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The Mutual Life Insurance Company of New York

Published online by Cambridge University Press:  18 August 2016

Extract

On the 1st February, 1868, this Company, “now the largest moneyed Corporation “in America, celebrated its “silver wedding,” as it was termed by the Governor of the State of New York on the occasion of the 25th annual meeting. The Report then presented and the general Prospectus of the Company have been forwarded to us by the “President” of the Company, who appears to be virtually what in this country we should call “Managing Director.” These documents are so instructive and interesting in themselves, and illustrate so remarkably the application to our pursuits of that originality of the American character, which is fast becoming as proverbial as its energy, that we propose to notice their contents in some detail.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1869

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References

* The practice of the Company as to the surrender of the reversionary bonuses is, we believe, far more liberal than that of any English Office; for at any time, a sufficient portion of the bonus may be surrendered to pay the current premium.