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CGU Plc
CGU plc was a large insurance group, created by the merger of Commercial Union and General Accident in 1998. The company was listed on the London Stock Exchange. It merged with Norwich Union in 2000 to form CGNU plc, later renamed Aviva plc. History The company was created by the 1998 merger of Commercial Union and General Accident. It only existed for two years before it merged with Norwich Union in 2000 to form CGNU plc, later renamed Aviva plc. In the US, the CGU casualty and property businesses were purchased by White Mountains Insurance Group; the name of the company was later changed to ''OneBeacon Insurance Company''. References Aviva Financial services companies established in 1998 Insurance companies of the United Kingdom Companies formerly listed on the London Stock Exchange 1998 establishments in the United Kingdom Financial services companies disestablished in 2000 2000 disestablishments in the United Kingdom {{company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White Mountains Insurance Group
White Mountains Insurance Group is a diversified insurance and related financial services holding company based in Hamilton, Bermuda. Redomiciled from Delaware, United States, on October 25, 1999, the company conducts most of its business through its insurance subsidiaries and other affiliates. The company owned the automobile insurer Esurance before selling it to Allstate The Allstate Corporation is an American insurance company, headquartered in Northfield Township, Illinois, near Northbrook since 1967. Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993 but still partially owned by S ... for $1 billion. Heritage White Mountain Insurance Group began in the early 1980s by John J. Byrne, the man recruited by American Express to turn around troubled property and casualty insurer Fireman's Fund. When Byrne took Fireman's Fund public in 1985, it was the largest IPO in American history, and the insurer was sold to Allianz six years later. Upon com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Establishments In The United Kingdom
1998 was designated as the ''International Year of the Ocean''. Events January * January 6 – The '' Lunar Prospector'' spacecraft is launched into orbit around the Moon, and later finds evidence for frozen water, in soil in permanently shadowed craters near the Moon's poles. * January 11 – Over 100 people are killed in the Sidi-Hamed massacre in Algeria. * January 12 – Nineteen European nations agree to forbid human cloning. * January 17 – The ''Drudge Report'' breaks the story about U.S. President Bill Clinton's alleged affair with Monica Lewinsky, which will lead to the House of Representatives' impeachment of him. February * February 3 – Cavalese cable car disaster: A United States military pilot causes the deaths of 20 people near Trento, Italy, when his low-flying EA-6B Prowler severs the cable of a cable-car. * February 4 – The 5.9 Afghanistan earthquake shakes the Takhar Province with a maximum Mercalli intensity of VII (''Very strong''). With up ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Formerly Listed On The London Stock Exchange
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Companies Of The United Kingdom
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 1998
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aviva
Aviva plc is a British multinational insurance company headquartered in London, England. It has about 18 million customers across its core markets of the United Kingdom, Ireland and Canada. In the United Kingdom, Aviva is the largest general insurer and a leading life and pensions provider. Aviva is also the second largest general insurer in Canada. Aviva also has a focus on the growth markets of China and South East Asia through investments and joint ventures with other firms. Aviva has a primary listing on the London Stock Exchange, and is a constituent of the FTSE 100 Index. Name The name of the company upon its formation in May 2000 was CGNU plc and was created when Norwich Union merged with insurer CGU. In April 2002, the company's shareholders voted to change the company name to Aviva plc, an invented palindrome word derived from "viva", the Latin for 'alive' and designed to be short, memorable and work worldwide. The Norwich Union brand, however, was retained for the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OneBeacon
Intact Insurance Specialty Solutions is the brand used by Intact Financial to provide specialty insurance products in Canada and the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie .... These products are sold through independent agencies, regional and national brokers, wholesalers and managing general agencies, to over 20 industry and customer groups. History 2001- White Mountains/CGU On June 1, 2001, White Mountains Insurance Group, Ltd. acquired CGU's U.S. operations, and the company was renamed OneBeacon Insurance Group after the company's former "hometown" address of 1 Beacon Street in Boston. CGU had its roots in a merger between Commercial Union and General Accident Insurance. 2006- IPO & Specialty Niche In 2001, the company had two specialty businesses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London. Since 2007, it has been part of the London Stock Exchange Group (LSEG, that it also lists ()). The LSE was the most-valued stock exchange in Europe from 2003 when records began till Autumn 2022, when the Paris exchange was briefly larger, until the LSE retook its position as Europe’s largest stock exchange 10 days later. History Coffee House The Royal Exchange had been founded by English financier Thomas Gresham and Sir Richard Clough on the model of the Antwerp Bourse. It was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their rude manners. They had to operate from other establishments in the vicinity, notably Jona ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norwich Union
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. On 29 April 2008, Aviva announced that the Norwich Union brand would be phased out and disappear over a period of two years, on the grounds that a consistent Aviva brand would bring "global impact". On 1 June 2009, Norwich Union was rebranded as Aviva. History Norwich Union was founded in 1797 in Norwich, when 36-year-old merchant and banker Thomas Bignold formed the "Norwich Union Society for the Insurance of Houses, Stock and Merchandise from Fire", a mutual society owned by the policyholders who received a share of the profits.Aviva: Timeline This in turn became known as the Norwich Union F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Accident
General Accident plc was a large insurance business based in Perth, Scotland, Perth, Scotland. It merged with Commercial Union in 1998 to form CGU plc. History The Norie-Miller years The Employers' liability act of 1880 opened a new area of insurance and one of the many companies formed to serve that market was formed in Perth, Scotland in 1885. The General Accident and Employers’ Liability Assurance Association was launched by local businessmen with a capital of only £5,000 and its main object was to provide local farmers and others with accident insurance. Its first policy was written in March 1886 and at its opening AGM it reported premium income of £2,700. What happened then was to radically change the future of the insurer, with the appointment of the 27-year-old Francis Norie-Miller as Secretary and manager. Norie-Miller had previously been the Assistant Manager of Mercantile Accident of Glasgow. His reign spanned over half a century, remaining as managing director un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Union
Commercial Union plc was a large insurance business based in London. It merged with General Accident in 1998 to form CGU plc. History Commercial Union was established following a conflagration near London Bridge in 1861, known as the Great Tooley Street Fire, which destroyed a number of warehouses and wharves along the River Thames as a result of which the fire insurance companies were hit by a series of massive claims. Consequently, they increased their fire insurance rates so dramatically that a group of local merchants and brokers decided to form their own company. This became known as the Commercial Union Assurance Company.Liveing, Edward. '' A Century of Insurance: The Commercial Union Assurance Group 1861 - 1961''. London: H F & G Witherby, 1961 The company established its head office at 24-26 Cornhill in London in 1897. It purchased the Hand in Hand Fire & Life Insurance Society, the world's oldest fire insurance company, in 1905 and The Ocean Accident and Guarantee Cor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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