GIPE-PUNE-OIIOI2 - DSpace@GIPE

2 PRINCIPLES OF CONTROL OVER
According to the objects of insurance the indigenous
and foreign companies of Germany may be exhibited in
the following tabl~ (May 1929): 2 .
Objects
Indigenous Foreign Total
1.- Life and Sickness 655 20 675
2. Accident 22 7 29
3. Hail and Cattle 500 1 501
4. Fire 106 43 149
5. Diverse 100 2 102
1383 73 1456
Re"insurance companies have been excluded from
the above list. In a total of 1456 offices transacting business
in May 1929 in the fields of life, accident, hail,.
cattle, fire, etc., the foreign element was represented by
73 only.
The Home Insurance Company of New York is an old"
institution established as it was in 1853 . It is q~ite. subs"
tantial too, being operated as it is at a capital of
24,000,000 dollars. The company has been doing busi"
ness in Germany since 1923 and its activities cover
transport,. fire, and losses from storm. Its German officeis
located at Hamburg, and its business manager legally
responsible for all transactions carried on in Germany
is not an American, bu~ a German.
The chief responsible officer of the German branch
of another big American house, the Great American·
•
Insurance Company of New York (capital 15,00~,000'
dollars, established 1872), is likewise not an American
2 Stati.ti.ches /ahrbuch fiir das Deutsche Reich 1930 (Berlin), p. SI8 ..