Page images
PDF
EPUB

Division of

UNIDERWRITING STATEMENT OF INSURANCE WRITTEN

Fluc- . "Net tuation in Net d - reserve Jet earne * **** Net liability Polo for un--| premium Losses paid earned premium Commercial insurance underwritten, pursuant to sec. 221 (a) (2) of Public Law 583

Commercial, hull-------------------- $1,456,520.00, $36,319.40 1 $32,000 $68,319.40 $600.0.
Commercial, crew-------------------|----------------|------------- 1257,000 7,000.00-------------
Extended, second seamen's---------- 65, 500,000.00 228, 100.00 100,000 128, 100.00; 427, 748.33
Facultative, cargo.------------------- 2,404, 756.66 36, 169. 19, 198,800. 134,969. 19. t;5.499. ;
Warship, open cargo----------------- 1,815, 250, 018. 1025, 895, 489.95 ---------- 25, 895,489.95, 7,517,408.49.
Warship, open freight---------------- 1,724, 710. 21 68, 020. 57|---------- 68,020. 571------ -------
Warship, repair----------------------
Armed forces------------------------
Coast Guard, life--------------------

Total--------------------------
Net credit--------------------------------------------------------------------------------------------

[merged small][merged small][merged small][merged small][ocr errors][ocr errors][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][merged small][merged small][merged small][merged small]
[graphic]
[graphic]
[graphic]
[graphic]
[merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][ocr errors][ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][ocr errors][merged small][merged small][merged small][graphic][graphic][graphic]

Division of Wartime Insurance—Continued
UNDERWRITING STATEMENT OF INSURANCE WRITTEN FROM INCEPTION TO JUNE 30, 1944

[ocr errors][merged small][merged small][merged small][merged small][merged small][merged small][merged small][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][ocr errors][merged small]
[ocr errors]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]

Mr. WIGGLEsworth. The reason I asked my original question was that I understand the law requires a detailed statement annually, and I have never happened to see anything which, in my judgment, was a detailed statement. Admiral LAND. That is available, and we will put it in the record, (The statement referred to is as follows:)

Division of Wartime Insurance—Profit and loss statement

Fiscal year—

1942

1943

Debit

Credit Debit

Credit

1944 debit

Commercial insurance underwritten pursuant to sec. 221 (a) of Public Law 523-

Other commercial insurances underwritten-------

Insurance covering vessels chartered or requisitioned by War Shipping Administration and crews of vessels owned, chartered, or requisitioned by War Shipping Administration.-

Total insurance issued against $250,000,000 marire and war risk insurance fund ($100,000,000 transferred from war risk fund to revolving fund in the fiscal year of 1945, thereby making total amount of marine and war risk fund now $150,000,000), net

$19,408,404.83

16,638,045.05

$41,485. 26 - $949,412.72

$10,943,754. 72

32, 547, 565.41

36,004,964.62

42, 541,907.41

Fiscal year
1944

First 6 months of fiscal
year 1945

Total

Credit

Debit Credit

Debit

Credit

Commercial insurance underwritten pursuant to sec. 221 (a) of Public Law 523__

Other commercial insurances underwritten

chartered or requisitioned by, War Shipping Admin-, istration and crews of vessels owned, chartered, or requisitioned by War Shipping Administration.-

Total insurance issued
against $250,000,000
marine and war risk
insurance fund
($100,000,000 trans-
ferred from war risk
fund to revolving
fund in the fiscal
year of 1945, thereby
makingtotal amount
of marine and war
risk fund now $150,-
000,000), net------- --

$13,553,638.98
4,758,041.58

24, 203,860.51

$789, 187.87 -
91, 602.75

| $13,090,041.98

$3,798,211.28

$11,856, 523.65

53,203,422.85

42,515,541.07

12, 209,251.36

61,261,735,22 [All vessels under United States registry unless otherwise indicated]

[graphic]
[graphic]

Mr. WIGGLEsworth. You say that the total number of ships insured is how many?

Admiral LAND. There are 874. All chartered ships are insured.

Mr. WIGGLEsworth. In the past year?

Admiral LAND. No; that is the total. We have not broken it down by years. We can do that for you if you want to have it, and give it to you for the past year.

Mr. WIGGLEsworth. How many of those would have been insured on a basis other than the basis of $56.25 per dead-weight ton?

Admiral LAND. It depends on the type of ship. This rate would be the value for the standard 20-year-old 10-knot cargo ship or tanker, which would be the largest portion provided for, and the others are different types and they take a different value.

Mr. WIGGLEsworth. And the majority would be based on the basic rate'

Admiral LAND. Yes.

DATA ON VESSELS UNDER CHARTER TO THE UNITED STATES OF AMERICA

Mr. WIGGLEsworth. Could we have a table that would show for the other ships the age, tonnage, coverage, and payments, if any?

Admiral LAND. Yes; we could do that.

(The statement of values is as follows:)

Vessels under charter time and bareboat passenger dry cargo and tankers to War
Shipping Administration as of Apr. 1, 1945, showing year built, name of vessel,
dead-weight tons, and valuation
ExPLANATION OF code
A—Valued at 56.25 per dead-weight ton
B—Valued at less than 56.25 per dead-weight ton
C—Value not determined
JC–Just compensation
NC–No charter
VEssELs UNDER BAREBOAT CHARTER TO THE WAR SHIPPING ADMINISTRATION

DeadVessels wo Owners .# o: Value ons

4, 200 Horace X. Baxter Steamship Co. ----4, 590 United Fruit Steamship Corporation . Pope & Talbot, Inc. (McCormick St ship division). Acadia (passenger)--------- 2,500 | Eastern Steamship Lines, Inc Achilles. --------------- American Steamship Co., Inc Adabelle Lykes (Cl-A) Lykes Bros. Steamship Co., Inc -----Waterman Steamship Corporation.---

Absaroka -

Agwilines, Inc -

Alaska (pass - 2,420 Alaska Steamship Co
4. ona (Cl-B) (now 9,075 Alcoa Steamship Co., Inc
turtga).

Alcoa Patriot (Cl-B)------- 9,395 ----- do--------------------------------------- 1941
Alcoa Polaris (Cl–B) -- - - - - 8,958 ---- do---------------------- 1942
Aleutian (passenger)------- 3,210 || Alaska Steamship Co ------ 1906
4%ic---------------------- 8,830 Seas Shipping Co., Inc. -- 1920
Algonquin (passenger)----- 2,800 Agwilines, Inc.------------- 1926
Alparado------------------- * * Moore Mill & Lumber Co. 1914
American Builder -------- 9, 140 United States Lines Co------ __ 1941

American Fisher (tanker).I. 7,640 | First National Oil Corporation III.I.I.I. i012

[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
[graphic]
« PreviousContinue »