Catalogue description Records relating to Bon Accord Life and Fire Assurance, Guarantee, Reversionary and Annuity Company

Bon Accord Life and Fire Assurance, Guarantee, Reversionary and Annuity Company

The Bon Accord Life and Fire Assurance Guarantee Reversionary and Annuity Company was established in 1845 and absorbed by Northern Assurance Company in 1849 which became a subsidiary of Commercial Union Assurance Company Ltd. in 1968.

Business
Established in Aberdeen in January 1845 the company was initially proposed as the 'Aberdeenshire Life Assurance, Guarantee, Reversionary and Annuity Association' but to prevent the business of the company from coming into collision with the Aberdeen Fire and Life Assurance Company the business was named the 'Bon-Accord Life and Fire Assurance, Guarantee, Reversionary, and Annuity Company'. The Directors resolved to "conduct the business of Life Assurance upon liberal and equitable principles, to grant Immediate, Deferred and Survivorship Annuities, and Endowments for Children; to purchase Reversionary and Life-rent Interests and to advance money on Annuity, Mortgage and other Securities; to guarantee the fidelity of proper parties in situation of trust; to effect Insurances against Fire."

In 1849 the company approached the Northern to suggest an amalgamation because "the necessary Expenses of Management have pressed with great severity upon what has been a limited Business"

Head office premises - Aberdeen
84 King Street (1845 - 1845)
18 King Street (1845 - 1849)

Staff
Directors (1845)
Alexander Thomson (Chairman)
William Duthie
George Elmsly
James Forbes
John Leslie
George Thompson
John Yeats

Secretary
Messrs Yeats and Flockhart.(1845 - 1845) interim
Alexander Christie (1845 - c1848) (also manager)
A Masson (by 1849)

Manager
Alexander Christie (1845 - 1849)

Medical Referee (1845)
Dr James Will

Accountant and Bookkeeper (1845)
Andrew Masson

Clerk (1845)
Malcolm McKenzie

Home agencies
London (by 1846) (under Messrs Thomas and Edward S Clarke)
Edinburgh (by 1846) (under Robert Irvine)
Glasgow (by 1846) (under George Brown)
Peterhead (by 1846) (under William Lawrence and Company)
Dundee (by 1846)
Inverness (by 1846) (under Messrs J & W Chisholm)

Interesting Stories
When Alexander Christie was appointed as manager and secretary he was recommended by his father, Robert Christie of Edinburgh. At that date he was only 23 and working as a clerk in the head office of the Provincial Bank of Ireland in London.

'Bon Accord' is the motto of the city of Aberdeen, and dates from the Wars of Scottish Independence when it was said to have been used by Robert the Bruce as a password when he and his men laid siege to Aberdeen Castle before destroying it in 1308.