GROUP Policies in force December 31, 1966_______ Policies issued during 1967 __- __-- - Number 5 0 Total_________________----------- 5 Ceased to be in force during 1967-__----------- 0 Policies in force December 31, 1967 ___---____ 5 Losses and claims: Unpaid December 31, 1966- _------------ 3 Incurred during 1967 --__________ ___-- 106 Total _____ ----------------------- 109 Settled during 1967___-__- __-_---- __--- 108 Unpaid December 31, 1967________ 1 Net premiums collected in Canal Zone during 1967: Life Insurance__--- --------- Accident and Health_______ _____ Total ----------------------------- Premium tax paid in Canal Zone -_--_-____ Amount $101,756,353.00 8,819,050.00 $110,575,403.00 501,951.00 $110,073,452.00 $19,246.29 523,531.02 $542,777.31 538,000.00 $4,777.31 $1,896,330.07 149,249.84 $2,045,579.91 $30,683.40 The relatively small amount of fire insurance business written is due to the fact that practically all structures in the Canal Zone are owned by the Government of the United States and are not covered by fire insurance. Following is a statement of property in the Canal Zone involved in fires and the damages resulting therefrom during the year ended December 31, 1967. Panama Canal Company- ____ ________ Canal Zone Government _--------- Other U.S. Government --_- -- --- U.S. Armed Forces ____________ Ships in Canal waters_--- ------- Private property other than above - - Total --------------------- *Complete figures unavailable. Value of properly involved $3,399,686.55 1,552,772.11 0.00 10,591,014.56 24,095,464.76* 1,172,479.55 $40,811,417.53 Amount of damage by fire $46,424.40 365.00 0.00 15,550.38 8,000.00* 12,811.15 $83,150.93 The following is an extract from Title 2 of the Canal Zone Code, as revised effective January 2, 1963, pertaining to the licensing of foreign corporations under which insurance companies are authorized to do business in the Canal Zone. CANAL ZONE CODE-Title 2, Chapter 61 SEc. 871. Corporation; joint stock company.-As used in this chapter, "corporation" includes joint stock companies. SEC. 872. Application for license to do business; service of process; filing fee.-(a) A corporation organized under the laws of a State of the United States or of a foreign country may not do business in the Canal Zone