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ALIEN INSURANCE COMPANIES ACT.
(591
ranteed capital, which is to be gradually replaced by accumulated
profits), namely
The Allmänna Lifförsäkringsbolaget (from 1887), Balder (1887), Odén
(1889), Svenska Lifförsäkringsbolaget (1891), Svenska
Arbetarförsäkringsbolaget Valand (1895), Nordiska Folkförsäkringsaktiebolaget Union
(1895; at the beginning of 1900 amalgamated with Valand), Svecia (1898),
Lif- och sjukförsäkringsaktiebolaget Vasa (1898), Allmänna
Pensionsförsäkringsbolaget (1898), Vanadis (1899: dissolved in 1901) and Svenska
Arbetar försäkringsanstalten Trygg (1899). Then came Brage (1900),
Nornan (1900, the latter also amalgamated with Valand), Kronan (1902;
dissolved in 1913), Stockholm (1906), Kristna Vänner (1911) and
Framtiden (1911). To these fall to be added 21 agencies for foreign
companies. The business transacted by the companies in 1912 and the balance
at the close of the year is shown by the following summary, in million of
kronor.
Companies
Gross [-premiums
Premiums-]
{+pre-
miums
Pre-
miums+}
for
reinsurance
Compensations
paid
by
reinsurers
gross
[-Insurance-]
{+Insuran-
ce+} funds
at the
end of
the year
Insurances held
at the end of
the year
gross
re-amount insured
Swedish joint-stock companies . 26-69 5 07 13’72 164 228’88 862-92 155’61
Swedish mutual companies . . 19 64 1 75 4’84 0’34 97’79 598-13 90’15
Total Swedish companies 46’33 6’82 18-56 1-98 326’27 1461 05 245’76
Foreign companies.......165_— ’Q-80_—_—_50’47_—
Total 47-98 6-82 19 36 1 98 32627 1511-52 245 76
1 The figures are only for compensations paid at death.
The life insurances held at the close of 1912 numbered 1 322 293, out
of which 817 830 were with the Swedish joint-stock companies, 488 063
with the mutual companies, and 16 400 with foreign companies. To this
must be added altogether 6 359 annuities, to a total annual amount of
2 700 839 kronor, and 1 019 capital insurances, aggregating 2 451 882
kronor.
The funds appropriated to dividends and bonuses by the Swedish
companies during the same year amounted to 3 373 508 kronor; the cash
dividends to policy-holders for the year to 2 534 957 kronor.
The most common of the forms of life insurance are ordinary life insurance,
with the payment of premiums during the whole period of life or only during
certain years, and endowment insurance, in which the insurance sum is paid
at a certain age (as a rule 55 or 60), or previously in the event of death. Since
the early nineties children’s insurances are also undertaken: in these children’s
insurances the actual liability of the insurance company does not come into effect
until the age of 15 has been attained, although the payment of the premiums
begins in the usual manner on the insurance being taken. Among other forms
of insurance may be mentioned insurance with a fixed term of payment (à terme
fixe), widows’ pension insurance, survivors’ annuity insurance, equipment
insurances of divers kinds, short term insurance, insurance on two lives, and divers
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