Oldham Fire Insurance Company Ltd
The Oldham Fire Insurance Company Ltd was established in 1862. In 1921, the company was acquired by the Yorkshire Insurance Company Ltd, which became part of the General Accident Fire and Life Assurance Corporation Ltd in 1967. The company was dissolved on September 21 1943.
Oldham Fire cheque, 1918
The company was established primarily to insure cotton waste dealers against fire. It was registered without a deed of settlement or articles of association and retained, at its own risk, a limit of £1,000 on any one risk. In 60 years of transacting insurance, however, only once was the company in danger of recording a year-end loss.
The acquisition by the Yorkshire was arranged primarily through Edward Walker Milburn of the Yorkshire's Manchester branch. Business was tight in Oldham at the time and Milburn believed the acquisition to be
"an excellent means of securing a hold on the general business in that great manufacturing town".
The Yorkshire was not really interested in the cotton waste business, which was high risk and mostly tariff, but the company was keen to benefit from the influence and contacts of the Oldham board and secretary. Not everyone agreed with this strategy. The Yorkshire assistant secretary at the time, E A Birks, was against the acquisition as he felt the Oldham was too small and raised doubts about whether the company should cultivate investment with the "spinning people". Despite Birks' concerns, the purchase was completed in 1921.
|1862||The company is established|
|1921||The company is acquired by the Yorkshire Insurance Company|
|1943||The company is finally absorbed|
|1967||The Yorkshire becomes part of the General Accident Fire and Life Assurance Corporation|
Head office premises
|by 1890 - 1921||4, Clegg Street Oldham|
Staff and officials
|by 1890 -||J Clegg|
|by 1918 - 1921||Lawrence Slater|
Oldham Fire policy header, nd
- James Herbert Dunkerley
- George Wareing
- John Taylor
In the archives
The Aviva archive contains records relating to the running of the Oldham Fire Insurance Company between 1919 and 1922. The collection includes acquisition papers, balance papers, headed notepaper and specimen policies.