Guardian Royal Exchange Assurance
 | |
| Public | |
| Industry | Insurance |
| Fate | Acquired |
| Successor | AXA |
| Founded | 1968 |
| Defunct | 1999 |
| Headquarters | London, UK |
Key people | Lord Hambro, (Chairman) |
Guardian Royal Exchange Assurance plc was a large British insurance company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index.
History
The Company was established through the merger of the Guardian Assurance Company and Royal Exchange Assurance in 1968.[1]
In February 1998 it acquired PPP Healthcare, a private healthcare insurer, for £435m.[2]
In February 1999 it was acquired by AXA of France for $5.7bn and integrated into its Sun Life & Provincial Holdings Division.[3] It was subsequently announced that the Company would move out of the Royal Exchange Building.[4] The life assurance business was acquired by Aegon later that year.[5]
References
- ↑ Guardian Financial Services: About us
- ↑ Guardian Royal to buy health insurer New York Times, 18 December 1997
- ↑ Axa of France to buy Guardian of Britain New York Times, 2 February 1999
- ↑ Britain's Guardian Royal Exchange to Move Out of Landmark London Building Tribune Business News, 15 March 1999
- ↑ Aegon plans further deals after GRE buy The Independent, 13 August 1999