Sun Life & Provincial Holdings

Not to be confused with Sun Life Financial.
Sun Life & Provincial Holdings
Public
Industry Insurance
Fate Acquired
Successor AXA Group
Founded 1995
Defunct 2000
Headquarters London, UK
Key people
 Lord Douro, (Chairman)

Sun Life & Provincial Holdings plc was a large British insurance company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. It was acquired by French insurance company AXA Group in 1996.

History

The Company was established in 1995 as a holding company for the Sun Life Assurance Society and the Provincial Insurance Company in both of which Union des Assurances De Paris (UAP) of France had acquired substantial holdings.[1]

Sun Life Assurance Society

The Sun Life Assurance Society was a life insurance offshoot, founded in 1810, of the Sun Fire Office.[2] The Head Office moved to Bristol in 1976.[3] UAP acquired 50% of the Sun Life Assurance Society in 1992.[4]

Provincial Insurance Company

The Provincial Insurance Company was founded by Francis Clayton Scott in Kendal in 1903.[5] UAP acquired The Provincial Insurance Company for £300m in 1994.[4]

AXA increases its shareholding

In 1997 AXA, who had acquired UAP in 1996, transferred its Equity & Law business into the Company thereby increasing its holding in the Company from 60% to 72%.[6] Then in May 2000 AXA acquired all shares it did not already own in the Company.[7]

References

Further reading


This article is issued from Wikipedia - version of the Saturday, October 17, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.