![]() ![]() In 1810, the directors decided to expand into life assurance but the original deeds only allowed for the acceptance of fire insurance. The early 1800s saw a slowdown in the rate of growth due to rising loss rates. By the 1790s Sun Fire was dominant among the fire offices with premium income of over £100,000. By 1740 there were 51 agents and, in 1786, 123 ranging throughout England and Scotland. The first county agent was appointed in Nottingham in 1721. For the first decade the level of business was small and erratic until, in 1720, a takeover bid brought in a new board of directors they raised fresh capital in order to finance an increased level of business. He had established a fire insurance company, the Exchange House Fire Office, in 1708 but after a takeover in 1710, he immediately fell out with his fellow directors and was forced to handover control. Povey had been a pamphleteer and unsuccessful businessman. ![]() The Sun Fire Office was formed in 1710 when a group of 25 businessmen acquired an insurance company formed by one of them, Charles Povey, in 1708. In 1959, Sun Insurance merged with Alliance Assurance to form Sun Alliance. The Sun Fire Office, later Sun Insurance, was founded in London in 1710 and developed into a leading international insurance business. ![]()
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