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In 1918 was formed Sjévitrpggingarfélag Islands (The Icelandic
Maritime Insurance Company). This is a joint-stock company, insuring
against any maritime perils, and since 1925 it has also transacted fire
insurance business as well. In 1928 the takings of the company in the
form of premiums for these insurances were 480 218 krénur and 146 290
krénur respectively.
Samtrygging islenzkra botnvérpunga (The Icelandic Steam Trawlers
Mutual Insurance Association) was formed in 1923. It is a mutual
company, which insures steam trawlers and other steam ships engaged
in the fishing trade. In 1929 its premiums amounted to 528 000 krénur.
Fire Insurance. Brunabdtafélag [stands (The Icelandic Fire Insurance
 Company) was established by an act of Althingi of 1915. It is
a mutual company, backed by the treasury fo an amount not exceeding
800 000 krénur, and undertakes the insurance of houses in towns (except
Reykjavik) and villages of 300 inhabitants and upwards, where insurance
upon houses is compulsory. The company may also extend its business to
include movable property as well. The insurances taken during the
year ending in 1929 amounted to 43 million krénur, and the premiums
to 266759 krénur.
Under an act of Althingi of 1905, 50 (out of some 200) parishes
have formed small fire insurance societies. A Common Fire Indemnity
 Fund for Rural Farms, managed by the board of directors
of the Icelandic Fire Insurance Company, reinsures for the parish societies.

As regards Reykjavik, fire insurance on houses has been compulsory
since 1874. According to a contractual arrangement all houses in
Reykjavik are insured with a foreign fire insurance company. This insurance
 for the year ending in 1929 aggregated 75.8 million krénur,
while the premiums taken were 170 000 krénur.
Life Assurance. There is in Iceland no native company or institution,
 which transacts general life assurance business; but two
Funds have heen established to provide pensions to cfficials employed
in public service. In 1919, when an amendment to the act respecting
salaries to civil servants was passed by Althingi, the right to pensions
from the State was abolished. But at the same time the Civil Service
Pension Fund was formed, to which the State made a grant of 50
thousand krénur once for all. Every civil servant must pay to this
fund 700 of his annual salary to provide a pension for himself on reliring
 and assure the same advantage to his widow. The Fund is administered
 by the government which is answerable for the payment of