562


INSURANCE COMPANY OF NORTH AMERICA.
U\ND1ERWRITTNG AND INVESTMENT EXRIBIT-Continued.


I  ~          .            I
Deduct unearned premiums Dec. 31,1                      j
1912, and $728,939.48 reclaimiable on                 I
perpetual insurance .7,5839,248 591 ..                      -    .. I.........
Premiums earned during 1912 ......... .............. .$9,114,523 61!.
UNDEIRLWRITING       PROFIT AND        I              I|
LOSS ITEMS.
Gaiii from  aegnts' balances previously
charged ofi', $656.54, and from otherl                I
underwriting income, $3,028.73 ......       $3,685 271 ......................
   .
Loss from agents' balances charged off          2,253 811 .....................
   .
Gain from    above ....................       $1,431 46!.
Agents' balances and bills
receivable not admitted                               I              I
Dec. 31, 1911..             $11,496 231 ........       I             I
Agents' balances and bills               I              I
receivable not admitted                I              I
Dec. 31, 1912 ...........     18,198 401 ...........
Loss from above ......................         6,702 17 ....      ... |
Loss from    underwriting    profit and
loss items .......................... ..............         5,270 71.
Underwriting    income earned    during|
1912 .$................                                                $9,109,252
90
LOSSES.                  I               I
Losses paid .......................... $5,007,610 81! ...........       .
Deduct salvage and     reinsurance   re-
coverable Dec. 31, 1912 ..............       8 1,330 52 ......        .
Balance .......................... $4,926,280 291 ..........
Add salvage and     reinsurance   recov-
erable Dec. 31, 1911 .................     109,387 65 .......         .
Total ...........................   $5,035,667 94 !..............-.-.-.-.-.-.-.
Deduct unpaid losses Dec. 31, 1911 ....    1,188,100 00! ...........    .
Balance ........................ $3,847,567 94. .
Add unpaid losses Dec. 31, 1912 .......    1,341,600 00. .
Losses incurred during 1912       .     . .............. $5,189,167 94.
UNDERWRITING EXPENSES.
Underwriting    expenses paid    during                 I
1912 .................................   $3,382,667 46 ...........    . 
     .
Deduct underwriting expenses unpaid                                    I
Dec. 31, 1911 .    ......................   90,000 00°°1. ----  
  .'1---.
Balance .           ....             $ $3,292,667 461 ...........  .    
 .
Add   underwriting    expenses   unpaidl                I              I
Dec. 31, 1912 .                            1701,000 00.1 ................
Underwriting expenses incurred dur-!                  .                I
ing 1912 ..............................        .       1 3,462,667 461.
Underwriting losses and expenses...............................         
8 8,651,835 40
Gain fro  unerritng  urng  911 ..................... 4574I  I  __
Gain from underwriting during 1912! l..I.... $457,417 50
*      1=  =   =-I-=      =   =-=       =-