Eagle Star Insurance

Last updated

Eagle Star
Industry Insurance
Founded1904
Defunct1999
FateAcquired
Successor Zurich Financial Services
Headquarters Cheltenham, Gloucestershire, England, United Kingdom
Key people
Sir Denis Mountain, (Chairman)

The Eagle Star Insurance Company plc (formerly Eagle Star Insurance Company Limited) was a leading British insurance business. It underwrote the full range of risks including liability, fire, accident, marine, motor, life, contingency and Pluvius (weather) insurance. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. [1]

Contents

History

Former Eagle Star building on The Headrow in Leeds. Former Eagle Star Insurance building, the Headrow, Leeds (1st May 2018).jpg
Former Eagle Star building on The Headrow in Leeds.
Former Eagle Star Insurance building at the Regent Centre, Gosforth, Newcastle upon Tyne. Regent Centre - Eagle Star House.jpg
Former Eagle Star Insurance building at the Regent Centre, Gosforth, Newcastle upon Tyne.

The Company was founded by Edward Mountain in 1904 as the British Dominions Marine Insurance Company, which operated as a marine insurance office in the five principal overseas Dominions. [2] It started writing fire and accident policies in 1911 and life assurance policies in 1916. [2]

It expanded rapidly in its early years acquiring the Eagle (founded by Sir William Rawlins in 1807) in 1916 and both the Sceptre (founded in 1864) and the Star (founded in 1843) in 1917. [2] It was renamed the Eagle Star & British Dominions in 1917 and Eagle Star in 1937. [2]

For many years its Head Office was at the prestigious address 1 Threadneedle Street, London EC2. However, a new administrative head office and computer centre was opened in Cheltenham in October 1968. [2]

In 1981 it fought off a takeover bid from Allianz, the German insurance Group. [3]

It was acquired by BAT Industries for £968m in 1984. [2] It continued to trade, under the Eagle Star name, until acquisition by Zurich Financial Services in 1999. [4]

In the 1980s, the company supported the Nature Conservatory and the Royal Society for the Protection of Birds in the successful reintroduction of sea eagles to Scotland. [5]

See also

Related Research Articles

<span class="mw-page-title-main">FTSE 100 Index</span> Share index of the London Stock Exchange

The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. The index is maintained by the FTSE Group, a subsidiary of the London Stock Exchange Group.

<span class="mw-page-title-main">Friends Provident</span> British life insurance company

Friends’ Provident Insurance was founded in 1832 to serve the needs of the Society of Friends (Quakers). Based in Bradford, it concentrated on sickness and annuity policies until its life fund acquired Century Insurance in 1918, expanding into general insurance. The restriction to Quaker membership was an increasing constraint but the ties were substantially reduced by the Friends’ Proviant Institution Act 1915. Although Century’s branch network enabled FPI to expand, the periodic underwriting losses strained the life fund’s capital base and Century was sold in 1975. In the year 2000, Friends Provident demutualised and listed on the FT100 Index. After abortive takeover negotiations, Friends accepted a takeover bid from Resolution Limited in 2009.

Prudential plc British multinational life insurance and financial services company

Prudential plc is a British multinational insurance company headquartered in London, England. It was founded in London in May 1848 to provide loans to professional and working people.

<span class="mw-page-title-main">Zurich Insurance Group</span> Company

Zurich Insurance Group Ltd is a Swiss insurance company, headquartered in Zürich, and the country's largest insurer. As of 2021, the group is the world's 112th largest public company according to Forbes' Global 2000s list, and in 2011 it ranked 94th in Interbrand's top 100 brands.

Centrica plc is a British multinational energy and services company with its headquarters in Windsor, Berkshire. Its principal activity is the supply of electricity and gas to consumers in the United Kingdom and Ireland.

Norwich Union Defunct British branch of Aviva

Norwich Union was the name of insurance company Aviva's British arm before June 2009. It was originally established in 1797. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.

Allied Dunbar

Allied Dunbar was a large British life assurance group. In its early years it was known as Hambro Life Assurance and was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. However it was acquired by BAT Industries, merged with Eagle Star, and sold to Zurich Financial Services in 1998.

Samsung Fire & Marine Insurance is an insurance company based in Seoul, South Korea. Incorporated on January 26, 1952, under the name of "Korea Anbo Fire Marine Reinsurance Co.", the company changed its name to Samsung Fire & Marine Insurance Co., Ltd., in December 1993, after its takeover by Samsung Group dated back to 1958. Samsung Fire & Marine Insurance, SFMI in short, is operating property and casualty insurance business and third-party insurance business defined by the Korea Insurance Business Act, while engaging in providing financial services and instruments approved by relevant laws and regulations including the Korea Financial Investment Services and Capital Markets Act. Its business portfolio consists of automobile insurance, long-term insurance, general insurance, enterprise risk management, annuities, etc. As of the end of 2015, Samsung Fire & Marine Insurance has seven overseas subsidiaries in Indonesia, Vietnam, China, Brazil, Europe, US, and Singapore.

History of insurance

The history of insurance traces the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment.

Beazley PLC is the British parent company of specialist insurance businesses with operations in Europe, the US, and Asia. Beazley manages six Lloyd's syndicates. Beazley plc is incorporated in the UK. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Hiscox

Hiscox Ltd. is an Anglo-Bermudan insurance provider, listed on the London Stock Exchange. An underwriter at Lloyd's of London, the company largely specialises in niche areas of the market, offering property and casualty insurance aimed at companies and high-net-worth individuals, as well as cover against such risks as hacking, kidnapping and satellite damage. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Monks Investment Trust was incorporated in 1929 and was one of three trusts founded in the late 1920s by a group of investors headed by Sir Auckland Geddes. The other two trusts were The Friars Investment Trust and The Abbots Investment Trust. The company secretary's office was at 13/14 Austin Friars in the City of London hence the names. Sir Auckland Geddes was a former professor of anatomy who, during the First World War, had become Director of Recruiting at the War Office. He then went on to become a Unionist MP and a Cabinet Minister as President of the Board of Trade.

DS Smith British multinational packaging business

DS Smith plc is a British multinational packaging business, headquartered in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Abbey Life Assurance Company Limited is a life assurance business based in London also with an office in Bournemouth. The company has been closed to new business in 2000.

Guardian Royal Exchange Assurance British insurance company

Guardian Royal Exchange Assurance plc was a large British insurance company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.

Sun Life & Provincial Holdings

Sun Life & Provincial Holdings plc was a large British insurance company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. It was acquired by French insurance company Axa Group in 1996.

Sir Edward Mortimer Mountain, 1st Baronet (1872–1948) was the founder of Eagle Star Insurance which became one of the largest insurance companies in the United Kingdom.

Lancashire Holdings is a Bermuda-based insurance company operating in Bermuda and London. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Phoenix Group Holdings plc is a provider of insurance services based in London, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

British & Foreign Marine

British & Foreign Marine was one of the leading marine insurers in Liverpool, England in the second half of the nineteenth century, at one point claiming to have the largest reserves of any marine insurer in Europe. It was acquired by Royal Insurance in 1909 but continued as an independent entity for several decades.

References

  1. "FTSE: FTSE 100 Constituent Changes" (PDF).
  2. 1 2 3 4 5 6 "Eagle Star at Euroarchive". Archived from the original on 31 July 2012. Retrieved 28 February 2009.
  3. Sir Denis Mountain: obituary The Independent, 6 January 2006
  4. Zurich - a new name for Eagle Star Archived 2009-04-10 at the Wayback Machine Irish Times
  5. Dennis, Roy (2021). Restoring the Wild. Collins. p. 41. ISBN   978-0008368814.