BRITISH AMERICA ASSURANCE CO.


903


UNDERWRITING         AND   INVESTMENT EXHIBIT-Continued.
UNDERWRITING EXPENSES.               |
I                ' I              I
Underwriting    expenses paid    duringl
1912 ...............................      $463,456 511 ............
Deduct underwriting expenses unpaidl                   I              I
IDec. 81, 1911 ..........                   16,607 081 .......
Balance .... $ $446,849 431.                                  -         
  .1
Add   underwriting    expenses   unpaidl               I              I
Dec. 31, 1912 ..       .......             20,624 451 ....     ... I............
*      I             ~       ~      ~  ~~I  I
Underwriting expenses incurred dur-I
ina  1912.. *----------------1-'-------                  467,473 881..............
Underwriting losses and expenses .....    ............. .............I 1,038,754
09
Loss from   underwriting during 19121        ..    ..     ..........    $111,609
98
INVESTMENT EXHIBIT.               I              I
Interest and Rents.           I              I              I
Interest, dividends and rents receivedl                I              I
dluring the year ....................I    $39,484 131 ........       I
Deduct interest, dividends and rents                   1              I
.accrued Dec. 31, 1911 ......               20,934 73 ............
J.-I
Balance .-.        ..      .......     $38,549 40 ...........   .
Add interest, dividends and rents ac-1                 I
crued Dec. 31, 1912 ..................      21,051 39! ...      .... 1
Add Interest and rents paid in ad-I                    I              I
vance Dec. 31, 1911 .............                        $59.O00  91.
PROFIT     ON  INVESTMENTS.          I             I              I
Gain from   sale of ledger assets ...... I..............        7 70 001.
I              I       -      l
Investment income earned during 19121 .                                 
   9,670 7(9
*    I              I              1
LOSS ON     INVESTMENTS.
Loss from    change in   difference he-I
twNeen book and market value duir-1                I              I
ing 1912 ...I....................... -1  ............    $13,645 561    
 . .....
INVESTMENT EXPENSES.               I             I              I
Investment expenses paid during 19121 ..............I     1   1,708 961.
Investment losses and expenses dur-                    I
ing  1912  ............................  ..............  ...........    
15.354  52
Gain from investments during 1912 .................j..............      
 $ $44 316 2,7
MISCELLANEOUS         EXHIB-IT.     I                  G Gain in  I   Loss
in
I              I  Surplus.       S Slrplus.
Remittances to home office ..............................    . .      I 
 $10,584 6S
Net loss from above.                        .       .I $10,584 68
Total gainus and losses in surplus dur-      -         I
ing 1912 ...................I........ ...............    $44,316 271   $122,194
66
Surplus Dec. 31, 1911 ......1              $493,044 631 ............ I
Surplus  Dec.  31,  1912  .................1  415,166  441 .............
1.
Decrease in surplus during 1912      .     ............. 1  77.878 391.
I         ~       ~~I     I            *
Totals         .          .I........ ............... 1  $122,194 66I  $122,194
66
Per cent of losses incur red to premiums earned, 61.60.
Per cent of underwriting expenses incurred to premiums earned. 50.40
Per cent of investment expenses incurred to interest and rents earned, 2.87.
Per cent of total losses and expenses incurred and dividends declared to
total
income earned, 106.92.