188:
84:
278:
367:
legally distinct from the Fire Office, the two companies had identical boards of management. Before 1830, fire business was split equally between London and the provinces but by the 1880s more than 70 per cent was in the provinces. This was achieved by a huge increase in agencies, totalling over 800 by 1860 and over 1,200 by 1880. By then, Sun Fire was turning its attention to all forms of general insurance but, as was the case with life assurance, it was limited by the terms of its original deeds. This was overcome by a special act of
Parliament, the
48:, in 1708. Povey had been a pamphleteer and unsuccessful businessman. He had established a fire insurance company, the Exchange House Fire Office, in 1708 but after a takeover in 1710, he immediately fell out with his fellow directors and was forced to handover control. For the first decade the level of business was small and erratic until, in 1720, a takeover bid brought in a new board of directors; they raised fresh capital in order to finance an increased level of business. The first county agent was appointed in
424:
in the 1880s. The Sun was one of the last
British companies to enter the United States on any scale but the region soon became the Sun's largest overseas market. This was effected by the 1885 acquisition of the Watertown Company, which operated in 30 states and through around 1,400 agencies. By the
366:
The early 1800s saw a slowdown in the rate of growth due to rising loss rates. In 1810, the directors decided to expand into life assurance but the original deeds only allowed for the acceptance of fire insurance. A separate company, the Sun Life
Assurance Company, was formed and although it was
395:
in 1842 "nearly strangled the infant overseas business at birth". In broad terms the development of overseas business before 1914 was primarily through agencies, although some policies were written from London. In the 1850, agencies were opened in the
295:
An Act to repeal and re-enact with amendments the Sun Fire Office Acts 1813 and 1827 to make further provisions in relation to the Laws
Objects Regulations and Capital of the Company to change the name of the Company and for other
437:
The 20th century saw an increase in the range of cover. In 1907 the Sun set up an accident department, reflecting the growth of mass transport and machines. Sun
Insurance had been absent from one of the oldest markets,
52:
in 1721. By 1740 there were 51 agents and, in 1786, 123 ranging throughout
England and Scotland. By the 1790s Sun Fire was dominant among the fire offices with premium income of over £100,000.
450:
to operate a joint marine underwriting account. Organisationally, Sun
Insurance became a public limited company in 1926 and for the first time shareholders' liability was limited by law.
580:
585:
23:, was founded in London in 1710 and developed into a leading international insurance business. In 1959, Sun Insurance merged with
301:
200:
106:
525:
Dickson, P. M. G. (1962). "The Sun
Insurance Office 1710-1960. The History of Two and a Half Centuries of British Insurance".
552:
44:
The Sun Fire Office was formed in 1710 when a group of 25 businessmen acquired an insurance company formed by one of them,
101:
An Act to enable The Sun Fire Office
Company to sue and be sued in the Name of their Treasurer, under certain Regulations.
442:
and in 1921 it formed a marine department. This was enlarged by its 1931 acquisition of the Elder's
Insurance Company of
500:
282:
192:
88:
358:
250:
400:, South America, South Africa and the Far East. In the 1860s the emphasis was on France, Spain, Italy, the
156:
447:
28:
392:
290:
96:
462:
An account of the Fire Insurance Companies...including the Sun Office; also of Charles Povey
8:
24:
534:
439:
376:
306:
205:
425:
end of the 19th century, revenue from the USA equalled that of the home market.
387:
In 1836 the Sun made the decision to go overseas, its first target market being
401:
574:
421:
45:
429:
was strengthened by the purchase of the Imperial Insurance Company in 1911.
319:
218:
124:
417:
409:
397:
379:
c. xcvii) which also saw a change in name to the Sun Insurance Office.
49:
443:
413:
111:
538:
388:
426:
233:
139:
490:
PGM Dickson, The Sun Insurance Office 1710-1960, Oxford, 1960
405:
505:
International Risk Management Institute, Inc. (IRMI)
572:
382:
581:Insurance companies of the United Kingdom
486:
484:
482:
480:
524:
573:
477:
459:
501:"The World's First Insurance Company"
359:Text of statute as originally enacted
251:Text of statute as originally enacted
157:Text of statute as originally enacted
432:
55:
39:
13:
453:
14:
597:
446:and its 1938 agreement with the
343:Sun Fire Office Company Act 1827
340:Sun Fire Office Company Act 1813
283:Parliament of the United Kingdom
276:
193:Parliament of the United Kingdom
186:
173:Sun Fire Office Company Act 1827
89:Parliament of the United Kingdom
82:
69:Sun Fire Office Company Act 1813
586:Insurance in the United Kingdom
545:
518:
493:
420:came in the 1870s followed by
1:
470:
466:(extensive material on Povey)
371:Sun Insurance Office Act 1891
265:Sun Insurance Office Act 1891
238:Sun Insurance Office Act 1891
144:Sun Insurance Office Act 1891
7:
527:The Economic History Review
352:Status: Current legislation
19:The Sun Fire Office, later
10:
602:
258:United Kingdom legislation
164:United Kingdom legislation
60:United Kingdom legislation
34:
357:
350:
333:
328:
318:
313:
300:
289:
275:
270:
263:
249:
242:
232:
227:
217:
212:
199:
185:
180:
169:
155:
148:
138:
133:
123:
118:
105:
95:
81:
76:
65:
553:"Sun Alliance Group plc"
448:Royal Exchange Assurance
383:International expansion
460:Relton, F. B. (1893).
393:Great fire of Hamburg
555:. Encyclopaedia.com
533:. Wiley: 567–569.
25:Alliance Assurance
377:54 & 55 Vict.
364:
363:
329:Other legislation
307:54 & 55 Vict.
271:Act of Parliament
256:
255:
228:Other legislation
181:Act of Parliament
162:
161:
134:Other legislation
77:Act of Parliament
16:Insurance company
593:
565:
564:
562:
560:
549:
543:
542:
522:
516:
515:
513:
511:
497:
491:
488:
465:
440:marine insurance
433:The 20th century
373:
372:
280:
279:
266:
261:
260:
244:Status: Repealed
206:7 & 8 Geo. 4
190:
189:
176:
175:
174:
167:
166:
150:Status: Repealed
129:17 December 1813
86:
85:
72:
71:
70:
63:
62:
56:The 19th century
40:The 18th century
601:
600:
596:
595:
594:
592:
591:
590:
571:
570:
569:
568:
558:
556:
551:
550:
546:
539:10.2307/2591902
523:
519:
509:
507:
499:
498:
494:
489:
478:
473:
464:. Sonnenschein.
456:
454:Further reading
435:
385:
370:
369:
353:
346:
334:Repeals/revokes
285:
277:
264:
259:
245:
195:
187:
172:
171:
170:
165:
151:
91:
83:
68:
67:
66:
61:
58:
42:
37:
17:
12:
11:
5:
599:
589:
588:
583:
567:
566:
544:
517:
492:
475:
474:
472:
469:
468:
467:
455:
452:
434:
431:
402:Ottoman Empire
384:
381:
362:
361:
355:
354:
351:
348:
347:
345:
344:
341:
337:
335:
331:
330:
326:
325:
322:
316:
315:
311:
310:
304:
298:
297:
293:
287:
286:
281:
273:
272:
268:
267:
257:
254:
253:
247:
246:
243:
240:
239:
236:
230:
229:
225:
224:
221:
215:
214:
210:
209:
203:
197:
196:
191:
183:
182:
178:
177:
163:
160:
159:
153:
152:
149:
146:
145:
142:
136:
135:
131:
130:
127:
121:
120:
116:
115:
109:
103:
102:
99:
93:
92:
87:
79:
78:
74:
73:
59:
57:
54:
41:
38:
36:
33:
15:
9:
6:
4:
3:
2:
598:
587:
584:
582:
579:
578:
576:
554:
548:
540:
536:
532:
528:
521:
506:
502:
496:
487:
485:
483:
481:
476:
463:
458:
457:
451:
449:
445:
441:
430:
428:
423:
422:North America
419:
415:
411:
407:
403:
399:
394:
391:, though the
390:
380:
378:
374:
360:
356:
349:
342:
339:
338:
336:
332:
327:
323:
321:
317:
312:
308:
305:
303:
299:
294:
292:
288:
284:
274:
269:
262:
252:
248:
241:
237:
235:
231:
226:
223:12 April 1827
222:
220:
216:
211:
207:
204:
202:
198:
194:
184:
179:
168:
158:
154:
147:
143:
141:
137:
132:
128:
126:
122:
117:
113:
110:
108:
104:
100:
98:
94:
90:
80:
75:
64:
53:
51:
47:
46:Charles Povey
32:
30:
26:
22:
21:Sun Insurance
557:. Retrieved
547:
530:
526:
520:
508:. Retrieved
504:
495:
461:
436:
386:
368:
365:
320:Royal assent
219:Royal assent
125:Royal assent
43:
29:Sun Alliance
20:
18:
418:New Zealand
410:Philippines
398:West Indies
324:3 July 1891
234:Repealed by
140:Repealed by
575:Categories
471:References
291:Long title
97:Long title
50:Nottingham
444:Liverpool
414:Australia
296:purposes.
208:. c. xxii
112:54 Geo. 3
408:and the
309:c. xcvii
302:Citation
201:Citation
107:Citation
27:to form
510:1 March
389:Germany
114:. c. ix
35:History
559:14 May
427:Canada
406:Japan
314:Dates
213:Dates
119:Dates
561:2022
512:2018
416:and
535:doi
577::
531:14
529:.
503:.
479:^
412:.
404:,
31:.
563:.
541:.
537::
514:.
375:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.