Aviva plc

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Aviva is a British multi-national insurance company, headquartered in London. It is the largest general insurer in the UK, and a major life and pensions provider; it is also the 2nd-largest general insurer in Canada. Aviva operates in the UK (41.2%), France (19.5%), Europe (24.9%), Canada (10.6%) and Asia (3.8%). It is also eyeballing growth markets in China and South East Asia.

Aviva's main activities include the provision of general and life insurance, long-term savings products, and fund management services. The company offers accidents, employers liability, sickness, fidelity guarantee, burglary fire, motor, life, livestock, engineering, marine, and cycle insurance products. Operations break down as follows:

  • 63.3%: Non-life insurance
  • 36.7%: Life insurance and retirement savings management

Climate Change Policy: Aviva invests in the Polish coal industry, which burns lignite, the worst form of coal.[2]

Aviva Investors Global Services Ltd

Aviva-Investors-Global-Services.svg
Aviva Investors is a global asset manager, specialising in real estate, fixed income, equity, multi-asset, and alternative investments.

Company

Shareholders

Total float: 97.1%
Source: MarketScreener.svg, Mar.2020

Timelines

Heritage+Timeline+HistoryArchive-org-sm.svg

Aviva plc

  • Oct.2013: Aviva USA Corporation, formerly "AmerUs Group Company", was sold to Bermuda-based tax haven firm Athene Holding Ltd, a life insurance holdco focused primarily on the retirement market. Athene Holding Ltd is controlled by USA-based private equity firm Apollo Global Management LLC.[3] AmerUs Group CompanyArchive-org-sm.svg, Aviva USA CorporationArchive-org-sm.svg, Athene Holding LtdArchive-org-sm.svg
  • Jan.2013: Delta Lloyd NV: Aviva sold its remaining 19.4% stake in a stock offering.[4] Previously, in 2009, Aviva had held an IPO for part of its 92% stake.[5]
  • Jun.2008: Jobs: ~1,800 jobs were cut due to "restructuring" the insurance operations.[6]
  • Apr.2008: Rebrand: Aviva ditched the 200-year-old Norwich Union brand as it sought a single, group-wide identity to compete in international markets. The transition to the Aviva name took two years to complete. Irish insurer Hibernian and Commercial Union Poland will also be rebranded under the Aviva name.[7]
  • Nov.2006: AmerUs Group Company, an Iowa-based seller of equity-index linked life insurance, was acquired, enabling Aviva to increase its presence in the USA. Formerly "American Mutual Holding Company", the business was subsequently renamed as "Aviva USA Corporation".[8] Major subsidiaries included: AmerUs Life Insurance Company, American Investors Life Insurance Company Inc, Bankers Life Insurance Company of New York and Indianapolis Life Insurance Company.
  • Jan.2003: Insurance Australia Group Ltd purchased Aviva's general insurance business, including NZI Corporation (New Zealand) and CGU (Australia). IAG gained a 47% market share of Australia's car insurance market, and 40% of home insurance.[9]
  • Jul.2002: Aviva plc: CGNU plc renamed itself.[10]
  • Dec.2000: Morley Fund Management Ltd took over the asset management business of Norwich Union Investment Management Ltd.[11] In Sept.2008, the business became Aviva Investors Global Services Ltd. OpenCorporates-sm.svg, avivainvestors.com
  • Jul.2002: Aviva plc: CGNU plc changed its name, undertaking a huge rebranding exercise.ref Strong local brands and some specialist names were retained, including Norwich Union (UK), Delta Lloyd (Netherlands), Hibernian (Ireland), Commercial Union (Poland), NZI (New Zealand), and Morley Fund Management.
  • May.2000: Aviva plc was created by the merger of Commercial General Union plc and Norwich Union plc (formerly CGNU plc), following the purchase of Geoffrey Morley & Partners. A huge rebranding exercise was undertaken.ref
  • Oct.1999: Morley Fund Management Ltd.
  • Jul.1990: Commercial Union Investment Management Ltd.
  • Nov.1986: Royal Trust Asset Management Ltd.
  • Dec.1973: Arbuthnot Investment Management Services Ltd.

ToDo: Aviva Investors Global Services Ltd: B'berg, About, Publications, link

CGNU plc

  • May.2000: CGNU plc: Norwich Union merged with CGU Insurance plc, creating the 5th-largest company in Europe. 5,000 jobs were cut as a result of the "cost savings".[12] The CGU operations in the USA were sold to White Mountains Insurance Group, and were subsequently renamed as the OneBeacon Insurance Company.
  • Jun.1998: CGU Insurance plc was formed by the merger of Commercial Union and General Accident, and listed on the London Stock Exchange. General Accident Life Ireland was renamed as "CGU Life". CGU plcWikipedia-W.svg

CGU plc

  • May.2000: CGNU plc: CGU plc merged with Norwich Union plc.ref
  • Mar.2000: CGU Insurance USA was put on the auction block. As part of the CGU/Norwich Union merger, CGU plc spun off its USA subsidiary.[13]
    In Sept.2000, Bermuda-based tax haven firm White Mountains Insurance Group Ltd[2] bought CGU Insurance USA, and subsequently renamed it as the "OneBeacon Insurance Company",[3] (after the name of the street its offices were on) with "significant' financing from Berkshire Hathaway.[14] Pilot, a general insurer in Canada, and CGULICA, the USA life business with a developing position in bancassurance, were retained by CGNU plc.[15] cgulifeusa.comArchive-org-sm.svg (CGU Corporation), onebeacon.comArchive-org-sm.svg
  • Jul.1998: CGU Insurance USA, formally "CGU Corporation", based in Boston, was launched.
  • Jun.1998: CGU plc: merger of Commercial Union and General Accident.
  • 1998: Commercial Union and General Accident announced their intention to merge with Norwich Union, forming CGU plc.
  • 1696: Commercial General Union origins go back to the establishment of ‘Hand-in-Hand’, one of the earliest fire insurance companies.[16]

FixMe: Go through this timeline properly.

General Accident plc

General Accident grew out of the Employers' Liability Act 1880Wikipedia-W.svg, ... generalaccident.com Aviva Insurance Ltd's principal activity is the transaction of general and health insurance business in the UK. It offers personal (home, motor and trave insurance) and commercial lines. Its holdco is Aviva Group Holdings Ltd,OpenCorporates-sm.svg formerly Norwich Union Holdings plc.


  • 2013: Aviva revived General Accident branding, for car insurance only. Logo 2013
  • Sept.2006: Aviva Insurance Ltd: CGU Insurance plc changed its name and re-registered as a private limited company.
ToDo †
Aviva Insurance Ltd
  • Feb.2006: Eagle Insurance Ltd: a 51% interest was acquired in the 3rd-largest insurer in Sri Lanka, by way of a majority shareholding in Eagle's holdco, NDB Finance Lanka (Pvt) Ltd.†
  • Nov.2005: Hibernian Life Holdings Ltd was acquired from a fellow group subsidiary, CGU International Insurance plc. Announced a new bancassurance agreement in Ireland between Hibernian Group plc and Allied Irish Banks plc. Under the terms of the agreement, Hibernian Life Holdings Ltd, parent company of Hibernian Life & Pensions Ltd, acquired Ark Life Assurance Company Ltd from AIB.†
  • 2004: Disposals: Aviva's general insurance businesses in Asia were sold to Mitsui Sumitomo Insurance Group Holdings Inc (Sept.2004); Your Move estate agency and e.surveying business (Jul.2004); Societe Fonciere Lyonnaise, a French listed property company (Jun.2004).†
  • 2004: Acquisitions: Oct.2004: as part of its bancassurance partnership with Credit du Nord, the group acquired ~50% of Antarius, the life insurance company for Credit du Nord; Norwich Union Overseas Holdings Ltd and HPI Group Holdings Ltd were acquired from CGU International Insurance plc.†
  • May.2003: Delta Lloyd NV, the group's Dutch subsidiary, entered into a bancassurance agreement with ABN AMRO Bank NV for life and general insurance. As part of the agrement, the group purchased 51% of Delta Lloyd ABN AMRO Verzekeringen Holdings BV, a company established by ABN AMRO in Dec.2002, into which the insurance businesses were transferred.
  • 2002: Disposals: CGU Courtage SA (May.2002); Royal Saint George Banque (May.2002); Plus Ultra Compania Anonima de Seguros y Reaseguros (Jul.2002); Belves Investments Ltd, holdco for the New Zealand general insurance business (Oct.2002).†
  • 2002: Acquisitions: in May.2002: Dao Heng Assurance Ltd in Hong Kong (100%) and DBS Kwong On Insurance Company Ltd in Hong Kong (100%); in Oct.2002, Caja de Granada Vida in Spain (50%).†
  • Jul.2002: Aviva plc: CGNU plc changed its name.†
  • Feb.2002: Sabre Insurance Company Ltd was sold to BDML Group Ltd.†
  • 2001: Disposals: Hibernian Life & Pensions was sold to a fellow subsidiary (Jan.2001); Commercial Union Life Holdings Ltd (Apr.2001); CGU SA, general insurance business in Belgium (Jul.2001); USA general insurance operations sold to White Mountains Insurance Group Ltd (Jun.2001).
  • 2001: Acquisitions: ABN AMRO Mahyar Elet es Nuugdijbiztosito Reszvenutarsasag (100%), the 6th-largest life insurance business in Hungary, from ABN AMRO Bank NV (Jun.2001); Eurovita Italcasse Assicurazioni SpA in Italy (50.96%); the Insurance Corporation of Singapore (100%) from DBS Group Holdings Ltd (Aug.2001); Unicorp Vida, Compania de Seguros y Reaseguros in Spain (50%), the life and pensions subsidiary of Unicaja (Sept.2001); Ahorro Andaluz, Entidad, Gestora de Fondos de Penslones in Spain (50%); Bia Galicia, Compania de Seguros y Reaseguros SA in Spain (50%); Bank Nagelmackers in Belgium (100%) (Nov.2001); Caja Espana Vida, Compania de Seguros y Reaseguros in Spain (50%); Risparmio Vita Assicurazioni SpA in Tiraly (100%).†
  • 2000: Disposals: General Accident Versicherungs AG (Jul.2000); {CGU Holdings Ltd(51%), a South African general insurance business (Oct.2000); Marlborough Underwriting Agency Ltd, a wholly-owned Lloyd's managing agency, was sold to the Berkshire Hathaway Inc (Dec.2000), ending the group's involvement in the London Market.†
  • May.2000: CGNU plc: CGU plc merged with Norwich Union plc, and was renamed.†
  • May.2000: assertahome.com, a home-moving portal, was launched by a consortium comprising CGU (56%); partner estate agents (30%); and management (14%). The aim was to provide UK homebuyers with access to ~180,000 properties from 3,000+ estate-agent branches.[17] The website meandered along for a while, but was shut down in Mar.2005. Asserta Home LtdOpenCorporates-sm.svg, assertahome.comArchive-org-sm.svg
  • Dec.1999: § Hibernian Insurance plc: CGU plc acquired the remaining 73.7% of the Dublin-based insurer.[18] Hibernian was formerly an 'associate' of CGU plc.[AR-Dec.2000]
  • Oct.1999: CGU Insurance plc: General Accident Fire & Life Assurance Corporation plc changed its name.†
CGU Insurance plc
  • Dec.1998: CGU plc was formed by the merger of General Accident plc and Commercial Union plc. Following the merger, ownership of the company was transferred from General Accident plc to Commercial Union Assurance Company plc.†
  • Oct.1997: General Insurance Group Ltd, a Toronto, Canada-based insurer, was acquired from private equity firm Kohlberg, Kravis, Roberts & Company.[19]
  •  ???? Jan.1998: The managing director of the Galway-based life assurance group, NZI Life, Gerard O'Connell, has taken full control of the company after buying out the 80% shareholding in the company held by General Accident. ref
  • Dec.1997: NZI Life MBO: the Galway arm of NZI Corporation Ltd, was sold (80%) to the company's managing director and founder, Gerry O'Connell. Mr O'Connell had a 20% stake in NZI before General Accident acquired an 80% stake. has had a 20pc stake in the business since he linked up with New Zealand-based NZI Corporation in 1989.[20]
  • Mar.1997: New Zealand Insurance Ltd: the company's 51% interest was disposed of.†
  • Oct.1996: Sabre Insurance Company Ltd, a Dorking, Surrey-based specialist non-comprehensive motor insurer, was acquired.
  • Jun.1996: General Accident Versicherungs AG: general insurance company UAP International Allgemeine (99.99%) and life insurance company UAP International Lebensversicherung (99.87%), both based in Saarbrucken, Germany, were acquired and renamed in Nov.1996. The outstanding shareholdings were subsequently acquired.†
  • Aug.1996: Provident Mutual Life Assurance Association,OpenCorporates-sm.svg a specialist pensions company, was acquired by GA Linked Life. Provident Mutual was formed as "The Provident Clerks' Mutual Life Assurance Association" in Oct.1874 as a friendly societyWikipedia-W.svg. In Mar.1903, its name was changed to "Provident Clerks' & General Mutual Life Assurance Association"; and in May.1979, to "Provident Mutual Life Assurance Assocation".[21]
    Provident Mutual Life Assurance Ltd:OpenCorporates-sm.svg General Accident merged Provident with its Life and Pensions business. York became the centre of all life assurance business and Stevenage of all pensions business.
  • Nov.1992: Prudential Corporation plc's direct insurance business in Canada was acquired, comprising: Prudential Assurance Company of England Property and Casualty (Canada); Prudasco Assurance Company; Atlantic Insurance Company Ltd; Coast Underwriters Ltd.‡
  • Errors: A/cs for Dec.1991 are actually for 1986; A/cs for Dec.1992 are actually for 1987; A/cs for Dec.1993 are actually for 1989.
  • Jul.1991: Hawkeye-Security Insurance Company, a USA-based company engaged in property and casualty insurance, was acquired. During the year, Aktiv Forsikring AS, a Norwegian insurance company, was also acquired.‡
  • Oct.1990: Silvey Corporation, a USA-based group engaged in general and long term insurance business, was acquired.‡
  • Feb.1990: General Accident plc was incorporated as a non-insurance holdco for the group, because UK legislation restricted the activities which could be undertaken within a structure headed by an insurance company.‡General Accident plcOpenCorporates-sm.svg logo 1990/1992
General Accident Fire & Life Ass. Corp. plc
  • Aug.1989:
    New-Zealand-Insurance.svgDeals-Arrow-Left.svg
    NZI Corporation Ltd: the outstanding minority shareholding (48.8%) was acquired, taking GA's stake from 51.2% to 100%.[22] The plan was for NZI to be the platform from which GA launched an expansion into the Pacific market, especially Korea and Taiwan – but NZI incurred very heavy losses.
  • early.1989: N&P Life Assurance Ltd, a joint venture with the National & Provincial Building Society was launched, to transact long-term life assurance. In <?date?>, National & Provincial bought out GA's interest. In Jul.1995, the transfer of the business to the Abbey National plc was announced.[23]
  • Jul.1988:
    New-Zealand-Insurance.svg
    NZI Corporation Ltd: GA acquired a majority stake (51.2%) in the New Zealand-based insurance and banking firm.[24]
  • Jan.1986: Pilot Insurance Company, based in Ontario and operating exclusively in Canada, was acquired, and subsequently renamed as "Aviva Canada". aviva.ca
  • 1986: General Accident Financial Services Ltd: as part of General Accident's expansion in financial services, Oregon Automobile Insurance Company, and six estate agency chains (Martlet Property Services plc, Fox & Sons (Western) Ltd, Fox & Sons (Souther) Ltd, Cobbs Property Services Ltd, Dudley Charlton Ltd, Flatt & Mead Ltd) were acquired.†
  • May.1982: The English Insurance Company Ltd: the outstanding shareholding of 47.7% that General Accident did not already own was acquired from Hill Samuel Life Assurance Ltd.† Formed in Dec.1919; changed its name to "General Accident Linked Life Assurance Ltd" (GA Linked Life) in Jan.1985.[21] English Insurance Company LtdOpenCorporates-sm.svg
  • Mar.1982: General Accident Fire & Life Assurance Corporation plc: re-registered as a public limited company.† Logo, 19??
Origins
  • 1980-1990: Acquisitions: by the end of the decade, General Accident had acquired 500+ real estate brokerage agencies to market its home and life insurance. In 1987, 27 estate agency chains were acquired, including John H James (Holdings) plc, and Stuart Wyse Ogilvie Estates Ltd. In 1989, six estate agencies were acquired.†
  • Nov.1967: Yorkshire Insurance Company Ltd, carrying out the business of fire, life and general accident insurance, was acquired (majority %);[25] the remaining shareholding was acquired in 1968. The Yorkshire was established in Sept.1824 as the "Yorkshire Fire & Life Insurance Company"; in Jul.1898 it was incorporated; in May.1908, the name was changed to "The Yorkshire Insurance Company"; and in Jun.1908 the "Yorkshire Insurance Company Ltd" was incorporated.[26] Yorkshire Insurance Company LtdOpenCorporates-sm.svg
  • 1963:
    Flag-USA.svg
    Pennsylvania General Fire Insurance Association was formed in the USA.
  • Sept.1935: "A business epic, 1885-1935": to mark the golden jubilee of its foundation, a lavishly produced volume tracing the history of the company from its inception was produced.ref
  • 1930s:
    Flag-USA.svg
    Potomac Insurance Company of Washington, DC, was acquired, increasing GA's fire insurance business.
  • 1924: Morris Motors Ltd: an innovative scheme was formed, whereby all Morris cars sold in the UK were provided with a year's free insurance coverage, with Morris Motor paying the premium. The plan was a major success, introducing General Accident to a wide range of potential customers.
  • 1911: A Royal Warrant was granted to General Accident by King George V, having insured cars of the royal household since 1908.
  • Mar.1906: General Accident Fire & Life Assurance Corporation Ltd: the company's name was changed to reflect its diversification.†
  • 1900-1910: Expansions: GA established overseas branches in Australia, Canada, South Africa, Belgium, France, and Holland.
  • 1899: Scottish General Fire Assurance Corporation was acquired, and General Accident started offering both accident and fire coverage.
  • Feb.1891: General Accident Assurance Corporation Ltd was formally established, taking over the business, staff and premises of the 1885 Association.†
  • 1887: The association expanded to cover livestock and marine passenger insurance; and, in 1890, to burglary cover.
  • Dec.1885: General Accident & Employers Liability Assurance Assocation Ltd was formed in Perth, Scotland, by a group of entrepreneurs who saw the insurance potential arising from the Employers' Liability Act 1880Wikipedia-W.svg.
  • The Great Fire of LondonWikipedia-W.svg led to the formation of fire insurance companies, and the study of actuarial science in the 18th and early 19th centuries paved the way for modern life assurance. The last 50 years have seen the rise of a fourth member of the insurance family - accident insurance. [4]

Additional Sources:
  • Aviva Insurance Ltd. Annual Reports & Accounts, 1891-2019, OpenCorporates-sm.svg, Companies House. Accessed Aug.2020.
  • General Accident plc. Annual Reports & Accounts, 1990-1992 (todo→2019), Companies House. Accessed Aug.2020.

Commercial Union plc

The Commercial Union, from its foundation, operated as a composite company, transacting all three branches of insurance: Marine, Fire and Life. In its modern incarnation, it is a holdco for the Aviva International Insurance group of companies, acting as the onshore reinsurance vehicle for Aviva plc. The company also invests in securities, properties, mortgages and loans, and trades in property.AR-Dec.2019

  • Sept.2006: Aviva International Insurance Ltd: CGU International Insurance plc was renamed, and re-registered as a private limited company.
  • Oct.1999: CGU International Insurance plc: Commercial Union Assurance Company plc was renamed.
  • Jun.1998: CGU plc: faced with unrelenting competition and falling premium rates in Europe, Commercial Union plc merged with § General Accident plc, with General Accident becoming the new parent company.AR-Dec.31.1998[27] The objective was to capture greater market share, and to cut costs through job losses and the integration of IT systems.[28]:68
  • Jun.1990: Commercial Union plc: Commercial Union Assurance Company plc became a wholly-owned subsidiary of Commercial Union plc.
  • 1990: British Aviation Insurance Group: British Aviation Insurance Company, Aviation & General, London Aviation Insurance Group, and the aviation offices of Commercial Union, Eagle Star and General Accident combined to form a single pool in the UK. In Jan.2001, BAIG combined with the USA's Associated Aviation Underwriters to form Global Aerospace Inc.[29]
  • 1984: L'Epargne de France, a French insurance business, was acquired to further expand in Europe.[30]
  • Jan.1982: Commercial Union Assurance Company plc: the company re-registered as a public limited company.
  • 1973: Delta‐Lloyd Verzekeringsgroep NV, the 2nd-largest insurer in the Netherlands, was acquired (100%) with the intention of expanding activities in continental Europe.[30][31]
  • 1972: Mercantile Credit Company Ltd: National Westminster Bank's interest was acquired in a share swap, with Commercial Union becoming its major shareholder (~24%), and Barclays Bank Ltd holding ~18%.[32] Mercantile Credit, formed in 1934, specialised in consumer credit, and was a pioneer of equipment leasing in the UK; it had previously formed several ventures with Commercial Union.[33] In Aug.1975, Barclays Bank purchased Commercial Union's interest.[34] Mercantile Credit Company LtdOpenCorporates-sm.svg
  • Dec.1971: Employers' Group Associates: acquired 100% ownership. The objective was to acquire EGA's insurance subsidies: Employers Surplus Lines Insurance Company (specialist insurer and reinsurer); and Employers Life Insurance Company of America (life); Egret Services Company Inc (growth funds).[35]
  • Jun.1971: Holloway Sackville Properties Ltd was acquired with a view to property development in the UK, Australia, France and Belgium. Renamed as "Commercial Union Properties Ltd"; renamed again in Mar.1999 as "Morley Properties Ltd".[35] Holloway Sackville Properties LtdOpenCorporates-sm.svg
  • May.1971: Les Provinces Réunies SA, a Belgian composite company, was acquired.[35]
  • 1968: Northern & Employers Assurance, the 4th-largest insurer in the UK, was acquired.[36][28]
  • Jun.1959: North British & Mercantile Insurance Company Ltd, which had significant operations in the USA, was acquired.[37] Subsidiaries included the Fine Art & General Insurance Company Ltd (acq'd 1917); Railway Passengers Assurance Company (acq'd Jul.1910), and Ocean Marine Insurance Company Ltd (acq'd 1908). In Nov.1967, North British's life insurance trade and assets were hived up.[38] Formed in Edinburgh in 1809 as the "North British Insurance Company" to do business as a fire insurance company; in 1862, it merged with the Mercantile Fire Insurance Company, and was renamed as "North British & Mercantile".[39]
  • 1900-1939: Acquisitions: eleven acquisitions were made during this period, including the Globe Accident (1907), Ocean Accident & Guarantee Corporation Ltd (1910), Plate Glass Insurance Company of the City of London Ltd/Alliance Plate Glass Company Ltd (Sept.1910), Union Fire Office/Union Assurance Society Ltd (1907), Scottish County & Mercantile (1907), National Insurance Company of Great Britain Ltd (Sept.1917), Edinburgh Life Assurance Company Ltd (Dec.1918), West of Scotland Insurance Office Ltd (1924), British General Insurance Company Ltd (1926), Liverpool Marine & General (1926), British General Insurance Company Ltd (1926), Travellers Insurance Association Ltd (Sept.1928).[40]:292;379-380
  • 1906: Accident Insurance Company was acquired, including its subsidiary, the Accidental Death Indemnity Association (est. 1850), which had been acquired in 1867.[40]:284
  • 1905: Hand in Hand Fire & Life Insurance Society, a mutual fire and life society, was acquired. The incentive for the Hand-in-Hand's policyholders was its large mutual fund, which could be transferred onwards via bonuses and reduced premiums.[40]:379
  • 1901: Trade Acceptance Guarantee Syndicate was acquired. The Syndicate had been formed in 1896 to take over the credit insurance that had been written by the National Provincial Trustees. This class of insurance protected firms against loss due to the insolvency of debtors. In 1903, Commercial Union transferred its credit business to the Excess.[x]
  • ~1900: The Palatine Insurance Company Ltd of Manchester, specialising in non-life insurance, was acquired. Now owned by Swiss Reinsurance Company Ltd.
  • 1894: West of England Fire & Life Insurance Company, established in Exeter in 1807, was acquired.[40]:235
  • Aug.1885: Commercial Union Assurance Company Ltd was registered as a limited company in England. OpenCorporates-sm.svg
  • 1870: Expansion: Commercial Union established an agency in San Francisco, USA; the following year it began operating nation-wide.[41]
  • Sept.1861: Commercial Union Assurance Company: following the Great Fire of Tooley StreetWikipedia-W.svg, the fire insurance companies were hit by massive claims and, consequently, they increased their fire insurance rates by 50-100%. In response, a group of local merchants and brokers formed their own company.[28] The Tooley Street fire was the catalyst for the formation of the London Fire BrigadeWikipedia-W.svg.[40]:347

Hand in Hand

  • Jun.1905: Commercial Union Assurance Company Ltd took over the Hand-in-Hand's assets and business, under the Commercial Union Assurance Company Ltd Act.[42] The company was dissolved in the same year.
  • Jul.1836: Hand-in-Hand Fire & Life Insurance Society: the company name was changed again, to reflect the start of transacting life business and granting annuities under a deed of settlement.[43]
  • 1805: Society for the Insurance of Houses & Goods from Loss or Damage by Fire or Hand-in-Hand Contributionship: Hand-in-Hand changed its name, as it started insuring goods, merchandise and stock in trade, extending its business outside London.
  • 1714: Union Assurance Society was formed. An agreement was made between Union Assurance and Hand-in-Hand that the former would insurance only contents, and the latter only houses.
  • 1706: Hand-in-Hand Fire & Life Insurance Society: the name was changed soon after the company adopted an emblem of two hands joined beneath a crown. A mutual society, the Hand-in-Hand was a forerunner of the modern co-operative system. For 135 years it also operated its own fire brigade and made a significant contribution to fire fighting and fire prevention legislation.
  • Nov.1696: The Amicable Contributors for Insuring from Loss by Fire, the 4th fire insurance to be formed in Britain,[40]:80 was formed in Tom's Coffee House, London.[44]
Sources: Company History: Hand in Hand Fire and Life Insurance Society. Aviva plc. Original archived on Dec.04.2010.
ToDo †

Badges of extinction:

Hibernian Insurance plc

  •  ?? Hibernian Group plc ?? "associated undertaking" of General Accident plc, see AR-Dec.1999, p.26
  • Jan.2009: Aviva: the company was rebranded, and the Hibernian name disappeared.[5]
  • Jan.2009: Hibernian Aviva: the company was renamed.
  • Apr.2008: Rebrand: Hibernian announced that they would be rebranding as Aviva, as part of Aviva's global rebranding campaign.[6]
  • Apr.2008: Vivas Insurance Ltd, t/a "Vivas Health", was acquired (majority %), enabling Hibernian to enter the health insurance market.[45] vivas.ieArchive-org-sm.svg
  • Jun.2008: Jobs: Hibernian announced that it was to outsource much of its operations to Bangalore, India, with the loss of 580 jobs.[46]
  • Jan.2000: CGU plc acquired Hibernian's remaining shares.
  • Nov.1999: § CGU plc acquired a majority stake of 53%, by purchasing another 25% from Munich Re and Bank of Ireland Asset Management to add to its stake of 28% which it had previously built up.[47]
  • May.1979: Consortium: Commercial Union sold 70% of Hibernian Insurance to the Bank of Ireland (20%), Avenue Investment (20%), Munich Re (10%), with another 20% distributed amongst Irish pension funds and institutions. Commercial Union retained a ~30% stake.[48]
  • May.1966: Hibernian Insurance Company Ltd: Commercial Union Assurance changed the company’s name.
  • Jun.1964: Commercial Union Assurance Company Ltd acquired 100% of Hibernian's shareholdings, including the Bank of Ireland's majority stake.[49] Commercial Union's Irish operations, plus the Irish business of Northern & Employers Insurance, were subsequently transferred in.[48]
  • 1946: Marine insurance, in partnership with the Irish National Insurance Company Ltd, was added to the Hibernian's operations.
  • 1940: Hibernian started to transact engineering business.
  • 1935: Consortium: Guardian Assurance sold its majority stake in Hibernian Fire to a consortium of Irish firms, including the Bank of Ireland.[50]
  • 1931: Hibernian was offering fire, accident, motor, fidelity guarantee and plate glass insurance.
  • 1925: Guardian Assurance Company Ltd acquired a majority shareholding of ~90%.[51][52]
  • May.1908: The Hibernian Fire & General Insurance Company Ltd was established in Dublin, primarily providing fire insurance,[51] concentrating on public authority business from the Dublin Corporation.

Norwich Union

Overview (1998): link, Logopedia Norwich Union, pic, pic, pinterest pics, norwich-union.co.ukArchive-org-sm.svg, norwichunion.com/Archive-org-sm.svg Logopedia, CGNU, Logopedia, CGU?, Logopedia, CGU Insurance

  • May.2000: § CGNU plc: The merger with CGU was announced. The Norwich Union name was retained for CGNU's life and pensions, retail fund management and general insurance businesses in the UK.
  • Dec.1999: bluecycle.comArchive-org-sm.svg, an internet auction site, was launched, offering bargain hunters access to goods recovered by organisations such as insurance companies and police forces, as well as a variety of end of line retail goods, with a focus on auto salvage.
  • Oct.1999: British & European Life Reinsurance Co. Ltd, CGU plc's life reinsurance portfolio, was sold to World-Wide Reassurance Company Ltd, owned by Pacific Mutual Holdings Company.
  • Jul.1999: CGU Life acquired 49 estate agency branches from the Halifax.
  • Mar.1999: Morley Fund Management, CGU's London-based asset management division, was formed to hold CGU's three core businesses: asset management, life insurance, general insurance. Morley Fund Management managed external pension funds, institutional investment funds and mutual funds, as well as insurance assets for the CGU Group. In Feb.2008, as part of the group-wide rebrand, the Morley operations were rebranded as "Aviva Investors", bringing together Aviva plc's various asset management businesses under a single management structure and brand.[53] morleyfm.comArchive-org-sm.svg, avivainvestors.comArchive-org-sm.svg, avivainvestors.com
  • Jul.1998: Commercial Union Investment Management Ltd, GA InvestmentManagement Services Ltd and General Accident Managed Pension Funds Ltd were merged.
  • Jun.1998: CGU plc was the holding company resulting from the merger of Commercial Union and General Accident, to create one of the world's largest financial services groups. The rationale behind the merger was to create a world-scale insurance group with a strong presence in European life and savings, a major asset manager, and a leading position in general insurance.
  • Apr.1998: Maritime Insurance Company was sold to Chicago-based CNA Financial Corporation, a unit of the Loews Corporation.[54]
  • Sept.1998: Portfolio Partners Ltd, an Australian fund management company formed in 1994, was acquired. From 2002-2008 the business was part of the Morley Fund Management Group of Companies (the UK-based asset management arm of Aviva plc); in Sept.2008, it became part of the Aviva Investors global asset management group of companies. Portfolio Partners LtdOpenCorporates-sm.svg
  • 1997: Norwich Union plc: Norwich Union demutualised and floated as a public limited company on the London Stock Exchange.
  • 1996: Norwich Union Direct was established to sell general insurance products to customers who preferred to deal direct with Norwich Union. A telephone-based business, Norwich Union Direct provided car, home and motorcycle insurance direct to customers, rather than through intermediaries. norwich-union.co.uk/direct/Archive-org-sm.svg
  • 1995: Norwich Union moved into direct selling with a 50% in Virgin Direct, before selling its stake to launch its own Norwich Union Direct operation in 1996. todo: https://www.virginmoneyukplc.com/investor-relations/results-and-reporting/financial-results/
  • 1990: Norwich Union Healthcare was formed to sell private medical insurance in the UK. Plus Ultra in Spain, and State Insurance in New Zealand, were also acquired. norwich-union.co.uk/healthcare/Archive-org-sm.svg
  • 1959: The Scottish Union & National Insurance Company was acquired. The acquisition included the Maritime Insurance Company.[54]
  • 1925: Norwich Union Fire Insurance Office was taken over by the Norwich Union Life Insurance Society from the Phoenix Assurance Company.[55]:375
  • 1908: The Norwich & London Accident Insurance Association acquisition extended the Norwich Union portfolio to include marine and motor insurance.
  • 1877: Trademark: Norwich Cathedral first appeared as a company trade mark, used in various forms over the years.
  • The Amicable Society for a Perpetual Assurance Office, founded by a charter of Queen Anne in Jul.1706, was acquired.
  • 1821: Norwich Union Life Insurance Society Ltd: Norwich Union Society and the Norwich General Assurance Company operations were united; the Fire Society demutualised after it absorbed the Norwich General Assurance Company.[56]:41
  • 1808: Norwich Union Life Insurance Society, a 2nd mutual society, was established by Thomas Bignold.[56]:13
  • 1797: Norwich Union Society for the Insurance of Houses, Stock & Merchandise from Fire was founded by Thomas Bignold, a wine merchant and banker. The mutual society was owned by the policyholders, who also received a share of the profits. The company operated its own fire brigades to protect the society's policyholders; insured buildings were identified by "fire insurance marks". The society was later known as the Norwich Union Fire Insurance Office.
  • 1792: Norwich General Assurance Company was founded.[56]:7
  • Feb.1787: Norwich Insurance Fire Office, aka "Norwich Union Fire Insurance" was established.[56]:9
Additional Sources:
Norwich Union History. Norwich Union. Original archived on Jun.29.2007.
Ireland: Country History. Aviva plc. Original archived on Nov.12.2014.

ToDo: History Timeline, HeritageArchive-org-sm.svg, TimelineArchive-org-sm.svg, Legacy Companies, Aviva Group Archive, Aviva@Medium, HistoryPin, Company Histories

Scottish Union & National Insurance Company

  • 1833: the company obtained a royal charter and was incorporated under an act of parliament on Apr.09.1847.
  • Nov.1824: The Union Insurance Company was established as the Scottish Union Insurance Company.
ToDo: link, link, link, link, link

Pics: link, link, link, link, link

References

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  2. ^ Aviva under fire for pouring £370m into Polish coal industry. UK insurer accused of undermining international efforts to fight climate change. UK insurer Aviva is the 2nd-biggest investor in the Polish coal industry, the most polluting in Europe. Polish companies are planning to build power plants able to generate more than 10 gigawatts and open new mines holding more than 3.2bn tonnes of lignite, the dirtiest form of coal. Julia Kollewe, The Guardian, Feb.08.2018.
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  5. ^ Aviva plans Delta Lloyd IPO. Myles Neligan, Reuters, Aug.06.2009.
  6. ^ Aviva to cut 1,800 insurance jobs. BBC News, Jun.06.2008.
  7. ^ Norwich Union brand to disappear. BBC News, Apr.29.2008.
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  9. ^ IAG concludes takeover of CGU, NZI. The Sudney Morning Herald, Jan.03.2003.
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  14. ^ White Mountains to Buy CGNU Unit With Some Help From Warren Buffett. Daniel Golden, The Wall Street Journal, Sept.26.2000.
  15. ^ The Board of CGNU announces that the Group has entered into a definitive agreement to sell its interest in its US general insurance operations to White Mountains Insurance Group, Ltd. Press Release, CGNU plc, Sept.24.2000.
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  17. ^ CGU at forefront of home move portal. Ravi Chandiramani, Campaign, May.17.2000.
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  24. ^ Hurricane failed to blow GA off course. via The British Newspaper Archive, Dundee Courier, Nov.10.1988.    
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  32. ^ NatWest to sell Mercantile stake. The Times Archive, Apr.04.1972.
  33. ^ Mercantile Credit. Another record group profit. Successful offer for The Astley Industrial Trust. The Times Archive, Jan.07.1971.
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