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London Assurance Company
London Assurance was an English insurance company founded in 1720, in the midst of the South Sea Bubble speculation. It was acquired by Sun Alliance in 1965 to form the Sun Alliance and London. Background The period 1719-20 saw an upsurge in joint stock flotations with marine insurance being prominent. Amongst the embryo schemes were ones by Stephen Ram and James Colebrook and these provided “the seed” for London Assurance. Colebrook was a merchant banker and a heavy subscriber to the combined society. Stephen Ram was a member of the Court of the Goldsmiths Company, a treasurer of Corr’s lottery and had enjoyed mixed success with other speculative ventures. The London Assurance flotation came in January 1720 and was spectacularly successful, its share price rising even faster than that of the South Sea Company. However, the scale of the speculation led to the passing of the Bubble Act in June 1720. This forbade the formation of joint stock companies unless enabled by royal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Sea Company
The South Sea Company (officially The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of the Fishery) was a British joint-stock company founded in January 1711, created as a public-private partnership to consolidate and reduce the cost of the national debt. To generate income, in 1713 the company was granted a monopoly (the Asiento de Negros) to supply African slaves to the islands in the " South Seas" and South America. When the company was created, Britain was involved in the War of the Spanish Succession and Spain and Portugal controlled most of South America. There was thus no realistic prospect that trade would take place, and as it turned out, the Company never realised any significant profit from its monopoly. However, Company stock rose greatly in value as it expanded its operations dealing in government debt, and peaked in 1720 before suddenly collapsing to little above its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sun Alliance (company)
Sun Alliance Group plc was a large insurance business with its main offices in the City of London and later Horsham. It was created in 1959 by the merger of Sun Insurance, founded in 1710, and Alliance Assurance founded in 1824. In 1996 Sun Alliance merged with Royal Insurance to form the Royal & Sun Alliance Insurance Group. In the mid-1960s Sun Alliance established its administrative centre in a large office block, spanning an A-road through the town centre of Horsham Horsham is a market town on the upper reaches of the River Arun on the fringe of the Weald in West Sussex, England. The town is south south-west of London, north-west of Brighton and north-east of the county town of Chichester. Nearby tow ..., a railway town south of London's centre. and its head office at 1 Bartholomew Lane in London. The Horsham building, St Marks Court is earmarked as developable. In an external recess, to the market place (Carfax) side, is the tall spired tower of the church. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Insurance
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier or related post, shipping insurance is used instead. History In December 1901 and January 1902, at the direction of archaeologist Jacques de Morgan, Father Jean-Vincent Scheil, OP found a 2.25 meter (or 88.5 inch) tall basalt or diorite stele in three pieces inscribed with 4,130 lines of cuneiform law dictated by Hammurabi (c. 1792–1750 BC) of the First Babylonian Empire in the city of Shush, Iran. Code of Hammurabi Law 100 stipulated repayment by a debtor of a loan to a creditor on a s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldsmiths Company
The Worshipful Company of Goldsmiths, commonly known as the Goldsmiths' Company and formally titled The Wardens and Commonalty of the Mystery of Goldsmiths of the City of London, is one of the Great Twelve Livery Companies of the City of London. The company's headquarters are at Goldsmiths' Hall, London EC2. The company, which originates from the twelfth century, received a Royal Charter in 1327 and ranks fifth in the order of precedence of City Livery Companies. Its motto is ''Justitia Virtutum Regina'', Latin for ''Justice is Queen of Virtues''. History The company was first established as a medieval guild for the goldsmith trade. The word ''hallmarking'' derives from the fact that precious metals were officially inspected and marked at Goldsmiths' Hall. In 1812, twenty almshouses were built on the former Perryn estate in Acton, on open land west of London. The almshouses were built on land which had been left to the company by John Perryn in 1657. In 1891, the Gol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bubble Act
The Bubble Act 1720 (also Royal Exchange and London Assurance Corporation Act 1719) was an Act of the Parliament of Great Britain passed on 11 June 1720 that incorporated the Royal Exchange and London Assurance Corporation, but more significantly forbade the formation of any other joint-stock companies unless approved by royal charter. Its provisions were extended later by the Bubble Schemes, Colonies, Act 1740 to include its colonies, particularly Massachusetts. The act gave the South Sea Company a monopoly over British trade with South America until the South Sea Bubble "popped" in Britain's first major stock market collapse. Background Various motivations have been suggested for the Act. They include the desire to prevent the speculation that produced the contemporary South Sea Bubble, an attempt to prevent smaller non-charter companies from forming and so reduce the importance of Parliament in regulating businesses; or the South Sea Company itself wanting to prevent other b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Stock Companies
A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern-day corporate law, the existence of a joint-stock company is often synonymous with incorporation (possession of legal personality separate from shareholders) and limited liability (shareholders are liable for the company's debts only to the value of the money they have invested in the company). Therefore, joint-stock companies are commonly known as corporations or limited companies. Some jurisdictions still provide the possibility of registering joint-stock companies without limited liability. In the United Kingdom and in other countries that have adopted its model of company law, they are known as unlimited companies. In th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Charter
A royal charter is a formal grant issued by a monarch under royal prerogative as letters patent. Historically, they have been used to promulgate public laws, the most famous example being the English Magna Carta (great charter) of 1215, but since the 14th century have only been used in place of private acts to grant a right or power to an individual or a body corporate. They were, and are still, used to establish significant organisations such as boroughs (with municipal charters), university, universities and Learned society, learned societies. Charters should be distinguished from Royal warrant of appointment, royal warrants of appointment, grant of arms, grants of arms and other forms of letters patent, such as those granting an organisation the right to use the word "royal" in their name or granting city status in the United Kingdom, city status, which do not have legislative effect. The British monarchy List of organisations in the United Kingdom with a royal charter, has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Exchange, London
The Royal Exchange in London was founded in the 16th century by the merchant Sir Thomas Gresham on the suggestion of his factor Richard Clough to act as a centre of commerce for the City of London. The site was provided by the City of London Corporation and the Worshipful Company of Mercers, who still jointly own the freehold. The original foundation was ceremonially opened by Queen Elizabeth I who granted it its "royal" title. The current building is trapezoidal in floor plan and is flanked by Cornhill and Threadneedle Street, which converge at Bank junction in the heart of the city. It lies in the ward of Cornhill. The exchange building has twice been destroyed by fire and subsequently rebuilt. The present building was designed by Sir William Tite in the 1840s. The site was notably occupied by the Lloyd's insurance market for nearly 150 years. Today the Royal Exchange contains Fortnum & Mason The Bar & Restaurant, luxury shops, and offices. Traditionally, the ste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyd’s Of London
Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body governed by the Lloyd's Act 1871 and subsequent Acts of Parliament. It operates as a partially-mutualised marketplace within which multiple financial backers, grouped in syndicates, come together to pool and spread risk. These underwriters, or "members", are a collection of both corporations and private individuals, the latter being traditionally known as "Names". The business underwritten at Lloyd's is predominantly general insurance and reinsurance, although a small number of syndicates write term life insurance. The market has its roots in marine insurance and was founded by Edward Lloyd at his coffee house on Tower Street in 1688. Today, it has a dedicated building on Lime Street which is Grade I listed. Traditionally business is tran ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Chetwynd, 1st Viscount Chetwynd
Walter Chetwynd, 1st Viscount Chetwynd (3 June 1678 – 21 February 1736), of Rudge and Ingestre, Staffordshire was a British Whig politician who sat in the House of Commons between 1702 and 1734. Chetwynd was the eldest son of John Chetwynd of Ingestre and his wife Lucy Roane, daughter of Robert Roane of Tullesworth, Chaldon, Surrey, and was baptized on 3 June 1678. In 1693 he succeeded to the Ingestre estates on the death of his cousin Walter Chetwynd (1633–1693). He was educated at Westminster School from 1692 to 1696 and matriculated at Christ Church, Oxford on 28 May 1696, aged 18. He married Mary Berkeley, daughter of John Berkeley, 4th Viscount Fitzhardinge on 27 May 1703. Chetwynd was returned unopposed as Member of Parliament for Stafford at a by-election on 26 December 1702 on the death of his father. In 1705 he was appointed joint Master of Buckhounds to Prince George of Denmark. He was returned as MP for Stafford again in 1705 and 1708. In 1709 he was appointe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
16 & 17 Vict
Sixteen or 16 may refer to: *16 (number), the natural number following 15 and preceding 17 *one of the years 16 BC, AD 16, 1916, 2016 Films * ''Pathinaaru'' or ''Sixteen'', a 2010 Tamil film * ''Sixteen'' (1943 film), a 1943 Argentine film directed by Carlos Hugo Christensen * ''Sixteen'' (2013 Indian film), a 2013 Hindi film * ''Sixteen'' (2013 British film), a 2013 British film by director Rob Brown Music * The Sixteen, an English choir * 16 (band), a sludge metal band * Sixteen (Polish band), a Polish band Albums * ''16'' (Robin album), a 2014 album by Robin * 16 (Madhouse album), a 1987 album by Madhouse * ''Sixteen'' (album), a 1983 album by Stacy Lattisaw *''Sixteen'' , a 2005 album by Shook Ones * ''16'', a 2020 album by Wejdene Songs * "16" (Sneaky Sound System song), 2009 * "Sixteen" (Thomas Rhett song), 2017 * "Sixteen" (Ellie Goulding song), 2019 *"16", by Craig David from '' Following My Intuition'', 2016 *"16", by Green Day from ''39/Smooth'', 1990 *"16", ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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