1102                        UNION    MARINE INS, CO.
UNDERWRITING AND INVESTMENT EXHIBIT.
'UNDERWRITING        EXHIBIT.
Premiums.                 I
'Total premiums ...................         $916,127 98!
Deduct unpaid return and reinsurancel
premiums Dec. 31, 1912 .         ..........  104,253 76!3..          I
Balance               .............   $811,874 221 ..........................
Add unearned premiums Dec. 31, 19111         179,687 491 ..    .        I..............
Total ........................... 1   $991,561 711 ..........     I     .
Deduct unearned     premiums Dec. 31,1                  1              1
1912 .............            .            167,777 701 .
I       .    . Ii
Premiums earned during 1912 ....................... 1      $823,784 011.
IJNDERWRITING PROFIT AND
LOSS ITEMS.                 I              1
Gain from agents' balances previouslyI
charged off ........................ 1        $812 941.
Agents' balances and bills
receivable not admitted               I               F
Dec. 31, 1911 ............ $43,593 561 ........        I............ I
Agents' balances and bills                              1
receivable not admitted
Dec. 31, 1912 ............   13,614 161 .......        I
Gain from   above ................            29,979.401 ............ I
I r
Gain   from  uniderwriting   profit andl                I              I
loss items .......                                   1 .   30,792 341.
Uijdlerxvritlng  income earned   during! -                             F
1912 ..                                              ,               1 $854,576
35
LOSSES.
Lo.,ses pli(.1 $5458.12 261 ............ I
D~educt unpaid losses Dec. 31, 1911....!     138,673 34!.1
1a1 lau . II ce  ........................ 1   $407,138 92 .  .... I
Add unpaid losses Dec. 31, 1912 ....... 1    175,893 031 .
Losses incurred during 1912 .........................I     $583,031 95!.
UNDERWRITING EXPENSES.                I           - I               F
Underwriting    expenses   paid  during!
1912 .D                                   $212,242 681 ........       I
Dedut 1ndernwriting expenses unpaidl !
Dec. 31, 1911 .........                1    20,500 001!..............I............
Balance ..... 1 $191,742 681 .........                            1
Add   underwriting    expenses   unpaidl                I              I
Dec. 31, 1912 .........                1    30,902 271 .......  ..
I            --!              I
Underwriting expenses Incurred dur-1                    I              1
Ing 1912 ............................. 1                  222,644 951.
I              1              1
Underwriting losses and expenses .....    .............F............. l 
   805,676 90
Gain from       underwriting during 1912.1 ..-..   .                    
   $48,899 45
Gain~~~~~~~~                                       ~     ~   ~~~  ~ froml
.F .   $48,899 45G.