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The Albert Failure, From Anglo-American Life Insurance, 1800-1914

The Albert Failure, From Anglo-American Life Insurance, 1800-1914

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'The Albert Failure', From Anglo-American Life Insurance, 1800-1914, published by Pickering & Chatto
'The Albert Failure', From Anglo-American Life Insurance, 1800-1914, published by Pickering & Chatto

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Published by: Pickering and Chatto on May 31, 2013
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– 255 –
THE ALBERT FAILURE
‘T Fur  h Ar Inurnc Cpny’,
 Economist 
, 28 Augu 1869, pp.1013–14.An Inurr’ Grvnc’,
 London imes
, 25 Augu 1869, p. 10.
Bwn h Indpndn W Mddx cnd n 1840 nd h crh  hAr n 1869, dzn  Engh  nurnc  c d – u nry   h hd ny n n xnc  w yr nd hd gnrd n un.Tr ur, urhrr, w n nry  dgng  hr cur  h pr c   nk ur, nc nd  ng pny hr  vng, h cur  w  yr r w n pru, nd n  c hy cud uy  nw pcy r  dfrn cncrn  ny  ghy hghr prc.Snc h   d ‘uhr’ nurnc cpn wr  n-, hr hrhdr kw ufrd rvy  pn.T Ar’ ur nd h  h Eurpn, whch wd u n 1872, wr dfrn r ghr. Bh wr rvy d cpn h grw wn 1850 nd 1870 y rcky rng h un  r h wrn h vrg  nvncy. Ty urhrr hrw gd ny r d y  pyng xrn  r h nw un (£274,152, n h c  h Ar),nd d hr  y pyng hr ngr xcv r. Lg  nh wk  h ur  up nhr £360,000,  hrhdr r h vr-u rd r ud  g u  cvrng h . Ahugh hr rrcny nurd cur cud wch cpn, h h Ar nd Eur- pn hd ny pcyhdr n hr k wh hd n wh h (r nrd cpny) r dcd, nd cud n wch   nw cpny wh-u  jr crc. T pp hd  ccp cd-ck n, whch,dpndng n hw dp hr rgn cpny’ hrhdr’ pck wr,rngd r v hng n h pund  wny, hugh vn n h chy rd ny nu h gh hv ccrud.
1
Svr r Brh  nurnc  c d r 1870,  ny hGr Brn Muu n 1880 nd h Brn, Mdc nd Gnr n 1886.
 
256
 Anglo-American Life Insurance, 1800–1914: Volume 2
Bh hd purud un d n h 1860 h wr r  h Arnd Eurpn, nd h pd hrugh h 1870 r ny hung hrdr. T jr dfrnc r h rr ur y n h   hr p-cyhdr. T L Aurnc Cpn Ac  1870 (dcud whr nh vu) ncudd prvn h d  r r vn   c k vr cur’ pc, whch gnry rnd n rgr n hn wud hv rud r qudn.
2
T Ac  rndrd  uch  ky h nwy rd nurnc cpn wud rp h  undr, whh ru h h Brn’ d wud  h  jr  nurnc urn Brn r nry  cnury.N
1. Arn,
 Regulated Lives
, pp. 61–3.2. Id., pp. 67–9.
 
– 257 –
‘The Failure of the Albert Insurance Company’,
 Economist 
(1869)
Some nh nc hr w  gd d  dcun   Inurnc C- pn,  whch h r cu w n d  h wh rd . I cud n  wrn, hugh  w w knwn h   n rg Inurnc O c, h“Ar,” w nvn; h  cud n ng cnnu  py c; h un w d  rdy pd c wh dcuy. T w h r rn why h cnvrn wh h ujc cd , hugh  wud hv n   y why hy dd . Bu nw h cy h c. T r   h “Ar” c  knwn,  n ccury,   u cny nd pprxy. wcur  nnc
1
hv d  rugh , pndng  r rnvgn, h ru  whch  h:–
Liabilities.£Prn vu   n pc (r gvng crd r h vu  pru)
. . . . . . . . . . . . . . . . . . . . . . .
 £1,147,487Prn vu   n nnu
. . . . . . . . . . . . . .
150,445C dd nd gnr d
. . . . . . . . . . . . . . . .
110,0001,407,932Assets.Fund n hnd
. . . . . . . . . . . . . . . . . . . . . . . . . . .
271,500Uncd cp d  yd
. . . . . . . . . . . . . . . .
150,000421,500Dcncy 
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
986,432
T dcncy  nry  n, nd  gh  d y wr, r wh whv cd “und n hnd” r n  ry ; hy ncud n n pc,rurnc, nd uch hng. S nhng nd  ddd  h r nh  dc  r hn  n x n h c; nd h vn   wnn, g n   pru, nd pd vrydy, h pcy hdr, h whhd pd ny   r yr nd nvd hr vng n  r yr, wud h gr u.Bu hng 
must 
 ddd. T r ruh  wr hn h. I h  cp
now
,    n   wnd  up grduy,  h wh hv c w wn   pd  hr , nd h wh hv pru  py wn 

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