MICHIGAN FIRE & MAOINt IS. C0.                          627
UNDERLWRITING AND INVESTMENT EXHIBIT.
-.        =         .   -    -       -
UNDERWRITING EXHIBIT.             I
Premiums.
Total premiums .................          $91,921 681 ...............
Add unpaid return    and  reinsurancel              I
premiun's Dec. 31 of previous year..      6,159 811.
Total ..                        1 $698,081 491 .
Deduct unpaid return and reinsurancel               I
premiums Dec. 31, end of the year... I    5,255 251.
Balance ...............$......... 1  692,826 24..
Add unearned premiums Dec. 31 of                    l
previous year .......................   584,087 581
Total ..            ...... I $1,276,9913 8211.
Deduct unearned premiums Dec. 31,1                  l
end of the year ............             629,093 911.
Premiums earned during the year .... I.............. 1  $647,819 911.
UNDERWRITING PROFIT AND &
LOSS ITEMS.
Gain from agents' balances previously l                           l
charged oft ........               1          $1 631.
Loss from agents' balances charged off         25 361.
Loss from above .................              $23 731.
Agents' balances and bills
receivable not admitted
Dec. 31, 1911 ............  $1,044 57 ......       ..............
Agents' balances and bills
receivable not admitted             l             |
Dec. 31, end of the year.   3,607 531.............. I......
Loss from above ..................... 1     2,562 961 ..............
Loss from   underwriting   profit and                             I
loss items   ...........  .......... .........          2,586 691.
Underwriting income earned during1
the year .....                       .............. ..............  $645,233
22
LOSSES.
Losses paid ..........................   $371,532 01. .
Deduct unpaid losses Dec. 31 of pre-1
vious year ......            .   ...     69,558 55 ..........
Balance ..           ...... 1       $301,973 461 .......  .. I
Add unpaid losses Dec. 31, end of thel              I
year .............................       65,520 231 .......      l
Losses incurred during the year...... ..............I $367,493 691.
UNDERWRITING EXPENSES. l
'Underwriting expenses paid    duringl
the year .....                      1  $305,722 12 ........    . .
Deduct underwriting expenses unpaidl
Dec. 31 of previous year....... "I'l    13,042 54 .....I". 1
Balance .             ... 1 $292,679 581 .
Add underwriting    expenses unpaidl                I             l
Dec. 31, end of the year.............    13,403 061..........    .....
Underwriting expenses incurred dur-1
ing the year .           ..........                    306,082 641.
Underwriting losses and expenses....I............................      673,576
33
Loss from underwriting during thel
year .                                                    .         $28,343
It
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