Phoenix Assurance Company Limited

Phoenix Assurance Company Limited

The history of the Phoenix Assurance Company can be traced to 20th November 1781. That evening 12 sugar importers met at a coffee house in Fenchurch Street, London. The highly inflamable nature of sugar made fire a very hazardous risk, but yet they felt that the insurance rate of 18 shillings per £100 was too high. The result was that the men met again two days later and decided to form a fire insurance company.

The first General Meeting was held in the coffee house on 17th January 1782 and the headquarters were established at Lombard Street. The name Phoenix was adopted in 1813. After the First World War the headquarters of the company were moved to Phoenix House, King William Street.

In 1984 Phoenix Assurance was acquired by Sun Alliance.

In 1996 Royal Insurance and Sun Alliance merged to become Royal & Sun Alliance. The new company was acquired by Resolution Life Group Ltd. in 2004. In 2008 Pearl Group Ltd. acquired Resolution Life for £5 billion. In 2010 Pearl Group changed its name to Phoenix Group Holdings which is currently the largest UK consolidator of closed life assurance funds.