When was the insurance company founded, whose near collapse was investigated by George William Penrose, Lord Penrose ?
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George William Penrose, Lord Penrose George William Penrose, Lord Penrose, PC (born 2 June 1938), is a Scottish judge (from 1990) and member of the Privy Council (from 2000) who sat in the Court of Session, the supreme civil court. He is best known for heading the Penrose Inquiry into the near-collapse of the mutual life assurance company Equitable Life. In 2001, Lord Penrose was asked by the Treasury to investigate the history of the company. His 818-page report was published on 8 March 2004.
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The Equitable Life Assurance Society The Equitable Life Assurance Society (Equitable Life), founded in 1762, is a life insurance company in the United Kingdom. The world's oldest mutual insurer, it pioneered age-based premiums based on mortality rate, laying “the framework for scientific insurance practice and development”
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Bidvest Insurance Bidvest Insurance Group, commonly referred to as Bidvest Insurance is a subsidiary of the Bidvest Group based in South Africa that operates under two insurance licences: short term and life insurance. The company was established in 1997. Bidvest Insurance Group together with Bidvest Bank makes up the Bivest Financial Services division of the Bidvest Group.
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Mutual insurance A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.
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Iran Insurance Company Iran Insurance Joint-stock Company (Persian: شرکت سهامی بیمه ایران‎ ‎ ; "Bimeh Iran") is an Iranian government-owned corporation providing a wide range of insurances. Established in 1935, the company is regarded as "Iran's largest insurance corporation" and holds over 50% of the national market share.
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Primerica Primerica, Inc. is a United States-based multi-level marketing company that sells insurance and financial services. As of 2016, it reported 116,827 independent representatives. Primerica is headquartered in Duluth, Georgia and conducts business mainly in the United States, Canada and Puerto Rico.
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Riovic Riovic is a South African multinational on-demand insurance company founded by Phiwa Nkambule. It owns and operates an online platforms that connect consumers with insurance, credit and investment opportunities. Riovic Corporation was incorporated in 2015 and is headquartered in Sandton, South Africa.
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Insurance Institute for Highway Safety The Insurance Institute for Highway Safety (IIHS) is a U.S. nonprofit organization funded by auto insurers, established in 1959 and headquartered in Arlington, Virginia. It works to reduce the number of motor vehicle crashes, and the rate of injuries and amount of property damage in the crashes that still occur. It carries out research and produces ratings for popular passenger vehicles as well as for certain consumer products such as child car booster seats. It also conducts research on road design and traffic regulations, and has been involved in promoting policy decisions.
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Securum Securum was a Swedish state company founded in 1992 during the financial crisis in Sweden 1990–1994 for the purpose of taking on and unwinding bad debt from the partly state-owned Nordbanken bank. It followed a proposal made to the Swedish authorities by McKinsey & Co and based on better practices from the US banking crises of the 1980s (e.g., Savings & Loan, Resolution Trust Company and Mellon Bank). Many of the debts were owed by real-estate companies and it became a goal for Securum to stabilize the property market. The company was established when Anne Wibble was Finance Minister and Per Westerberg was Minister for Business and Industry in the Government of Carl Bildt.
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Emcas EMCAS is a Financial Claims Management Company based in Torquay, United Kingdom, with offices in Exeter, Paignton and Taunton. Established in 2003, EMCAS is one of the largest Claims Management Companies in the UK, currently employing over 350 staff, to help consumers claim back money lost from mis-sold financial products including Savings and Investments, Endowment Mortgages, Pensions and Payment Protection Insurance (PPI). In 2013, they were added to the London Stock Exchange Group's list of '1,000 Companies to Inspire Britain'.
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Rodney Adler Rodney Stephen Adler (born 19 August 1959) is an Australian whose family founded the FAI Insurances group, of which he became Chief Executive in 1989, and which was at one stage Australia's third largest general insurer. Adler became a director of HIH Insurance after the acquisition of that company, and resigned in January 2001, two months before HIH collapsed. He was jailed in 2005 for his conduct related to the collapse of HIH, where Adler obtained A$ 2 million from HIH by false or misleading statements and being dishonest as a director.
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Markel Corporation Markel Corporation (NYSE – MKL) is a holding company for insurance, reinsurance, and investment operations around the world. Headquartered in Richmond, Virginia and founded in 1930, Markel reports its ongoing underwriting operations in three segments, and products originate from four insurance divisions and one reinsurance division. Through Markel Ventures, they allocate capital to invest in opportunities outside of insurance.
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1st Central 1st Central is a car insurance company founded in April 2008 by Ken Acott, Patrick Tilley, Peter Creed and Mike Leonard. It was established to take advantage of the development of price comparison websites (aggregators) as a means of distributing motor insurance policies in the UK.
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Penn National Insurance Penn National Insurance is a property-casualty mutual insurance company, headquartered in Harrisburg, Pennsylvania. Founded in 1919 by the Pennsylvania Farmers and Threshermen's Mutual Protective Association, under the name Pennsylvania Threshermen's and Farmer's Mutual Casualty Company, the company first provided only workers' compensation insurance for farm workers who operated steam-driven threshing machines. The company expanded into all lines of property-casualty insurance, and now does business in ten states (Pennsylvania, Maryland, Delaware, New Jersey, Virginia, North Carolina, South Carolina, Tennessee, Alabama, Wisconsin).
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Tower Insurance TOWER Insurance is a New Zealand-based insurance company which provides fire & general insurance.
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Consolidated Indemnity and Insurance Company Consolidated Indemnity and Insurance Company was a Hartford, Connecticut-based firm which became insolvent during the Great Depression. The corporation is important because it employed executives who were formerly directors of significant business concerns of New York City, in the early 1930s and before. Consolidated Indemnity and Insurance Company was organized in October 1928 with a capital of $2,500,000 and a surplus of $7,300,000. Among its fifteen directors was Saul Singer, vice-president of the New York Bank of the United States and C. Stanley Mitchell, president of the Central Mercantile Trust Company. Its president was John F. Gilchrist, chairman of the Tate Transit Commission. Gilchrist was a close personal and boyhood friend of Alfred E. Smith.
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Savings and Investment Bank Savings & Investment Bank (SIB) was a bank licensed in the Isle of Man. It collapsed in 1982 with liabilities of some £37 million. An approximate statement of affairs prepared for a creditors' meeting disclosed loans and advances over £40 million. In a statement to Tynwald Court the Chairman of the Finance Board said that after meeting the auditors and the directors of the Bank, it was obvious that SIB had made very large loans to a relatively small group of companies, beyond banking guidelines, and these were probably irrecoverable. Liquidation commenced 29 July 1982.
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Japan Post Insurance Japan Post Insurance Co., Ltd. (株式会社かんぽ生命保険 , Kabushiki-gaisha Kampo Seimei Hoken ) , or かんぽ for short, is a Japanese life insurer that was established on October 1, 2007, with the privatization of Japanese Kampo Life Insurance ("Kan'i Hoken", 簡易保険). As of 2011 it was the world's fourth largest insurance company as regards net premiums written behind three European insurers and the largest as regards non-banking assets.
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Aviva Aviva plc is a British multinational insurance company headquartered in London, United Kingdom. It has about 33 million customers across 16 countries. In the UK, Aviva is the largest general insurer and a leading life and pensions provider. In addition, Aviva has a focus on five markets in Europe and in Asia, the company is focused on the growth markets of China and South East Asia. Aviva is also the second largest general insurer in Canada.
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Insurance and Pensions Authority The Insurance and Pensions Authority (Manx: "Lught-reill Urryssaght as Penshynyn" ) or IPA was the statutory body responsible for the regulation and supervision of pensions and insurance businesses operated in or from the Isle of Man. In 2015, the IPA merged with the Financial Supervision Commission (FSC) to form the Financial Services Authority (IOMFSA).
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CBHS Health Fund CBHS Health Fund is an Australian private health insurance company founded on January 1, 1951 by the Commonwealth Bank of Australia (CBA) to provide insurance to its employees. Membership was expanded in August 1996 to include former employees.
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Prudential plc Prudential plc is a British multinational life insurance and financial services company headquartered in London, United Kingdom. It was founded in London in May 1848 as "The Prudential Mutual Assurance Investment and Loan Association" to provide loans to professional and working people.