The last year proved a successful one for the West Coast Life Insurance Company, according to the annual report recently issued by Mr. Arnold Dewar, manager for China of the Company. The annual report covers the year ending on December 3l, 1937. Summarized, the report points Out that admitted assets total U.S. $23,885,723.28, an increase for the year of U.S$12210534, Bonds, other than those carried under amortization values, are entered in the statement at market or less. The cowpany's holding of stocks is small being only 3.17 per cent. of the total assets, and the market value as of December 31, 1937 of these stocks was U.S.$50,- 70093 greater than the book value at which they are entered in the statement.
The total of capital stock, surplus and contingency reserve amounts to U.S.$1,372,256.62, which is additional protection for policyholders. The total earnings for the year were U.S.$230,396.37. OF. this amount U.S.$37,500 was paid in dividends to stockholders during the year, and U.S$17,61741 added to surplus.
The insurance in force increased to U.S$118,105,902. "Mem premiums totaled U.S$707,80119, showing an increase of 6.8 per cent. over the previous year. Total premiums, new and renewal were U.S$4, 81628, showing an increase of 17.5. $129,464.68 or 3.2 per cent. over the previous year.
Text read from the printed page and cleaned; old type leaves the occasional error.