Open Collections

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BRITISH COLUMBIA
The name of the Progressive Insurance Company of Canada was changed to London
and Midland General Insurance Company; Regal Insurance Company Limited to Global
General Insurance Company; The Hanover Fire Insurance Company to The Hanover
Insurance Company; Fire Association of Philadelphia to Reliance Insurance Company;
and Essex and Suffolk Equitable Insurance Society Limited to Essex and Suffolk Insurance Company Limited.
A complete list of insurers will be found on pages 9 to 36. A similar list, made
up to December 31st, 1958, was published in The British Columbia Gazette. For the
purposes of convenience the present list is made up to June 30th, 1959, so that it includes
insurers licensed since December 31st, 1958, and shows the classes of insurance for
which all insurers are now licensed.
On analysis the list shows that 52 companies (exclusive of fraternal societies) were
licensed for life insurance, 247 for fire insurance, 229 for automobile insurance, and 109
for marine insurance. These figures cover only the major classes of insurance, and it
should be understood that the same company may be licensed, for example, for fire, automobile, and marine insurance.
The annual statements of the companies holding Provincial licences only are set
forth at length on pages 37 to 48.
There were three underwriters' agencies licensed under the Act, and the list appears
on page 36.
The taxes collected on unlicensed insurance amounted to $7,949.46.
The number of insurance agents' and salesmen's licences issued for the year 1958
is given below, together with a comparative table for the previous four years:—
Licences Issued to—
1958
1957
1956
1955
1954
2,068
1,604
919
64
135
1,904
1,570
929
57
130
1,722
1,571
1,006
52
98
1,644
1,617
903
48
70
1,611
1,576
908
49
71
4,790
4,590
4,449
4,282
4,215
The number of real-estate agents' and salesmen's licences issued under the " Real
Estate Act" for the year 1958/59 in comparison with the previous four years is as
follows:—
Licences Issued to—
1958/59
1957/58
1956/57
1955/56
1954/55
1,032
3,809
1,032
3,476
1,009
3,035
990
2,932
997
2,593
Totals                 .           .              	
4,841
4,508
4,044
3,922
3,590
Respectfully submitted.
E. T. CANTELL,
Superintendent of Insurance.            D 20
BRITISH COLUMBIA
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U       REPORT OF THE SUPERINTENDENT OF INSURANCE, 1958
D 27
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3          REPORT OF THE SUPERINTENDENT OF INSURANCE, 1958
D 37
Annual Statements of Provincial Licensees
B.C.F.G. MUTUAL HAIL INSURANCE COMPANY
Head Office—Kelowna, B.C.
E. M. Tait.
C. W. Husband.
E. A. Titchmarsh.
Directors
J. Luthy.
J. B. M. Clarke.
E. A. Titchmarsh, President.
C. M. Nettleton.
D. P. Fraser.
N. R. C. Pooley.
Statement for the Year Ended December 31st, 1958
Assets
Bonds (book value)  	
Cash on hand and in banks
Interest due and accrued 	
Premiums uncollected prior to October 1st, 1958
Stocks (book value) 	
  $38,508.75
  30,112.94
    270.00
  1,203.75
  50.00
$70,145.44
Deduct assets not admitted—
Premiums uncollected prior to October 1st, 1958        $1,203.75
Investment—Stocks unauthorized   50.00
         1,253.75
$68,891.69
Liabilities
Reinsurance premiums        $1,388.69
Guarantee stock—
Authorized        $50,000.00
Subscribed        18,730.00
Paid up      $18,730.00
Reserve Fund        48,773.00
Surplus         67,503.00
$68,891.69
Profit and Loss Account
Premiums earned (net)   $ 140,430.09
Claims incurred (net)   $115,532.52
Adjustment expenses          5,310.00
Operating fee to Fruit Growers Mutual Insurance Company       23,147.82
     143,990.34
Underwriting loss        $3,560.25
Other revenue—Interest earned  .         1,399.09
Net loss      $2,161.16
Returns for British Columbia
(See page 61.)
Statements of Provincial companies are checked and are amended, if necessary, and are published
in this Report subject to inspection.               D 52
BRITISH COLUMBIA
TABLE IV.—FIRE INSURANCE PREMIUMS AND LOSSES FOR 1958
(Figures shown in nearest dollar.)
Name of Insurer
Net
Premiums
Written
Net
Premiums
Earned
Net Losses
Incurred
Ratio of
(3)to (2)
(1)
$197,111
37,633
284
125,282
113,745
64,547
63,973
18,382
53,099
2,990
25,505
6,114
115,141
—896
11,892
55,317
106,938
86,245
14,916
4,449
31,954
185,588
34,952
7,000
7,802
12,427
20,797
62,213
20,939
48,728
22,978
38,027
133,334
8,348
12,762
(2)
$168,202
56,707
142
160,738
136,084
9,098
44,103
22,509
42,059
4,958
27,569
12,053
93,540
9,745
52,922
105,860
96,841
27,556
19,636
26,698
122,518
—2,741
13,554
27,655
70,189
16,103
142,318
41,630
90,322
(3)
$86,177
22,290
Per Cent
51.23
39.31
99,668
70,886
2,418
16,576
8,377
29,479
2,532
7,071
6,050
46,898
8,164
6,193
24,899
48,891
45,903
9,988
12,044
—3,155
93,197
2,501
11,462
7,828
8,983
7,246
— 126,903
14,095
31,763
8,012
26,127
81,103
5,965
7,312
62.00
52.09
26.58
37.58
37.22
70.10
51.07
25.65
50.19
50.14
63.55
47.05
46.18
47.40
36.25
61.34
76.07
84.57
28.30
12.80
45.00
33.86
35.17
40,349
137,554
8,564
13,711
64.75
58.96
69.65
53.33
39,946
27,616
5,081
148,034
40,032
16,512
185,152
86,684
15,671
33,168
54,484
246,934
28,000
12,796
132,850
-255
108,438
9,013
74,409
163,425
641
53,094
28,249
10,669
95,812
31,745
40,124
122,927
115,903
51,185
13,809
7,802
50,690
23,052
1,830
120,081
19,195
23,808
168,472
90,245
15,335
18,680
53,746
193,553
20,158
17,267
89,695
-467
86,033
7,132
85,113
142,210
2,534
44,990
29,790
20,355
69,078
34,690
25,396
119,225
103,984
36,607
11,526
27,655
14,946
7,988
3,661
51,420
27,108
5,914
65,603
33,043
6,667
19,298
27,440
120,835
13,090
5,334
106,750
249
54,531
2,669
39,060
43,293
167
20,078
15,628
21,617
39,535
20,099
14,951
32,082
66,082
21,337
3,994
7,828
29.49
34.65
200.05
42.82
141.22
24.84
38.94
36.61
43.47
103.31
51.05
62.42
64.94
30.89
119.02
63.38
37.42
45.89
30.44
6.59
44.63
52.46
106.20
57.23
57.94
58.87
26.91
63.55
Dominion of Canada General Insurance Co.           .;, .
58.28
34.65
F.aglfl Star Tnsur!<nr« Cn. ltd,
28.30
$3,750,466
$3,590,404
$1,642,337