Sun Life & Provincial Holdings
Encyclopedia
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
.
of France
had acquired substantial holdings.
acquired 50% of the Sun Life Assurance Society in 1992.
in 1903. UAP
acquired The Provincial Insurance Company for £300m in 1994.
, 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%. Then in May 2000 AXA acquired all shares it did not already own in the Company.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
insurance company. It was listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and was a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
.
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)AXA
AXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of...
of France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
had acquired substantial holdings.
Sun Life Assurance Society
The Sun Life Assurance Society was a life insurance offshoot, founded in 1810, of the Sun Fire Office. The Head Office moved to Bristol in 1976. UAPAXA
AXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of...
acquired 50% of the Sun Life Assurance Society in 1992.
Provincial Insurance Company
The Provincial Insurance Company was founded by Francis Clayton Scott in KendalKendal
Kendal, anciently known as Kirkby in Kendal or Kirkby Kendal, is a market town and civil parish within the South Lakeland District of Cumbria, England...
in 1903. UAP
AXA
AXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of...
acquired The Provincial Insurance Company for £300m in 1994.
AXA increases its shareholding
In 1997 AXAAXA
AXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The AXA group of companies engage in life, health and other forms of...
, 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%. Then in May 2000 AXA acquired all shares it did not already own in the Company.
Further reading
- Minnitt, Jack The Sun Life Story 1810-1985, Published 1985
- Westall, Oliver Provincial Insurance Company 1903-1938