and claims: Unpaid December 31, 1968 $597.28 Incurred during 1969 0.00 Total $597.28 SetUed during 1969 597.28 Unpaid December 31, 1969 $0.00 Net premiiuns collected in Canal Zone during 1969: Life Insurance $6,245.86 Accident and Health 0.00 Total $6,245.86 Premium tax paid in Canal Zone $93.69 BANKERS LIFE INSURANCE COMPANY OF AMERICA Ordinary Number Amount Policies in force December 31, 1968 1,105 $4,399,404.00 Policies issued during 1969 0.00 Total 1,105 $4,399,404.00 Ceased to be in force during 1969 91 362,894.00 Policies in force December 31, 1969 1,014 $4,036,510.00 Losses and claims: Unpaid December 31, 1968 1 $2,500.00 Incurred during 1969 4 12,750.00 Total 5 $15,250.00 Settled during 1969 3 2,750.00 Unpaid December 31, 1969 2 $12,500.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $132,383.74 Accident and Health 0.00 Total $132,383.74 Premium tax paid in Canal 2^ne $1,985.75 10

PAGE 15

BENEFICIAL NATIONAL LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) CITIZENS STANDARD LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 1,734 $6,177,lo0.00 Policies issued during 1969 25 1,281,107.00 Total 1,759 $7,458,287.00 Ceased to be in force during 1969 112 1,562,143.00 Policies in force December 31, 1969 _ 1 _ J 1 1,647 $5,896,144.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 -::^:„ _, I .. _ 5 13,980.00 Total 5 $13,980.00 Settled during 1969 5 13,980.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $176,384.41 Accident and Health 64,547.40 Total $240,931.81 Premiiun tax paid in Canal Zone $3,613.97 EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES Ordinary— None* Group Number Amount Policies in force December 31, 1968 $0.00 Policies issued during 1969 NA* Total $0.00 Ceslsed to be in force during 1969 '. NA Policies in force December 31, 1969 0^ $0.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 NA 403,656.50 Total O" $403,656.50 Settled during 1969 NA 403,656.50 Unpaid December 31, 1969 $0.00 Net premiums collected in Canal Zone during 1969: Life Insurance $31,501.95 Accident and Health 3,203.57 Total $34,705.52 Premium tax paid in Canal Zone $520.58 ' Figures not available.

PAGE 16

EXECUTIVE FUND LIFE INSURANCE COMPANY Ordinary— None Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $0.00 Accident and Health ^ 581.10 Total $581.10 Premium tax paid in Canal Zone $8.72 FIDELITY AND GUARANTY LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 61 $323,088.00 Policies issued during 1969 11 432,120.00 Total 72 $755,208.00 Ceased to be in force during 1969 12^ 432,197.00 Policies in force December 31, 1969 60 $323,011.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $7,640.91 Accident and Health 0.00 Total $7,640.91 Premium tax paid in Canal 2k>ne $114.61 12

PAGE 17

THE GIBRALTAR LIFE INSURANCE CX)MPANY OF AMERICA Ordinary Number Amount Policies in force December 31, 1968 1,248 $8,891,631.00 Policies issued during 1969 71 791,059.00 Total 1,319 $9,682,690.00 Ceased to be in force during 1969 120 760,950.00 Policies in force December 31, 1969 1,199 $8,921,740.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 22 36,583.10 Total 22 $36,583.10 Settled during 1969 22 36,583.10 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $228,084.06 Accident and Health 10.00 Total $228,094.06 Premium tax paid in Canal Zone $3,421.41 JACKSON NATIONAL LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) 13

PAGE 18

LINCOLN NATIONAL LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 621 $4,137,759.00 Policies issued during 1969 1 1,500.00 Total 622 $4,139,259.00 Ceased to be in force during 1969 48 371,146.00 Policies in force Etecember 31, 1969 574 $3,768,113.00 Losses and claims: Unpaid December 31, 1968 2 $97,149.00 Incurred during 1969 8 31,500.00 Total 10 $128,649.00 Settled during 1969 9 118,649.00 Unpaid December 31, 1969 1 $10,000.00 Group Policies in force December 31, 1968 $44,507.00 Policies issued during 1969 0.00 Total $44,507.00 Ceased to be in force during 1969 2,159.00 Policies in force December 31, 1969 ___r::u____ $42,348.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Net premiums collected in Canal Zone during 1969: Life Insurance $97,362.14 Accident and Health 1,379.63 Total $98,741.77 Premium tax paid in Canal Zone $1,481.13 14

PAGE 19

NATIONAL WESTERN LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 8 $81,219.00 Policies issued during 1969 10 45,047.00 Total 18 $126,266.00 Ceased to be in force during 1969 2 20,523.00 Policies in force December 31, 196916 $105,743.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Groxjp— None Net premiums collected in Canal Zone during 1969: Life Insurance $1,929.18 Accident and Health 0.00 Total $1,929.18 Premium tax paid in Canal Zone $28.94 PAN-AMERICAN LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 llO $l,073,3u5.00 Policies issued during 1969 7 65,000.00 Total 117 $1,138,305.00 Ceased to be in force during 1969 6 20,629.00 Policies in force December 31, 1969 111 $1,117,676.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $36,197.09 Accident and Health 0.00 Total $36,197.09 Premium tax paid in Canal Zone $542.96 15

PAGE 20

PENINSULAR LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) UNITED BENEFIT LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 523 $2,6«U,2j3.00 Policies issued during 1969 54 586,639.00 Total 577 $3,266,922.00 Ceased to be in force during 1969 39 264,808.00 Policies in force December 31, 1969 538 $3,002,114.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 3 25,000.00 Total 3 $25,000.00 Setded during 1969 1 10,000.00 Unpaid December 31, 1969 2 $15,000.00 Group Policies in force December 31, 1968 3 $112,553,960.00 Policies issued during 1969 0.00 Total 3 $112,553,960.00 Ceased to be in force during 1969 1 298,410.00 Policies in force December 31, 1969 2 $112,255,550.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 86 416,750.00 Total 86 $416,750.00 Settled during 1969 83 407,750.00 Unpaid December 31, 1969 3 $9,000.00 Net premiums collected in Canal Zone during 1969: Life Insurance $752,027.67 Accident and Health 11,703.57 Total $763,731.24 Premium tax paid in Canal 2^ne $11,455.96 16

PAGE 21

UNITED SERVICES LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 323 $3,814,525.00 Policies issued during 1969 179 2,129,768.00 Total 502 $5,944,293.00 Ceased to be in force during 1969 238 2,771,783.00 Policies in force December 31, 1969 264 $3,172,510.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 1 1,500.00 Total 1 $1,500.00 Settled during 1969 1 1,500.00 Unpaid December 31, 1969 $0.00 Group— None Net premiums collected in Canal Zone during 1969: Life Insurance $65,629.42 Accident and Health 0.00 Total $65,629.42 Premiima tax paid in Canal Zone $984.44 UNITED STATES LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 23 $368,869.00 Policies issued during 1969 23.00 Total 23 $368,892.00 Ceased to be in force dming 1969 1 18,275.00 Policies in force December 31, 1969 22 $350,617.00 Losses and claims: Unpaid December 31, 1968 $0.00 In cmred during 1969 3 32,840.00 Total 3 $32,840.00 Settled during 1969 2 27,840.00 Unpaid December 31, 1969 1 $5,000.00 17

PAGE 22

Group Policies in force December 31, 1968 1 $197,000.00 Policies issued during 1969 0.00 Total T $197,000.00 Ceased to be in force during 1969 (-) 35,000.00 Policies in force December 31, 1969 1 $232,000.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0-00 Total $0.00 Settled during 1969 0.00 Unpaid December 31, 1969 $0.00 Net premiums collected in Canal Zone during 1969: Life Insurance $9,386.36 Accident and Health 8,535.59 Total $17,921.95 Premium tax paid in Canal Zone $268.83 WABASH LIFE INSURANCE COMPANY (No transactions in Canal Zone during 1969) WORLD SERVICE LIFE INSURANCE COMPANY Ordinary Number Amount Policies in force December 31, 1968 49 $456,326.00 Policies issued during 1969 2 17,500.00 Total 51 $473,826.00 Ceased to be in force during 1969 11_ 107,612.00 Policies in force December 31, 1969 40 $366,214.00 Losses and claims: Unpaid December 31, 1968 $0.00 Incurred during 1969 0.00 Total $0.00 Setried during 1969 0^ Unpaid December 31, 1969 _ $0.00 Group— None Net premiums collected in Canal Zone dining 1969: Life Insurance $6,956.24 Accident and Health 0.00 Total $6,956.24 Premium tax paid in Canal Zone $104.34 18

PAGE 23

RECAPITULATION MISCELLANEOUS COMPANIES Net Losses Premiums Paid Accident $50.00 $0.00 AutomobUe and motor vehicle 327,792.06 1 14,286.83 Auto comprehensive 7,487.62 2,950.26 Auto coUision 90,291.60 54,375.30 Auto hability (B.I.) 150,750.93 14,814.99 Auto property damage 86,499.93 103,297.77 Auto physical damage 118,873.51 56,972.35 Burglary and theft 9,873.00 20,626.14 Extended coverage 474.69 0.00 Fidelity 8,930.00 3,864.35 Fire 90,441.65 50,342.30 Glass (Cr.) 95.90 0.00 Group accident and health 21,968.83 47,615.56 Health and accident (includes hospital and medical) 2,649,641.46 2,092,048.66 Inland marine 5,435.70 1,370.00 Liability other than auto 31,442.41 7,026.31 Miscellaneous 42,511.08 9,646.45 Ocean Marine 1,717.00 0.00 Property damage other than auto 4,276.68 501.95 Surety 86,410.93 24,176.79 Workmen's compensation 345,310.23 163,939.16 Total $4,080,083.41 $2,767,855.17 Premium taxes paid in Canal Zone $61,263.08 LIFE INSURANCE COMPANIES Ordinary Number Policies in force December 31, 1968 6,895 Policies issued during 1969 1,060 Total 7,955 Ceased to be in force during 1969 1,315 Policies in force December 31, 1969 6,640 Losses and claims: Unpaid December 31, 1968 3 Incurred during 1969 52 Total 55 Settled during 1969 49 Unpaid December 31, 1969 6 Amount $37,325,344.00 10.835,601.00 $48,160,945.00 10,825,815.00 $37,335,130.00 $99,649.00 179,935.42 $279,584.42 237,084.42 $42,500.00 19

PAGE 24

Group Number Amount Policies in force December 31, 1968 5 $113,128,769.00 Policies issued during 1969 18,298.00 Total 5 $113,147,067.00 Ceased to be in force during 1969 1 265,569.00 Policies in force December 31, 1969 4 $112,881,498.00 Losses and claims: Unpaid December 31, 1968 $597.28 Incurred during 1969 86 820,406.50 Total 86 $821,003.78 Settled during 1969 83 812,003.78 Unpaid December 31, 1969 3 $9,000.00 Net premiums collected in Canal Zone during 1969: Life Insurance $1,714,264.30 Accident and Health 99,583.96 Total $1,813,848.26 Premium tax paid in Canal Zone $27,207.70 The relatively small amount of fire insurance business written is due to the fact that practically all structures in the Canal Zone are owned by the Government of the United States and are not covered by fire insurance. Following is a statement of property in the Canal Zone involved in fires and the damages resulting therefrom during the year ended December 31, 1969. Value of Amount of property damage involved by fire Panama Canal Company $14,794,360.27 $8,824.07 Canal Zone Government 4,115,991.87 59.00 Other U.S. Government 101,320.00 50.00 U.S. Armed Forces 10,214,645.62 213,447.99 Ships in Canal waters 39,216,000.00* 15,330.00' Private property other than above 2,385,497.01 22,242.23 Total $70,627,814.77 $259,953.29 " Complete figures unavailable. The following is an extract from Tide 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. 20

PAGE 25

CANAL ZONE CODE-TiUe 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 desii'es to engage in the Canal Zone; (2) A copy, duly certified by the officer authorized by law to ceiiify 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 diiectors 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 tlie 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 knowTi 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 certfficate of an authorized official, showing that the company is authorized to transact business in the State or covmtry under whose laws the company is organized; 21

PAGE 26

(2) A duly certified copy of the last annual statement of the insurance company to an authorized official in the State or coimtry 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 insm-ance policies that it may issue. Sec. 874. Annual statement and license tax for insurance companies.— An insurance company hcensed 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 companv 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 l^/z percent of its net premium receipts ia 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 contraiy 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. 22

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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. (c) Every contract made by or on behalf of such a corporation aflFecting 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 coi-poration 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 b)' 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 serv'ed upon the executive secretary of the Canal Zone Government; (5) A post office address to which the executive secretaiy 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. (h) The license shall be attached to the certificate of surrender unless the license has been lost or destioyed, in which case there shall be attached an affidavit of the president, vice president, secretary, assistant secretaiy, 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 anv agent for the serx'ice 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 secretaiy of the Canal Zone Govemment in any action upon a liabilit)' or obligation incurred within the Canal Zone prior to the revocation or the filing of the certificate of surrender. 23

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(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 a£Fect any action pending at the time. 31805—550 24

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UNIVERSITY OF FLORIDA 3 1262 04728 2891


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