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690
xi. banking, credit, and insurance.
were reinsured; the takings in the form of premiums for these insurances
were 15-8 million kronor, and the compensations paid out totalled 10-6
million kronor. The gross value of the Swedish insurances should thus
aggregate over 12-9 milliards of kronor; in order then to find the net
amount of fire insurance for Sweden, one must, of course, deduct from
the gross total the amounts reinsured in Swedish companies or in the
Swedish general agencies of foreign companies, and add to it any
insurances taken direct from the Company abroad and not reinsured in
Sweden. How the gross insurance sum is distributed between real and
movable property is not, clearly shown by the figures.
Life insurance —- at any rate in the form of funeral benefits — as well
as several other kinds of personal insurance, was practised by the ancient
guilds, though in more or less rudimentary forms. But modern life
insurance based on scientific principles was first introduced into Sweden
by the Skandia Fire and Life Insurance Company (1855), which
was next succeeded by Svea (1867). The first Swedish
joint-stock-company with solely life insurance (in a wide sense: life, life annuity, and
capital insurance) was Nordstjernan (1872). Next came Thule (1873),
which by the principles on which it was constituted afforded a transition
to the mutual companies, Victoria (1883) and Norrland (1890); Skåne
(1884) also transacts fire insurance business, while, on the other hand,
Nordpolen (1897) is only a life insurance company.
Besides this, there were 14 mutual companies (most of them with gua-
Table 141. The Life Insurance Business of the Swedish Companies.
Annually Premiums1 kronor Compensations paid1 kronor Insurance funds at end of period kronor Amount of
life-insurance at end of periods kronor Amount of life insurance
per-head of pop. kronor
1855 33 833 33 483 1 382 300 0-38
1856 -60. . . . 233 820 66 399 552 508 10 069 997 I 2-61
1861 -65. . . . 334 859 121115 1 203 892 12 531 002 305
1866 -70. . . . 595 743 201 797 2 244 220 23 486 931 563
1871- -75. . . . 1 508 940 369 559 6 240 578 58 948 152 13-45
1876- -80. . . . 2 559 708 843 014 12 224 764 84 377 828 18-48
1881- -85. . . . 4 433 236 1 455 629 23 768 849 155 677 025 33-24
1886- -90. . . . 7 668 032 2 432 461 44 333 121 259 860 821 54-31
1891- -95. . . . 10 829 806 3 940 730 73 567 205 360 479 566 73-28
1896 -00. . . . 15 875 476 5 852 263 118 231 719 598 855 440 116-59
1901- -05. . . . 22 627 589 8 588 878 180117 387 883 306 873 166-82
1906 -10. . . . 31140 224 13 410 529 268 700 458 1 239 396 628 224-45
1911- -12. . . . 39 505 031 16 582 338 326 671 254 1461050 841 260-71
1 The figures for the insurance amounts refer only to actual life insurances; the other
figures, on the other hand comprise also life annuity and capital insurances, and the like.
The figures up to 1895, inclusive, show net amounts; and are the same as in the previous
edition of this work. The figures from 1896, inclusive, correspond to the official figures in
the publication "Meddelanden angående försäkringsväsendet i riket, 3", and show net amounts.
— 3 In the case of one company it has been possible to reckon these net amounts only
approximately for the periods from 1866 to 1885.
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