The Los Angeles Times from Los Angeles, California • 44

12 Part 1968 Zogflngtlfg Omeg I. -i if DTlCo g(o) I if 5 I Continental reports continued progress. Record premium volume. Record investment income. A dividend increase.

And we continue to be the largest property and casualty insurer in the nation in terms of assets and policyholders' surplus. Today, Continental can insure almost anything, almost anywhere in the free world. We do business in 70 countries and we're constantly exploring new fields of insurance whenever the prospects look good. Aiid we expect to be going just as strong in the next 116 years. Or stronger.

The Continental Insurance Company Eighty Maiden Lane, New York, N.Y. 10038 AFFILIATED COMPANIES DIRECTORS OP THE CONTBfEKTAL INSURANCE COMPANY Summary of Consolidated Results The Continental Insurance Companies BOSTON OLD COLONY INSURANCE COMPANY Organized 1906 BUCKEYE UNION INSURANCE COMPANY Organized 1965 COMMERCIAL INSURANCE COMPANY OF NEWARK, N.J. Organized 1909. EQUITABLE FIRE INSURANCE COMPANY Organized 1894 THE FIDELITY AND CASUALTY COMPANY OF NEW YORK Organized 1875 FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY Organized 1855 NATIONAL-BEN FRANKLIN INSURANCE COMPANY OF PITTSBURGH, PA. Organized 1866 NIAGARA FIRE INSURANCE COMPANY Organized 1850 SEABOARD FIRE MARINE INSURANCE COMPANY Organized 1929 GENERAL INSURANCE CORPORATION Organized 1954 THE DOMINION INSURANCE CORPORATION Organized 1904 ROYAL GENERAL INSURANCE COMPANY OF CANADA Organized 1964 AMERICAN TITLE INSURANCE COMPANY Organized 1936 NATIONAL-BEN FRANKLIN LIFE INSURANCE CORPORATION Organized 1852 NIAGARA INSURANCE COMPANY (BERMUDA) LIMITED Organized 1959 1967 1966 Premiums written 846,816,117 789,149,781 Premiums earned 831,255,520 "9 739,683,026 Ratio of losses to premiums earned 65.3 63.6 Ratio of expenses to premiums written 33.7 34.9 Combined loss and expense ratio 99.0 98.5 Statutory underwriting profit (loss) 3,169,207 (6,541,831) Adjusted underwriting profit 8,356,073 9,947,087 Investment income, excluding capital gains 64,161,196 63,791,009 Adjusted operating income (before taxes) 72,894,560 per share 6.58 6.30 Adjusted operating income (after taxes).

66,639,898 71,548,517 per share 6.00 6.18 Shares outstanding 11,100,000 11,575,000 Cash dividends paid 3.05 2.80 Admitted assets (market basis) at Dec. 31 2,074,797,999 1,948,856,901 Policyholders' surplus (market basis) at Dec. 31. $1,012,030,579 973,974,949 if- rSf A at' Hoyt Ammidon, New York, Chairman, United States Trust Company of New York Thomas M. Bancroft, New York, Chairman of the Board, Mount Vernon Mills, Inc.

Charles E. Becker, Springfield, 111. Chief Executive Officer, The Franklin Life Insurance Company Viscount De L'Isle, London, England, Chairman of the Board, Phoenix Assurance Company Limited John W. Drye, New York, Partner, Kelley Drye Nevuhall Maginnes Warren Maitland L. Griggs, New York, Director of several corporations J.

Victor Herd, New York, Chairman Frederick E. Jones, Columbus, Chairman of the Board, The Buckeye Union Insurance Company Allen T. Lambert, Toronto, Chairman of the Board and President The Toronto-Dominion Bank E. Herrick Low, San Francisco, Director and Executive Vice President, United California Bank Joseph A. Martino, New York, Chairman of the Board and Chief Executive Officer, National Lead Company William Matchett, New York, President R.E.McNeill,Jr.,NewYork, Chairman of the Board, Manufacturers Hanover Trust Company Peter S.

Paine, New York, Chairman of the Board and Chief Executive Officer, Great Northern Paper Company Samuel Riker, New York, KetirecL Former Director and Secretary, The New Jersey Zinc Company Dale E. Sharp, New York, Vice Chairman of the Board; Morgan Guaranty Trust Company of New York, Arthur K. Watson, Armonk, Chairman of the Board, IBM World Trade Corporation Kathan H. Wentworth, New York, Vice Chairman Underwriting affiliates: PHOENIX ASSURANCE COMPANY OF NEW YORK Maxwell A. Booth, Secretary Manager The Continental Insurance Companies Los Angeles Branch Office 1520 Wilshire Boulevard Los Angeles, California 90017 LONDON GUARANTEE AND ACCIDENT COMPANY, LIMITED THE UNION MARINE AND GENERAL INSURANCE COMPANY, LIMITED THE TOK10 MARINE AND FIRE INSURANCE CQMPANY, LIMITED 4.