Towns > Edinburgh > 1805-1834 - Post Office annual directory > 1830-1831

77 Insurance Companies.
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LIFE INSURANCE SOCIETY, FOR INSURANCE
ON LIVES,
AND GRANTING ANNUITIES.
LIFE SOCIETY.
This Society was commenced in 1808, not as a Jcint
Stock Company, but as a Society for Mutual Insurance, and
its prosperity has been so unrivalled that it has accumula-
ted a fund of upwards of a Million. This success has re-
sulted from tile extreme caution of the Managers, and the
high popularity of the principle on which the otlice is found-
ed, its leading feature being that the whole profits are secu-
red to the parties insured ; and, in consequence, those who
effected Policies prior to June 1815, have had 4i per cent
on the premium added to the sums insured, and those whose
Policies Commenced subsequently L.24) per cent Annual
Income above L. 250,000.
The following view of the yearly receipt of premiums at
the periods quoted, indicates the rapid growth of the Esta-
blishment.
At March 23th, 1818, L. 66,226 8 9
1821, 96,630 6 9
1824, 117.463 3 11
June 24th, 1825, 129,948 3 4
.... March .... 1829, 271,903 13 2
The Rates of Premium are considerably below those of
most other Offices, and Insurances may be effected through
the medium of the Society's Agents, established in every
large Town in the United Kingdom.
The insured are permitted to go in steam or other deck-
ed vessels to and from any part of the United Kingdom ;
anil, m time of peace, to and from any part of the Conti-
nent, situate between the Elbe and Brest, without being re-
quired to pay an additional premium, or procure a licence
from the Directors,
FIRE SOCIETY.
This Society was originally established in 1797, and was
the first Ortice to introduce to the public the principle of
returning profits to the parties insured, and it actually did
return the sum of L. 114,072, lis. 7d.
Since the principle of the Office has been modified, it has
declared a return to the parties insured, of L.31, 965, Is. 6d.
The Norwich Union ranks the second Office, in the
amount of its business, in the United Empire.
It is a part of the constitution of the Society, that losses
may be substantiated before local Committees, a system
which greatly facilitates the prompt settlement of claims.
The capital of the Society is L.350,000, and the parties
insured are completely guaranteed Irom all responsibility.
The Fire Society is wholly distinct from the Life.
Chief Office for Scotland.
31, prince's STREET, EDINBURGH.
BOARD OF MANAGEMENT FOR SCOTLAND.
Sir Henry Jardine, K. R. Chairman.
Kincaid Mackenzie, Esq. John Craig, Esq.
John Ferrier, Esq. W.S. Alex. Wood, Esq.
Fras. Wilson, Esq. W.S. Alex. Scot, £sq. W.S.
Robert Hall, Esq. Wm. Dallas, Esq. W.S.
Cashiers — The Royal Bank.
Surgeon — William Newhigging, Esq.
Secretarij — Francis Bridges.
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