Document 6RJEnokByjeGdgmxoKxBvDrY3

Premiums and annuity considerations were . $1,568,800,717.74 Earnings from investments (after investment ex penses and $22,406,756.24 Federal Income Tax) were............................................................................. 327,992,025.61 TOTAL $1,896,792,743.35 We paid to Policyholders and Beneficiaries: Death benefits....................................................... $ 335,587,961.54 Accident and Health (incl. Disability) benefits 159,879,398.69 Matured endowments............................................ 109,077,408.64 Surrender benefits.................................................. 111,335,947.62 Annuity benefits............................................ 36,421,818.29 Dividends on policies............................................ 192,312,899.00 Total....................................................................... $ 944,615,433.78 We paid for health and welfare work for policy holders and the public............................................ $ 7,656.339.56 We set aside for the benefit of policyholders and beneficiaries*............................................................ $ 636,951,483.79 Total Paid or Set Aside for Policyholders and Beneficiaries . . . $1,589,223,257.13 We required for operating expenses of the Company: For Field service to policyholders and for obtaining new insurance $ 184,518,412.41 For serytcp to policyholders, at the Home Office and at Head OfficoT_.................................................................................................. $ 83,479,635.21 We required for payment of taxes (other than Federal Income Tax and other investment taxes).............................................................................$ 31,145,071.66 Miscellaneous Asset Changes................................................. ..... $ 8,426,366.94 TOTAL.................................................................................................. $1,896,792,743J5 'Of the S616.9S1.483.79 tel aside for the benefit of policyholders and beneficiaries, $605,060,183.23 was the net increase in Statutory Reserves and other policy obligations, and $31,891,300.56 was the increase in Surplus Funds. if*$&**-*>*Jo' vilitaa* -- ii^s sets'aii >s . *ae. v^gS-fe^E. .' ... :\ \JsCIn accordance TOth the Annua] Statement filed with Bonds ............................................................................. U. S. Government....................................................... Canadian Government............................................ Provincial and Municipal............................................ Railroad....................................................................... Public Utility............................................................ Industrial and Miscellaneous................................. ..................................................... $j,i2*,.0,J $1,844,608,305.55 143,537,746.75 66,051,^54.87 660,243,225.66 1,514241,381.02 3,767,863,111.01 Stocks .................................................................................................................. All but $18,064,177.72 are preferred or guaranteed. 177,509,022.72 Mortgage Loans on Real Estate................................................................. On urban properties....................................................... $1,914,495,597.64 On farms....................................................................... 161,582,149.54 2,076,077,747.18 Real Estate (after decrease by adjustment of $1,900,000 in the aggregate) Housing projects and other real estate acquired for investment ............................................................ $ 391,638,408.63 Properties forCompany use........................................ 46,718,864.57 Acquired in satisfaction of mortgage indebtedness (of which $2,059,121.24 is under contract of sale) ....................................................................... 2,600,936.44 439,058,209.64 Loans on Policies ............................................................................................ Made to policyholders on the security of their policies. 465,211,481.47 Cash and Bank Deposits.................................................................................. 175,519,891.02 Premiums, Deferred and in Course of Collection................................ 161,709,504.12 Accrued Interest, Rents, etc................................................................................. 100,898,064.65 TOTAL ASSETS TO MEET OBLIGATIONS........................................... $11,592,529,045.66 Assets exceed Obligations by $664,727,554.32 -- the amount of th< serve as a reserve against unforeseen contingencies and give eati: NOTE.--Assets amounting to S3S3.449.4W65 are deposited with vgrinu 4 At i 01 OBLIGATIONS TO POLICYHOLDERS, BENEFICIARIES, AND OTHERS Statutory Policy Reserves........................... ............................................ 19.856,893,709.00 This amount, required by law, together with future premiums and inter est, is necessary to assure payment of future policy benefits. Policy Proceeds and Dividends Left with Company at Interest . . . Funds left with the Company by beneficiaries and policyholders to be paid to them later. 653.976.566.00 Reserved for Dividends to Policyholders....................................................... Set aside for payment in 19S3 to those policyholders eligible to receive them. 181.782.277.00 Policy Claims Currently Outstanding............................................................ Claims in process of settlement, and estimated claims that have occurred but have not yet been reported. 55,011.011.17 Other Policy Obligations.................................................................................. Including premiums received in advance and special reserves for mortal ity and morbidity fluctuations. Taxes Accrued (payable in 1933)................................................................. 76.947,311.14 47.012,225.46 Security Valuation Reserve............................................................................ Prescribed by the National Association of Insurance Commissioners. 23,176,699.00 Contingency Reserve for Mortgage Leant................................................. 7.150,000.00 All Other Obligations....................................................................................... 25.851.692.57 TOTAL OBLIGATIONS.................................................................................. S10.927.80l,491.34 ~ ` SURPLUS FUNDS Special Surplus Funds...................................................... SI06,783.000.00 Unassigned Surplus............................................................ 557,944.554.32 TOTAL SURPLUS FUNDS............................................................................ 664.727.554.32 TOTAL OBLIGATIONS AND SURPLUS FUNDS................................. $11,592,529,045.66 Surplus Funds. These funds, representing 6.1 percent of the obligations, tssursnce ttul nil policy benefits will be paid in full as (hey fall due. ;udmv xfitiels under the rrtjtjirtmtnij o< taw or revelatory authority. rrrziC'r-.: LEROY A. LINCOLN Chairman of the Board FREDERICK H. ECKER Honorary Chairman of the Board FREDERIC W. ECKER Eztcutive Vice-President HARRY C. HAGERTY Financial Vice-President SAMUEL MILLIGAN Administrative Vice-President Accident and Health ihnouii Raymond F. Killion, Third Vice-President Accounting and Auditing Joseph J. Cute, Controller Actuarial MALYtN E. Davis, Vice-President and Actuary (Personal Insurance) Reinhard A. Hohaus, Vice-President and Actuary (Croup) George V. Brady, Actuary Frederic P. Chapman, Associate Actuary Joseph A. Christman, Associate Actuary Joseph T. Gannon, Associate Actuary Harold A. Lachner, Associate Actuary Ed'yard A. Lew, Associate Actuary and Statistician Charles A. Siegfried, Associate Actuary Herbert J. Starr. Associate Actuary Claims John B. Northrop, Third Vice-President Coordination James L. Madden, Second Vice-President Investments aends, Stocks sad Raalclae Eugene A. Schmidt, Jr., Treasurer Arnold R. La Force, Second Vice-President H. Hugh McConnell, Second Vice-President Walter H. Saunoers, Second Vice-President Lawrence Washington, Third Vice-President. Bankint Chj Mamaeer Norman Carpenter. Second Vice-President Louis G. Buisson, Third Vice-President Fara Manpiu Glenn E. Rogers, Second Vice-President Hoodie Prokctr Frank C. Lowe, Third Vice-President Law Joseph H. Collins, General Counsel Churchill Rodgers, General Counsel Byron Clayton, Associate General Counsel1 J. Edwin Dowling, Associate General Counsel Roland Maycocr. Associate General CounstT George E. Walton, Associate General Counsel Medical EarlC. Bonnett, MU., Medical Director Haynes H. Fellows, M.D., Associate Medical Director Joseph C. Horan, M U., Associate Medical Director Alrert O. Jimenis, M.D,, Associate Medical Director Economist Ordinary and Industrial Insurance William A. Berridge, Ph D., Economist Francis M. Smith, Vice-President Field Management Ordtivji Insvruet Douglas S. Craig, Second Vice-President James S. Burke, Third Vice-President Cecil J. North, Vice-President Reginald R. Lawrence, Second Vice-President Ransom H. House, Third Vice-President Rickard E. O'Keefe, Third Vice-President Walter S. J. Shepherd, Second Vice-President and Field Personnel Officer IsdsctHsI lanrun John C. Timmeimann, Third Vice-President Austin T. Schussler, Chairman of the Superintendents of Agencies Emile P. Arnautou, Superintendent of Agencies Charles E. Creaoh, Superintendent of Agencies Milton O. Culpepper, Superintendent of Agencies George J. Fullman, Superintendent of Agencies Wilbur W. Hartshorn, Superintendent of Agencies Fulton W. Jenrins, Superintendent of Agencies A. Rogers Maynard, Superintendent of Agencies Clifton E. Reynolds, Superintendent of Agencies Samuel D. Risley, Superintendent of Agencies G. Hoyle Wright, Superintendent of Agencies _jJCarl H. Kreder, Third Vice-President Personnel (Hom oc*> Hejuert L. Rhoades, Third Vice-President ond Personnel Officer Secretary William J. Barrett, Secretary Statistical Edward A. Lew, Associate Actuary and Statistician Pacific Coast Head Office "Group Insurance -- Alexander C. Campbell, Vice-President Edwin C. McDonald, Second Vice-President, Group Sates Gilbert W. Fitzhugh, Third Vice-President, Group Sates John J. Sutter, Third Vice-President, Group Administration Henry E. North, Vice-President in Charge Arnold B. Brown, Third Vice-President - and Assistant Resident Manager Louis J. Schmoll, Third Vice-President William P. Shepard, M.D., Third Vice-President, Heahh and Welfare Julius 0. Klein, Superintendent of Agencies C. Coleman Berwick, M.D., Associate Medical Director Health and Welfare Donald B. Armstrong, M.D., Second Vice-President George M. Wheatley, M.D., Third Vice-President Canadian Head Office Glen J. Spahn, Second Vice-President in Charge William D. McKewen, Third Vice-President Insurance Relations and Assistant' General Manager Freeman D. Smith, Superintendent of Agencies Charles G. Dougherty, Second Vice-President Wallace Troup, M.D., Associate Medical Director ............ " '"'S'fTF LEROY A. LINCOLN, Chairman FREDERICK H. ECKER, Honorary Chairman Langdon P. Marvin, New York, N. Y. Emmet, Marvin it Martin, Attorney* at Law Jeremiah Milbank. New York, N. Y. Millbank it Company D'Alton Corrv Coleman, Montreal, Can. Director, Canadian Pacific Railway Company George McAneny, New York. N. Y. Trustee. Title Guarantee it Trust Company Robert V. Fleming. Washington, D. C. President it Chairman of the Board. The Riggs National Bank William W. Crocker. San Francisco, Cali^. Chairman of the Board, Crocker First Natioaal Bank of San Francisco John I. Downey, New York, N. Y. Vice-Chairman of the Board, The Bank of New York James H. Douglas, Jr.. Chicago, III. Gardner, Carton it Douglas, Attorneys at Law Charles G. Taylor, Jr., New York, N. Y. President. Metropolitan Life Insurance Company Edward H. Butler. Buffalo, N. Y. Editor & Publisher, Buffalo Evening News. Inc. Frederic W. Ecker. New York, N. Y. Executive Vice-President, Metropolitan Life Insurance Company Gale F. Johnston, Sl Louis. Mo. President, Mercantile Trust Company Amory Houghton. Coming. N. Y. Chairman of the Board. Coming Glass Works Ernest E. Norris, Washington, D. C. Chairman of ttierBoard, Southern Railway Company Phiup D. Reed, New York. N. Y. Chairman of the Board. General Electric Company Juan T. Trippe, New York, N. Y. President Pan American World Airways System Harry C. Hagerty, New York, N. Y. Financial Vice-President, Metropolitan Life Insurance Company Robert W. Woodruff, Atlanta, Georgia Chairman. Executive Committee, The Coca-Cola Company _ J. Wilbur Lewis. New York. N. Y. President. Union Dime Savings Bank Robert L. Hamill, New York, N. Y. Partner, Sanderson & Porter Webster B. Togo. New York, N. Y. Chairman, Executive Committee. Equity Corporation John J. McCloy, New York, N, Y. Chairman Board of Directors. The Chase National Bank of New York Some High Lights Payments to Policyholders and Beneficiaries For 1952 Ordinary......................................................... $ Industrial......................................................... Group (excluding Accident and Health) . . Accident and Health.......................................... 356,957,416 253,721,306 171,548,161 162,388,551 TOTAL.................................................... $ 944,615,434 Life Insurance in Force on December 31, 1952 Ordinary..............................................................$24,614,678,844 Industrial......................................................... 10,964,213,241 Group............................................................... 16,275,369,369 TOTAL.................................................... $51,854,261,454 Accident and Health Insurance in Force on December 31, 1952 Principal Sum Benefits amounted to $5,310,385,512 and Weekly Benefits to $95,480,185. In addition, more than 4,900,000 persons were protected by Hospital, Surgical and Medical Expense Benefits under Group and individual policies. New Life Insurance Issued During 1952 Ordinary......................................................... $ 2,199,468,108 Industrial......................................................... 769,037,125 Group . . ................................................. 621,935,293 TOTAL.................................................... S 3,590,440,526 Number of new Ordinary and Industrial Life insurance policies issued . 2,170,475 * Entrance to One of Metropolitan's Home Office Buildings.