Business History Explorer Supported by the Business Archives Council

Provincial Insurance Co, 1903-38. Family, markets and competitive growth

Details:

  • Author(s) Westall, Oliver M
  • Publication type Monograph
  • Year published 1992
  • Pages 465pp; illus
  • Publisher Manchester University Press
  • Place Published Manchester

Topics:

  • Name Family & personal capitalism
  • Name Geopolitical event, natural disaster, etc, impact on business inc end of empire, war, disease, catastrophe, etc, exc industrial conflict

Countries:

Library:

Groups:

Notes:

Winner of the Wadsworth Prize for Business History, 1992. Scholarly history commissioned by the business. Structured in three parts, viz: 1] 'An apprenticeship to insurance': 'Origins of the Provincial' - Scott family/ idea of insurance/ formation of company, 'General insurance before 1914' - fire insurance at end of 19th century/ transformation of general insurance business, 'Development of strategy' - family ownership and control/ possibilities for growth/ safety first, 'A foothold in the market' - the Scott connection/ the brokers and the hazardous market/ entry into accident insurance/ foundation of a branch organisation/ opening a foreign account, 'profitability of the business' - underwriting/ organisation and control/ deployment of funds/ casting a balance; 2] 'War': 'Uncertainty of war and interruption to development' - new problems for a new management/ First World War and general insurance/ effect of war on Provincial's resources, 'Business in wartime' - home fire market/ accident insurance/ home foreign market/ foreign branch business/ marine underwriting, 'Profitability in wartime'. 3] 'Competitive expansion': 'Family concerns and wider horizons' - the move to Kendal/ capital ownership/ control, 'The general insurance market between the wars' - competition in fire insurance 1920-38/ general accident business/ British motor insurance market 1920-38, 'The Provincial's home business between the wars' - transformation of home fire account 1920-38/ general accident account/ competitive contracts/ motor insurance key to growth, 'Development of the Provincial's organisation - the expence ratio/ a national business/ management and control of the organisation/ staff/ the Drapers' & General, 'Provincial account' - possibilities and problems of foreign business/ development of the business/ general foreign account/ Lloys de France/ South Africa/ Canada/ profitability of the business, 'The Provincial at sea'; 'Investment. Riding the tiger' - problems of management/ growth in assets/ Keynes, Falk and portfolio management in 1920s/ Keynes and portfolio management in 1930s/ investment performance. 'Conclusion'