Abstract
Omitting from consideration the speculative and evanescent schemes which were the precursors of life assurance companies, and taking into account only the properly-constituted life offices, we find that up to 1 January 1837 the total number of such companies which had been established was 94, of which 20 had ceased to exist, leaving 74 then in operation. The average age of these 74 companies was 17¾ years. Not more than 18 of them had been 25 years in existence, while the remaining 56 had only attained an average age of 7 years. It at first strikes us as a very remarkable circumstance that only 20 offices out of a total of 102 had succumbed in the long period of 131 years, dating from 1706, when the Amicable was founded: but it has to be borne in mind that in 1837 the great majority of the offices had not attained an age sufficient to test their stability.
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