Business & Finance: Week's Statistic: Feb. 3, 1930

$12,885,000,000. Last autumn life insurance companies celebrated passing the 100 billion milestone in total policies carried, predicted the second 100 billion would be obtained in far shorter time. Indications of speedier life insurance business were contained last week in the report of 44 companies who account for 74% of total business. For 1929 they showed new paid business of $12,885,000,000—a gain of 5.4% for the year. Another gain was shown in ordinary business, which jumped 7.3% for the year, and the newly popular group insurance, while down 11.3% from record-breaking 1928, was still up 43.8% over 1927.

How great an amount of investing is done by insurance companies was likewise revealed last week when New York Life Insurance Co. (third biggest) showed that during last year it invested about $184,000,000, or some $600,000 per business day.