INSURANCE AMALGAMATION.

Dominion, Volume 5, Issue 1287, 16 November 1911, Page 7

INSURANCE AMALGAMATION.

POWERFUL COMPANIES JOIN FORCES. By Telegraph-Press Association—Copyright London, November 14. Tho Liverpool and Loudon and Globo Insuranco Company has decided to amalgamate with -tho Thames and Mersey Marino Insurance Company. If tho shareholders confirm tho amalgamation 6chemc the first-named company will carry en tho business, removing tho head office to Liverpool.

Tho Liverpool and London and Globe, ono of the giants of the insurance world, first saw tho light in 1836, as the Liverpool Firo and Life Insurance Company. In 1810 it took over tho business of the London, Edinburgh, and Dublin office, and obtained authority from Parliament to change tho name of tho company to the Liverpool and London. A series of amalgamations then followed, the most important of all being that with the Globe iu 1861, and the company then becamo known by its present title. With others it showed tho world, at tho time of tho Chicago conflagration, how British offices met their liabilities. Starting with a modest premium income of about .£IO,OOO, it lias now a net firo premium incomo of .£2,788,818, and assets, including life funds, of .£11,523,391. Tho Thames and Mersey was started in 1860, and has long been looked upon as ono of the leading British marine offices. It has a not premium incomo of .£311,309, the assets being .£810,270. Tho leading firo insurance offices of Great Britain nro following each other in tho absorption of offices having a purely inarino connection, tho Alliance Firo liaving absorbed the Alliance Marino; tho Royal that of the British and Foreign j tho London nnd Lancashiro that of (ho Standard: the Phoenix that of tho Union Marino of Liverpool; and aro thus coming into line with tho Royal Exchange Assuranco Corporation, the London Assurance Corporation, and tho Commercial Union. A similar absorption is going on of accredited companies.