AMP
Pearl Company Information
About
The AMP Pearl Company
In
1864, in London's East End, a loan club and a friendly society (both
named Pearl) formed the basis of a new company, the Pearl Life Assurance
Loan & Investment Company Limited.
The
loan club began in 1857 as the Pearl Loan Company, operating out
of a public house (or pub) called the Royal Oak opposite the famous
Whitechapel Bell Foundry. The Pearl Life Assurance & Sick Benefit
Society began in 1862 and was located nearby.
The
new company grew rapidly. After only four years it had 59 locations
in London and 28 in provincial towns.
From
this point on Pearl concentrated on weekly premium life assurance,
known as 'industrial insurance', although tables for annual premiums
were introduced in 1875. Most policies offered funeral expenses
for the tiny sum of one penny a week, although some were available
for only a halfpenny.
Pearl
evolved to become a major force in life insurance and financial
services provision.
Pearl was taken over by AMP in March 1990 and was the largest takeover
of a British financial institution by an overseas organisation.
As
you may know, AMP (the previous owner) has demerged its UK companies
into a new group headed by HHG plc. London Life, NPI and Pearl are
now part of the Life Services division of this new independently
managed UK business.
Pearl:
The Pearl Centre
Lynch Wood
Peterborough
PE2 6FY
In-Retirement
Services:
Freepost
CF4472
Cardiff
CF24 0GZ
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