CGU Bonus Ltd
CGU Bonus was incorporated on December 31 1912 as the United Scottish Herring Drifters Insurance Company Ltd. In 1943, the company became part of the New Zealand Insurance Company Ltd (NZI) and, by 1959, was a wholly owned subsidiary.
Company History
United Scottish Policy Header 1940s
The company was established to take over the business of the Herring Drifter Insurance Company, which had been set up in 1903. On December 17 1928, it was renamed the United Scottish Marine Insurance Company Ltd and, on March 4 1943, became known as the United Scottish Insurance Company Ltd.
The company underwrote a variety of risks. By 1954, it was conducting fire, accident and marine business and, in 1956, NZI began underwriting an aviation account in the company's name. On December 15 1973, the company changed its name to the New Zealand Insurance Company (UK) Ltd and, in 1974, business was extended to include life assurance. The company stopped transacting life business in the UK at the end of 1982.
On March 4 1982, the company was renamed New Zealand South British Insurance plc and, from April 1 1982, the company assumed responsibility for all NZI operations in the UK, as well as the UK general insurance business of the South British Insurance Company Ltd. On August 17 1984, its name changed once more to New Zealand Insurance plc.
By 1989, the company's objective was "to provide customers with cost-effective service to meet the insurance needs of their commercial clients" and its principal activity was the transaction of general insurance business. NZI was acquired by the General Accident Fire and Life Assurance Corporation plc in the same year and, in January 1990, its marine fund was transferred to General Accident. The following year, the company began specialising in the provision of on-line facilities to a limited number of professional intermediaries.
On January 1 1992, the company was renamed GA Bonus plc. Two years later, it was an acknowledged market leader in on-line facilities for commercial lines business and had introduced a new computer system called BONUS 2000. The company became a limited company on September 17 1999 and was finally renamed CGU Bonus on October 1 1999.
Key dates
| Year | Event |
|---|---|
| 1912 | The company is established |
| 1943 | The company becomes part of the New Zealand Insurance Company |
| 1943 | Name changes to the United Scottish Insurance Company Ltd |
| 1973 | Name changes to the New Zealand Insurance Company (UK) |
| 1982 | Name changes to New Zealand South British Insurance |
| 1984 | Name changes to New Zealand Insurance |
| 1989 | NZI is acquired by the General Accident Fire and Life Assurance Corporation |
| 1991 | The company begins specialising in the provision of on-line facilities |
| 1992 | Name changes to GA Bonus |
| 1999 | GA Bonus becomes a limited company |
| 1999 | Name changes to CGU Bonus |
Subsidiaries and constituents*
| Year | Company name |
|---|---|
| 1903 - 1912 | Herring Drifter Insurance Company |
| - pre 1954 | Fishing Vessels' Salvage Association Ltd |
| - pre 1954 | United Kingdom Steam Tug and Trawler Insurance and Indemnity Association |
* Please note the first date given is the date of the establishment of the company and the second date is the date the company was acquired or became a subsidiary. Where only one date is given the company was established as a subsidiary of the parent company. Where one date is preceded by a hyphen the date of the establishment of the company is not known.
Head office premises
London
| Year | Address |
|---|---|
| by 1951 - 1960 | 20, Billiter Street |
| 1980 - 1986 | New Zealand Insurance House, 118-119 Fenchurch Street |
| 1986 - 1989 | 117 Fenchurch Street |
| 1989 - | Northfield house, 110-14 Baxter Avenue, Southend-on-Sea |
Aberdeen
| Year | Address |
|---|---|
| by 1931 - 1938 at least | 208 Market Street |
| by 1954 - 1960 | Amicable House, 252 Union Street |
| 1960 - | 174 Market Street |
Registered Office
| Year | Address |
|---|---|
| by 1973 - 1984 | 18 Bon-Accord Square, Aberdeen |
| 1984 - 1989 | Braemar House, 267 Union Street, Aberdeen |
| 1989 - 1998 at least | Pitheavlis, Perth |
Staff and officials
General Manager
| Year | Name |
|---|---|
| by 1955 - 1958 | L H Sugden (also secretary) |
| 1958 - 1960 | G M Glencross (as acting general manager) |
| 1960 - 1985 | Position vacant |
| 1985 - 1989 at least | Peter James Rackley |
| by 1993 - | T R Lewis |
Secretary
| Year | Name |
|---|---|
| by 1955 - 1958 | L H Sugden (also general manager) |
| 1958 - 1961 | William Albert Hall (initially as acting secretary) |
| 1961 - 1983 | Alan Benjamin Bracken |
| 1983 - 1986 | J Carrier |
| 1986 - 1989 | Dianne Elsie Short |
| 1989 - 1995 | R A Whitaker |
| 1995 - c2000 | P M White |
Directors (1954)
- W Smith (Chairman)
- W S Duthie
- E L Garrett
- A M Meikle
- R G Weston
- C D Warner
Home branches and agencies
- Aberdeen (by 1951)
- Manchester (by 1951)
- Leeds (by 1955)
- Newcastle (by 1955)
- Manchester (by 1955)
- Birmingham (by 1955)
- Redhill (by 1957)
- Bristol (1957)
- Glasgow (by 1958)
- Leicester (by 1958)
- Guildford (by 1958)
- Jersey (1974)
- Andover (by 1990)
- Croyden (by 1990)
- Southend (by 1990)
Overseas branches and agencies
- Calcutta, India (by 1954)
- Mombassa, Kenya (by 1954)
- Toronto, Canada (by 1955)
- Iraq (by 1955)
- Ecuador (until 1958)
- Myanmar (Burma) (until 1958)
- Netherlands (by 1958)
- Singapore (by 1964)
- Belgium (by 1974)
- Norway (by 1974)
- Alaska, United States (1978)
- Hong Kong (by 1983)
- Italy (1986)
- Japan (1986)
In the archives
The Aviva archive contains records relating to the running of CGU Bonus between 1954 and 1999. The collection includes annual reports and accounts, board minutes and combined registers.
