Guarantee and Suretyship Insurance Company Ltd
Following in the footsteps of the Guarantee Society, The National Guarantee and Suretyship Association Ltd was established in 1863 to insure organisations against misappropriation of funds or other losses due to the actions of their staff.
Company History
National Guarantee and Suretyship Association proposal
National Guarantee and Suretyship Association bond application, 1933
The company was incorporated on April 30 1863 as The National Guarantee and Suretyship Association Ltd. According to an advertisement in 1873, the
"association provides security for the intromissions and fidelity of persons in situations of trust and responsibility, and undertakes all descriptions of guarantee business".
In 1914, the company became a subsidiary of the Northern Assurance Company Ltd (which became a subsidiary of the Commercial Union Assurance Company Ltd in 1968). By 1927, the company was styling itself as
"the only British Company transacting Suretyship business alone including Indemnities for Lost Documents, Defective Titles, Missing Beneficiaries and other Contingencies".
In 1968, the company was still specialising in suretyship insurance, which was wholly reinsured with the holding company. Indeed, it wasn't until 1983 that the company was authorised to write fire, accident and marine insurance.
On March 11 2002, National Guarantee and Suretyship changed its name to Aviva Insurance Ltd, before changing it again on 27 November of the same year to Guarantee and Suretyship Insurance Company Ltd. On December 31 2002, the company was deregulated as part of progress towards liquidation. The company was dissolved on March 3 2005.
Key dates
| Year | Event |
|---|---|
| 1863 | The company is established |
| 1914 | The company becomes a subsidiary of the Northern Assurance Company |
| 1968 | The Northern is acquired by the Commercial Union Assurance Company |
| 2002 | Name changes to Aviva Insurance Ltd |
| 2002 | Name changes to Guarantee and Suretyship Insurance Company Ltd |
| 2005 | The company is dissolved |
Head office premises
Edinburgh
| Year | Address |
|---|---|
| by 1870 - 1873 at least | 28 Queen Street |
| by 1879 - 1924 | 67 George Street |
| 1924 - 1968 | 17 Charlotte Square |
| Edinburgh head office no longer listed after this date | |
London
| Year | Address |
|---|---|
| by 1914 - 1926 | Finsbury Pavement House, Finsbury Pavement |
| 1926 - 1927 | 5 Moorgate |
| 1928 - 1959 | Granville House, Arundel Street, Strand |
| 1959 - 1961 | Northern House, 29 Gresham Street |
| 1961 - 1968 | Hamilton House, Victoria Embankment |
| 1968 - 1969 | 24 Cornhill |
| 1969 - | St. Helen's, 1 Undershaft |
Staff and officials
Manager and secretary
| Year | Name |
|---|---|
| by 1870 - 1872 | James Wilkie |
| 1872 - 1890 at least | George Todd Chiene |
| 1899 - 1919 | James Murray |
| 1919 - 1943 | Henry Edward Smith |
| 1943 - 1957 | Alexander Gailie |
| 1957 - 1965 | Alan G Smith |
| 1965 - 1969 | Philip Reilly (manger only from 1968) |
Secretary
| Year | Name |
|---|---|
| 1968 | D A Mills ACII |
| 1968 - 1971 | H T Frost |
| 1971 - 1977 | D R Cobden |
| 1977 - 1988 at least | G T Spratt |
Directors (1873)
- William Smith
- George Clerk Arbuthnot
- John Cook
- Charles Cowan
- Kenneth Mackenzie
- James Mylne
- R E Scott
Home branches and agencies
- Belfast (by 1920)
- Bristol (by 1920)
- Glasgow (by 1920)
- Leeds (by 1920)
- Liverpool (by 1920)
- London (by 1920)
- Manchester (by 1920)
- Birmingham (by 1926)
Overseas branches and agencies
- Alexandria, Egypt (by 1920)
- Barbados (by 1920)
- Bombay, India (by 1920)
- Karachi, Pakistan (by 1920)
- Calcutta, India (by 1920)
- Ceylon, Sri Lanka (by 1920)
- Dublin, Ireland (by 1920)
- Madras, India (by 1920)
- Rangoon, Myanmar (Burma) (by 1920)
- Cairo, Egypt (by 1926)
- British Honduras (by 1926)
- Singapore (by 1926)
In the archive
The Aviva archive contains records relating to the running of the National Guarantee and Suretyship Association Ltd between 1920 and 1987. The collection includes board minutes, policy literature, board of trade returns, journal and register of deeds.
