Guardian Royal Exchange Assurance

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

  1. ↑ Guardian Financial Services: About us
  2. ↑ Guardian Royal to buy health insurer New York Times, 18 December 1997
  3. ↑ Axa of France to buy Guardian of Britain New York Times, 2 February 1999
  4. ↑ Britain's Guardian Royal Exchange to Move Out of Landmark London Building Tribune Business News, 15 March 1999
  5. ↑ Aegon plans further deals after GRE buy The Independent, 13 August 1999


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