V] <^ /a ^/,. 'n <^a ^^^v ^s M '^/^'W d^. IMAGE EVALUATION TEST TARGET (MT-3) 1.0 I.I 11.25 c' 1^ 112.2 U | Technical and Bibliographic Notes/Notes techniqu<)S et bibliographiquas The Institute has att« o •n o m n > z > > ■n > (/I C 7S > o m D O V •0 > z 3 > H O z o I RSTABLISHED 1847. i > o •n n ra n > z > ■n ra > C > z n m n o ■0 > z 3 i H O z c z H I 'Z H 5 I S' THE VERDICT OF THE PRESS. • • w, I • i 1> The Globe, Toronto. The year i.Soy is a memorable one in the iiistory ol Caiudiaii linan- cial institutions, for it is the semi-centennial of that great organization in which so many thousands of Canadians take a i)ardonai)le pride- the Canada J, ife Assurance Company. From its very inception the company started out on lines of economy, solidity and publirity. The foundation stones were laid dee{) and firm, (ireat care was taken to adopt sound financial and actuarial principles. Th' <^ro" •^h \v the early years was of necessity slow : difficulties had to be f. cc ' urmounted ; financial crises had to be contended with, but the - ! aii^.^itca nnd rode out every storm. J. once t'le oldest, lariiest and most prominent life company ninim is reitainly a unicjue position to occuj)y, but it is only ■ t iiij si/.e and ()rominence to which the Canada Life has now attained have been i ^..jhed only by the pursuit of sound actuarial principles, the enforcement I'f rigid economy, the exercise of strijt integrity and the maintenance of permanent stability. Perhaps the secret of the high opinion now entertained of the company, especially by its thousands of policy-holders, is in some measure due to a reason which was assigned in the columns of The Globe a few years ago in the following words : " In the wild rush for business at any cost the Canada Life has never taken a part. Its management has always held the interests of policy- holders superior to the glory of dazzling figures and mere size. It has al- ways refused to pay more for business than that business was worth. The result has been that it has won the esteem and sympathy of both its policy- holders and the public, and so the Company to-day holds a unic^ue place among Canadian life assurance companies. " The highest tribute which can be paid to such a company as the Canada Life is that, after providing for the absolute security of its polic'.es, it h is paid to its policy-holders such large i)rofits as command the astonish- ment of its rivals and the satisfaction of its patrons. So well is this fact now recognized in insurance circles that it has become crystallized into the phrase, '' If you want to obtain the best results for the least premium it is necessary to hold a policy in the Canada Life Assurance Com[)any. " The Gazette, Montreal. I Leading thinkers and writers agree that the greatest result growing (Hit of the diamond iul)ilee celebration has been the wonderlul growth of Imperial ideas. The llritish Kmpire. its wonderful extent, its marvellous l)()wer, and its hitherto unexpressed unity have taken dehnite shape in the minds not only of Covernments, hut even of the masses of the people, and Canada has had a very prominent share in the minds of people through- out the I'^mpire. Canadian institutions are making themselves felt not only in the iiriiish I':m[)ire itself hut in foreign countries. Clear-headed writers of the United States press are taking notice of our achievements and progress, and the following testimonies from two fmancial journals of New Vork illustrate the very nigh opinion which is held of a Canadian institution in which thou.sands of jiersons in this country take a pardonable pride. As a sign of the times these oi)inions are worthy of notice. I'he New Vork Insurance journal .says: "The achievements of the Canada Life Assurance Company are an evidence of what can be attained by upright and active men with the ability to tran.sact business honestly and untiringly with the best interests of their cl ents. The company is under a most progressive management, and having arrived at its semi- centennial jubilee year, its record of half a century is of more than passing interest. The management of the Canada Life, its liberality, its treatment of policyholders, are all on the highest i)Iane, and as to the solidity of the company and the integrity of its management, the company stands in the first rank."' The In>urance Advocate, of \ew \'ork, thus refers to the .same institution: '' I'he economy and management of the Canada Life is un- suri)a:ssed : its liberality anil mode of dealing with policyholders are prover- bial : its siabihiy has e\cr been,and is, beyond (iuestion,and the integrity ofits olticers has won a confidence which has never been betrayed. W'a wish this excellent comi)any all the prosperity it deserves, and that is saying much." During this vliamond jubilee year the Canada Life is celebrating its golden jubilee, and its remarkable prosperity and high standing is attract- mg wide attention, but it is not too much to say that it is best appreciated where best known. Its thousands of .satisfied policyholders bear witness to the sui)erior character of the Canada Life, the oldest, largest and most successful life insurance company in the Dominion. I I I m u» B R Z H (/^ O •n n m n > 2 > C > .TT. > (/) C > 2 n m n o "C > 2 > F H O 2 O 2 H J I BBBH The Mall and Empire, Toronto. >r' The year 1897 is the semi-centennial of the oldest, the largest and the leading life assurance company in the Dominion— that company in which so man;, Canadians take a pardonahie pride the Canada Life Assurance Company. Many interesting facts are connected with the fifty years' histoiy and progress of this great Company. To begin with, it was our pioneer life company, and for nearly a (juarter of.. .;nt .ry it was the only home cor.i- pany. I'he prestige and lead it thus J^^.ained it has always maintained in all po'nts that go to make u\) real grea'.ness. Organized in 1S.17 in the City of Hamilton, it had to contend ''"or years with prejudice, nith limited facilities for travel, with a small insuia;)le population, with financial crises and many other obstacles, but so broad and firm were its foundati'-ri!-- laid that it triumphed over every ol)stacle, and by ihe year 1870 ii liad built up for itself such an enviable reputation for stability and good manage- ment that it has for many years been looked uj)on in Canada, not only as our l-^ading life assurance company, but one that exemplifies in its manage- ment those sound principles of economy, integrity, stability and Li)erality that have given it such a unitjue place in public confidence and esteem. Perhaps one of the reasons why the Canada Life is held in such high favor is the fact that its methods of doing business are always open and clean. There is no sharp practice or resort to trickey artifices. Nor has it attempted to buiid itself up by pulling other kindred institutions down. It recognizes their merits and respects their rights. During the whole fifty years' history of the Canada L"i.'«- another feature that has marked its management has been its stnct economy. As an illustration of this, it may be mentioned that last year its ratio of expenses to income was less than that of any other Canadian or American company doing business in Canada, being less than thirteen per cent , while that of many companies is over twenty per cent. The result is that it shows large profits earned for its policy-holders. Thus last year we find over $500,000 was earned in surplus, for distribution to policy holders at next division of profits. The Monetary Times, Toronto. There are many in Canada wlio will share ir the interest with which the first Canadian life company celebrates the fiftieth year of its existence. 'J'o look hack and try to measure the conditions of 1S47 with those of to- day, we find ourselves faced with a contrast that can hardlv he understood except by persons whose memories embrace both j)eriotls. When the Canada Life Assurance Company was first founded, in 1S47, the {)oi)ulaiion of Canada West was scant and scattered. Her cities and towns were small: llamilton had only 7,000 jieople : London, 3,600; ]i)town, ^,ooo : 'Toronto, 20,000. The means of communication were the stage coach and the stcmer, or in the C(3untr)- the ox-cart, for there were no railwa)s. Hanks there were, and fire and inland marine assurance com- panies, ])rincipally I'vnL;lish, but it did not seem an auspicious time to 'aunch a Canadian life company, and there were man) to doubt and dissuade the projectors from their enterprise. * * ^:- * * -^ * * The Canada Life is a household word throughout the Dominion, nor is its re[)utation merely that of a strong com])any, able to offer to its insurants firm guarantees and liberal methods, but what is e(iually essential to satisf;ictory life underwriting, skilled service and honorable treatment. Free Press, London. The record of the Canada Life since ils inception in 1S47 has l)een steadily progressive and entirely creditable. In the whole range of j)urely ("anadian financial companies it would be ditlicull, if not impossible, to find a more solid business status, an institution which covers wider interests, or one in which (Canadians can be said to be more generally interested, than in the Canada Life. It enters ui)on its second half century not only with a brilliant record behind it, but a prospect of renewed and increased usefulness, with its abundant resources, strong directorate and capable and experienced official staff. H c § t o •n n m I: > > n o •9 H C 7S C 2 C •n rn n > 2 > > ■n > c > z n m n c 2 > 2 I «7/ i II iW The Shareholder, Montreal. The celebration of its jubilee year by a Canadian life insurance com- pany is somethinLi; new in this country, that of the Canada Life being the first of its kind. But not only has this progressive and prosperous Com- pany completed its half century, but it has done so with honor, the financial statements being highly satisfactory. To have carried on business for fifty years, and at the exi)iration of that period to be able to show the success achieved by the Canada Life is something to be proud of, and we can easily imagine the feeling of satisfaction with which the veteran President of the Company, Mr. A, C.. Ramsay, submitted his annual statements to the shareholders at the annual meetmg. A feature to which attention was called, and one which we deem it proper to emphasize, is that the Company's large business has been obtain- ed without extravagant expenditure, the policy of the Company being, as staled by the President, to abstain from any hi.uh-pressure system of obtaining business, which must be ultimately unprofitable and unsatisfactory. As a result of th.e beneficial results o^' that policy, Mr Ramsay stated that the percentage of the Company's expenses is from 3"- to 30 per cent, lower than that of any other Canadian company. Reference was made to the basis upon which the valuation of the Canada Life's policy liabilities are made, and to the fact that the Company's valuation of its liabilities is $617,000 In excess of that of the Dominion Covernment standard. We congratulate the Company upon its success, and upon the confidence it enjovs, results which have involved the exercise of sound judgment, great ability and ripe experience. London Advertiser. The Canada Life Assurance Company has just celebrated its golden jubilee. It is a jubilee that mark 50 years of splendid achievement, 50 years of sound business administration, and 50 years of increasing prosperity. Time has only invigorated this thoroughly Canadian institution, which was founded in 1847, and in whose record, as a national product, ail Canadians feel a patriotic pride. The Economist, Toronto. It is with peculiar interest that we read the Annual Report of the Directors, because it was the (occasion of ,ui\ing voice to the satisfaction felt not onlv b\ the Directors hut by the whole community, by the fact that the Canada Life has now reached its semi-centennial year, and that it this year celebrates its lubilee. It is unnecessary to state, of course, that this is the first occasion that any life company in Canada has had occasion to celebrate a semi-centennial, and it wil! be several years yet before any home company will attain that age. ( )f course, si/.e is only a relative term, md while the Canada Life is easily the lar.uest (-ompany in Canada, it does not make any pretenc-e of attainin- ilie magnitude of some of the large American companies : but it must bJ rememliered that the population from whom its insured lives have been drawn is (juite small compared with the population of the United Slates. Moreover, when we come to examine in detail the intrinsic merits of the Canada Life we fmd that it does not take a second place to any of the companies which may perhaps exceed it in si/.e. As pointed out by the President in his address, the Canada Life has alwavs abstained from' extravagant expenditure, the policy of the Company being to avoid the modern high-pressure system of ol)taining business which nuist^ be ultimately unprofitable and unsatisfactory. It is just here that the management of the Canada Life is differentiated from that of the modern American school of management, and we fmd that the Canada Life has pursued the Driiish rather than the American method of building up a coiii)any : and while there are many attractions and advantages from the American point of view, yet it must be admitted that in solidity and permanency and ultimate satisfaction the liritish ideal is perhaps the highest and best. 3 o JO m > r e •n •V o m o > z > > •n m > t/l c > Z o rn n © V > Z ■< Hanitoba Free Press. In be-inning its second half century the Canada Life starts under the favorable auspices afforded by a record of great progress, sound and con- servative management, and an unassailable fmancial position. i i 4.. 2 o 'A H re > r o •n •V n m o > z > > •n ra > C/3 t/> c > z o m n o ■s •0 > z ■< H 4 *x 4 15 Money and Risks, Toro nto. During the fifty years which have passed since this splendid Company was organized, it has done a vast amount of good to humanity by the protection it has given to our people, and an e(iual amount of good to the business of life insurance in Canada l)y the education it has afforded with regard to clean methods and clean business, as well as through its [)ublish- ed experience, contained in reports and other statements which liave been given to the public. The Canada Life goes on pursuing the even tenor of its way, satisfied to get a fair amount of new business at a reasonable outlay, and sufficient- ly conservative and cautious not to attempt to grow great too rapidly or at too ureat a cost. Who does not think well of the Canada Life? No one who is an impartial and capable judge of what is really meritorious in life insurance. Spectator, Hamilton. The Canada Life Assurance Company was organized in this city in 1847, and was obliged to contend with many difficulties in its early days ; but its foundations were broad and solid and its i)lan sure, and it triumphed over all obstacles until it became the leading life insurance company of Canada, and one of the safest, best managed and most successful life insurance organizations in the world. By its careful management, straight dealing, sound l)usiness princi[)les and the uniform courtesy of its officers, from the lowest to the highest, the Canada Life Company has won for it- self the esteem of all Canadians, and it is one of the institutions to which they point with i)ride. The Sportsman, Toronto. The Lnglishman's ideal financial institution is the Bank of England. Its age, magnitude, reputation and power enables it to tower proudly above all other Banking Institutions. What the Bank of England is to Englishmen, the Canada life Assurance Company is to Canadians. In age, magnitude and reputation it occupies a uni(iu2 place. Established half a century ago, it remained for nearly a ([uarter of a century as the only home company in Canada. With the prestige thus obtained it is not surprising that the Canada Life should rank to-day as not only the leading company in Canada, but as one of Canada's great financial institutions. i6 Canadian Journal of Commerce, Montreal . The Canada l,itc, in its semi-centennial or Jubilee year, can justuiably boast as having gone on steadily from strength to greater strength every year of its life, in 1.S47 the founders were well satisfied with having written i '/> policies for $222, 600. ["he new Company had a very rea- sonable prejudice to contend a^::ainst in favor of most l^ritish companies whose stability was beyond (luestion, while a new organization was regarded by many as a doubtful experiment. Mr. Hugh C. P.aker, manager of the IJank of Montreal at Hamilton, was shrewd enough to see that a wide field was open to a life assurance company which offered better terms than the existing companies, and he knew enough to feel justified in declaring that the value of money in Canada and our favorable rate of mortality would enable a thoroughly sound business to be built up on lower rat-s than those then charged by companies across the ^^^- J^'^^ these convictions he started the Canada I.ife in 1847. The company's death rate, as a rule, falls below expectancy, and, we may add, the returns to policy-holders in me way of bonus, etc., run the other way, as they, as a rule, exceed what is expected. "/r 1 London News. One of the institutions of which we as Canadians have cause to feel justly proud is the Canada Life Assurance Company. Its pr.st has been a series of triumphs, its present is highly satisfactory, and its future will be no doubt a c-ontinuation of success. The repoit of its year's business shows a splendid state of affairs. In 1S47 the Company had 136 policies, assuring ^222/^00. 'i'oday it has 32,000 policies, assuiing over $70,000,000, e^iual to about $12 per head for the whole population of the Dominion. Safelv should be the first consideration of anyone contemplating in- surance and a Company with fifty honorable and su<-c. ssful yeais to its credit should certainly have the confidence of the public, a confidence which has come down from father to son. In spite of the large profits paid and the general satisfaction the Company has given, its premium rates are not high. They are as low, and in some cases lower, than those of other companies. May it continue its successful career under the same careful nianagement. 4 Canada Life Assurance Co. Annual Income, - - $2,750,000 Assets, over - - $17,400,000 Assurances in Force, over $70,000,000 President: A. G. RAHSAY, F. I. A. BOARD OF DIRECTORS. The Hon. Chief Justice Burton, Toroiiio. Col. Sir Casimir S. Gzovvski, K. C. M. (i., A. D. C. to the Queen, Toronto. N. Merritt, Esq., Toronto. John Stuart, Esq, Hamilton. Adam Brown, Esq., Hamilton. ' William Hendrie, Esq., Hamilton. LiEUT.-GovERNOR HoN. Geo. A. KiRKPATRiCK, Toronto. A. G. Ramsay, Esq., Hamilton, President. Hon. D. MacInnes, Hamilton. Alexander Bruce, Esq., Q. C, Hamilton. Hon. Geo. A. Cox, Toronto. B. E. Walker, Esq., Toronto. The Very Rev. G. M. Innes, Dean of Huron, London. F. W. Gates, Esq., Hamilton, Vice-President. Secretary V K. HILLS. Superintendent, W. T. RAMSAY, Ass't Actuary. F. SANDERSON, M. A. Hamilton On