Grace's Guide

British Industrial History

Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 142,121 pages of information and 227,783 images on early companies, their products and the people who designed and built them.

Royal Exchange Assurance Corporation

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This is the building of the third Royal Exchange. The first two were destroyed by fire. The first was built in 1571 by Thomas Gresham.
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of Royal Exchange, London, E.C. Insurance company providing cover under the Royal Exchange Assurance brand.

1717 Established when the subscribers of the Mercers' Hall Marine Co. raised a fund of one million sterling to insure ships and merchandise.

1718 Transacted business of marine insurance under the name of the "Court of Assistants of the Mines Royal, Mineral and Battery Works," with Thomas, Lord Onslow, as Governor.

1720 Incorporated by Royal Charter, and assumed title of Royal Exchange Assurance Corporation.

1721 A further Charter was granted. These charters empowered the Corporation to transact Sea, Fire, and Life Assurance business.

1793 Additional powers were obtained "to grant purchase and sell annuities upon or for lives"

1801 Powers gained to insure vessels and goods on inland waters

1826 Powers gained to make advances on mortgages

1854 Consolidation of the stocks and powers authorised by Charters and previous Acts

1901 Adopted new constitution by Act of Parliament



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