Insurance And the State

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25 28. 50 6 TO 6 MILLION IN- CREASE Union Central . . . 1910 1901 10, 424, 600 5, 340, 670 12. 45 15. 26 4. 66 9. 61 22. 21 27. 08 6 TO 10 MILLION IN- CREASE Mutual Benefit . . . Penn Mutual . . . 1910 1901 1910 1901 19, 632, 149 10, 839, 495 17, 858, 958 8, 830, 040 11. 41 10. 35 12. 90 15. 65 5. 28 5. 40 4. 12 5. 93 19. 48 20. 13 20. 46 26. 39 OVER 10 MILLION IN- CREASE N. Y. Life Northwestern Mutual . 1910 1901 1910 1901 79, 547, 606 54, 435, 814 38, 743, 935 22, 609, 544 8. 83 17. 07 10. 79... 11. 88 3. 60 6. 46 3. 67 4. 25 14. 24 25. 35 17. 12 19. 73 [51 INSURANCE AND THE STATE to ten million group, 3. 29 per cent; and for the over ten million group, 6. 85 per cent. If, how- ever, it is objected that a grouping according to increase in premium receipts with reference to the expenses is not a test of the relation of ex- pense to increase in business because of the fact that a small company may show an enormous increase in premium receipts during the decade, while a large company may show a small increase, and because, further, that a particular company may have sold a large number of large premium policies, such as endowments, which would not mean unduly large proportional increase in amount of insurances in force, the following statement may be given of the business of the twenty-one leading companies for the decade 1901-1910.

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