 | |
| Company type | Public |
|---|---|
| Industry | Insurance |
| Founded | 1995 |
| Defunct | 2000 |
| Fate | Acquired |
| Successor | Axa Group |
| Headquarters | London, UK |
Key people | Lord Douro, (Chairman) |
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.
The company was established in 1995 as a holding company for the Sun Life Assurance Society and the Provincial Insurance Company in both of which Union des Assurances de Paris (UAP) of France had acquired substantial holdings. [1]
The Sun Life Assurance Society was a life insurance offshoot, founded in 1810, of the Sun Fire Office. [2] The Head Office moved to Bristol in 1976. [3] UAP acquired 50% of the Sun Life Assurance Society in 1992. [4]
The Provincial Insurance Company was founded by Sir James Scott in Manchester in 1903. [5] The company moved its head office to Kendal in 1918. UAP acquired the Provincial Insurance Company for £300m in 1994. [4]
In 1997 Axa, who had acquired UAP in 1996, transferred its Equity & Law business into the company thereby increasing its holding in the company from 60% to 72%. [6] Then in May 2000 Axa acquired all shares it did not already own in the Company. [7]
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