Full resolution (JPEG) - On this page / på denna sida - VIII. Money and Banking
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being the Sea Insurance Company, with Herr Uno
Kurtén as manager, and a capital of 2 million marks;
and two mutual associations; but the largest business
in this department is done by foreigners. A small
Finnish company insures glass, and two Finnish
companies insure horses and cattle. The one in Åbo for
the insurance of horses has 3½ million marks of
policies, and there is a general company for Finland
with 4½ million policies. Foreign companies insure
against theft.
With regard to insurance against personal accidents,
we have already mentioned the new law of 1895,
enforcing a general insurance of workmen for this
purpose. There are two Finnish companies for
voluntary insurance; the Patria, whose manager is Herr
Axel Lille, and the Kullervo, each with half a million
marks of capital, besides reserves. There are also
three Russian and one Swiss company doing business.
The six mutual assurance societies formed by various
manufacturers have fewer expenses than the public
companies, their cost varying from 4 to 13 per cent.,
the smaller cost attaching to the association of
the saw-mill owners, which is the largest society.
The expenses of the companies vary from 22½ per
cent. in the Patria to 28½ per cent. in the
Internationale Unfalls-Versicherungsgesellschaft. At the
end of 1899 about a thousand firms had insured
50,000 workmen against accidents incapacitating them
for long periods and against death, and 17,000
workmen against minor accidents.
Among life insurance companies two are Finnish
companies; the Kaleva, whose manager is Herr Uno
Kurtén, and the Suomi, whose manager is Herr E.
Kaslin, with 2 millions and half a million capital
respectively, besides reserves. In 1899 they had 114
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