THE INSURANCE DEPARTMENT OF THE CENTRAI^ BANK OF BUI^GARIA 39 



character have only been conducted to a very limited degree. In any case, 

 some information on the subject ma3'^ be interesting. 



It is not a matter of individual but of collective insurance. The Bank 

 only insures societies founded for insturance of livestock in common . 



In the course of 1912, eighteen such societies were formed, but three 

 of them alone were able to fulfil all the conditions required by the law for 

 their regular working. These three societies insured altogether 93 head 

 of cattle for an amount of 17,660 leiiLa. 



The entrance fees in this division amounted to 44 lewa 75, and this, in 

 conformity with the provisions of article 14 of the law, has been placed to 

 the reserve fund. 



The premiums amounted to 127 lewa 80 ; the claims paid only to- 126 

 lewa. The rules lay down that half the loss must be paid by the insurance di- 

 vision of the Bank, and the other half by the society to which the animal 

 insured belongs. We must further note that the reserve fund of this divi- 

 sion amounted at the end of 1912 to 650,405 lewa 51, which, with the 50,000 

 lewa contributed by the State, which is to remain intact, forms a reserve 

 fund of 700,405 lewa 51. 



