Royal Exchange Assurance Corporation
of Royal Exchange, London, E.C. Insurance company providing cover under the Royal Exchange Assurance brand.
1717 Established when the subscribers of the Mercers' Hall Marine Co. raised a fund of one million sterling to insure ships and merchandise.
1718 Transacted business of marine insurance under the name of the "Court of Assistants of the Mines Royal, Mineral and Battery Works," with Thomas, Lord Onslow, as Governor.
1720 Incorporated by Royal Charter, and assumed title of Royal Exchange Assurance Corporation.
1721 A further Charter was granted. These charters empowered the Corporation to transact Sea, Fire, and Life Assurance business.
1793 Additional powers were obtained "to grant purchase and sell annuities upon or for lives"
1801 Powers gained to insure vessels and goods on inland waters
1826 Powers gained to make advances on mortgages
1854 Consolidation of the stocks and powers authorised by Charters and previous Acts
1901 Adopted new constitution by Act of Parliament
1968 Merged with Guardian Assurance Group to form Guardian Royal Exchange Assurance Ltd[1]
See Also
Sources of Information
- ↑ The Times Nov. 2, 1968