RG-40. RECORDS OF THE DEPARTMENT OF INSURANCE
The Insurance Department was created in 1875 to execute the Commonwealth’s insurance laws. All powers previously vested with the auditor general relating to the licensing of insurance agents were assigned to the department. Legislation passed in 1921 re-established and reorganized the Insurance Department and amended, revised, and consolidated existing statutes pertaining to insurance companies. The department reviews and regulates insurance rates, audits companies, supervises and oversees the incorporation and licensing of companies and agents, and investigates consumer complaints.
BUREAU OF REGULATION OF INSURANCE COMPANIES
Annual Statements of Domestic Insurance Companies, 1961-1973. (4,559 volumes) Arranged chronologically by year and thereafter numerically by Insurance Department number. A record of annual financial statements for insurance companies headquartered in Pennsylvania. The "oversize" data sheets show date that report was received by the Department of Insurance; name of the company; signature of the president, secretary-treasurer, and/or other representative; company code number; employer’s identification number; date of incorporation; lists of officers and directors/trustees; date of the statement and signature/seal of notary public. Financial information provided by the reports includes assets, liabilities, surplus and other funds, underwriting and investment income, changes in financial position, analysis of non-admitted assets, reconciliation of ledger accounts, exhibit of premiums and losses, notes to financial statements, special deposit schedule, schedule of all other deposits, schedule of examination fees and expenses, five year historical data, real estate owned for the current year, mortgages owned, collateral loans in force, collateral loans discharged, bonds owned, preferred stocks, bonds and stocks acquired for the current year, bonds and stocks sold, bonds and stocks redeemed and other related facts. The following list is a sampling of insurance companies owned by African Americans: Atlantic Life and Accident Insurance Company; Liberty Life, Health and Accident Insurance Company; Mutual Assurance Company of Philadelphia; Mutual Life Insurance Company of America; Pilgrim Life Insurance Company of Philadelphia; Provident Home Industrial Mutual Life Insurance Company; Provident Mutual Life Insurance Company of Philadelphia; Tribune Association of Philadelphia; and Union Mutual Life, Health and Accident Insurance Company.