Throwback Thursday: Marsh takeover; Autoglass deal
Insurance Post’s Throwback Thursday steps back in time to April 1980 to remind you what was going on this week in insurance history when Marsh was preparing to buy Bowring and Autoglass struck an important deal
17 April 1980: Marsh bid prepared
Marsh & McLennan sent out documents to UK stockholders about plans to takeover CT Bowring Group.
Post reported: “Doubtless there will be the usual battles between the parties to sway shareholders one way or another before the final decision on the potential US invasion of the Lloyd’s broking market is known.”
The deal went ahead seeing the business created by Benjamin Bowring, an English watchmaker, jeweller, and businessman who founded the Bowring trading, shipping and insurance businesses in 1811, absorbed into Marsh.
New windscreen service
The “windscreen subsidiary” of the Royal Doulton Group, Autoglass, signed a deal with Bradford & Pennine Insurance to provide a windscreen replacement service for the latter’s comprehensive motor insurance customers.
Under the new scheme, the motorist would no longer have to pay for a new windscreen and then reclaim the cost from the insurer.
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