Abstract
This article deals with some important problems in the life insurance business in the late Nineteenth Century America, as follows;
1. Fundamental structure of life insurance business.
2. Expansive character of the American life insurance business, tipified by Henry B. Hyde, the Equitable Life. His aim was, first of all, to satisfy his own entrepreneurial wants, higher ranked than life insurance purpose.
3. Tontine Policy, introduced by Hyde, was not only an ideal solution of the problem with which he was confronted, but also gave him a weapon to push his Equitable to the top of the industry.
4. Manegement of Jacob Greene, the Connecticut Mutual, was in a marked contrast to that of Hyde. Being an early advocate of “Humane Life Value Theory”, and stubborn opponent of the Tontine, he had a distinct idea of life insurance business. His management, true to his principle, was inferior to Hyde, in quality. that is, growth of business, but much more superior in quality, both cost and returns to policyowners.
