Royal Exchange Assurance Corporation
- Royal Exchange Assurance Corporation
The Royal Exchange Assurance Corporation, founded in 1720, was a London insurance company. It took its name from the location of its offices at London's Royal Exchange.
The Company received its royal charter under the "Royal Exchange and London Assurance Corporation Act 1719", popularly known as the Bubble Act. Under the terms of this legislation, the Royal Exchange and the London Assurance Company were the only incorporated bodies chartered to write marine insurance. Although this eliminated competition from other corporations, private underwriters, such as those at Lloyd's of London would remain in business. This arrangement continued until the repeal of the act, in 1824.
Royal Exchange survived as an independent company for over two centuries until merging with Guardian Assurance Company in 1968. Guardian Royal Exchange was itself bought in 1999 by AXA, the French insurance giant.
Governors
Notable governors of the Royal Exchange Assurance Corporation included:
*Pascoe Grenfell (1829 - 1838)
*Thomas Tooke (1840 - 1852)
*Vivian Smith, 1st Baron Bicester (1914 - 1956)
*Hugh Kindersley, 2nd Baron Kindersley (1955 - 1968)
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