AC.KICn.TrKAI, IXSUKAXCIv IX I9I5 



27 



The fundamental data for the period from 191 2 to 191 5 are as follows : 



1912 .... 



1913 .... 



1914 ... 



1915 .... 



Costs of administration represented the following percentages of 

 premiums received. 



The Badische Pferdeversicherungs-Anstalt was able to dispense in 191 5, 

 as in the seventeen previous years, with a levy from its insured of a supple- 

 mentary premium. In accordance with its by-laws this society was able 

 to pay into its reserve fund a sum of 30,413.81 francs as against 34,712.70 

 francs in 1914. Its accounts closed with a profit of 153,167.32 francs, which 

 sum also was paid into the reserve fund. Such profit was largeh' due to 

 a diminution of the reserve of current premiums. 



As compared with the previous 3'ear the chief department — insurance 

 of members — showed a diminution at the end of 1915 of 3,031 members, 

 2,601 horses and 1,147,000 francs of insured capital. 



The books showed the following results : 



End of year Members 



19^2 14.885 



1913 15.251 



1914 14,227 



1915 11,196 



The costs of administration were a little higher than in previous years. 

 They constituted the following percentages of premiums received. 



Among the causes of the particularly high losses were strangles and 

 contagious anaemia. Hoof and leg diseases, on the other hand, and cases 

 of the condemnation of unfit animals remained below the average. The 



