Pelican and British Empire Life Insurance Company
Pelican and British Empire Life Insurance Company was a British life insurance company. It was established in 1797 by Phoenix Assurance as the Pelican Life Office, later the Pelican Life Assurance Company, before merging with British Empire Mutual Life Assurance in 1903 to become the Pelican and British Empire Life Insurance Company.
History
The Phoenix established the Pelican Life Office in 1797,[1] acquiring premises at 70 Lombard Street in the City of London to open its office.
The building had been commissioned in 1757 by merchant banker Sir Charles Asgill as the sole premises of his private bank, engaging the services of architect Sir Robert Taylor to design the building. However, a decade after Asgill's death and after the 1796 closure of his bank,[2] it became an ideal location for Pelican. To adorn its building, Pelican added an allegorical sculptural group to the previously plain facade; the group was designed by Lady Diana Beauclerk and sculpted by John de Veere of the Coade Stone factory. The building was demolished in 1915, but the sculptural group is in the Horniman Museum, London.[3]
To attract customers, the Pelican Insurance Company spent £375 annually on 1,500 railway posters. Life insurance for the London, although it had begun as far back as 1721, remained quiescent until the early decades of the 19th century, in contrast to the energetic efforts being made at the Pelican Life Assurance.[1]
In 1901, Pelican possessed £1,296,331 in life funds, attracted some £300,000 in new sums assured and earned a total premium income of £121,779. The Pelican was a proprietary company with share-owners.[4]
After 110 years of business, in 1907 Phoenix reabsorbed its own offspring, Pelican Life Assurance, at that time known as the Pelican and British Empire Life Office, and thus began its career as a composite insurer.[1] Sun Alliance & London acquired Phoenix Assurance in 1984.[5]
Archives for Pelican Life Assurance Company
The Phoenix archive collection includes nearly all the surviving company records, as well as papers of the Pelican Life Assurance Company, including the Pelican subsidiaries Star (ST), British Empire Mutual (BE) and Positive (PO).[6]
References
- "Royal & Sun Alliance Insurance Group Plc". Encyclopedia.com. Retrieved 22 July 2021.
- "Vere & Asgill". Nat West Group Heritage Hub. Retrieved 24 July 2021.
- "Exterior view of 'The Pelican', the offices of Pelican and British Empire Life Insurance Company, at 70 Lombard Street". Historic England. Retrieved 22 July 2021.
- Trebilcock 1985, pp. 310–313.
- Trebilcock 1985, p. 1021.
- "Phoenix Assurance Company: Records and Papers". JISC Archives Hub. Retrieved 22 July 2021.
Source
- Trebilcock, Clive (1985). Phoenix Assurance and the Development of British Insurance: Volume 2, The Era of the Insurance Giants 1870–1984 (1 ed.). Cambridge University Press. ISBN 9780521254151.