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Provident Mutual Life Assurance
Defunct insurance company in Britain From Wikipedia, the free encyclopedia
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Provident Mutual Life Assurance was a London-based life insurance and pensions company.
History
The company was established as the Provident Clerks' Mutual Benefit Association in 1840.[1] It created the first UK-based policy against death-in-service in 1852, and introduced a system of regular payroll deductions to allow all employees to participate.[2]
It established new offices at 25–31 Moorgate in London in 1923.[3] The company relocated to Alresford Place near Winchester, to reduce the risk to its staff from air raids by the Luftwaffe, in June 1939, during the Second World War.[4]
It had some 500,000 policy holders in 1995, when it was acquired by General Accident in a deal worth £170 million.[5]
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References
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