The Sun.
London, England, 1861-10-23 00:00:00

pool.
Mr. Alderman Hale (Messrs. Warren S. Hale and Sons),
London.
Charles Joyce, Esq. (Messrs. Charles Joyce and Co.). London.
George Kendall. Esq. (Messrs. Kendall Brothers), Liverpool.
John Edward Naylor, Esq., merchant, Liverpool.
P. W. Russell, Esq.' M.P., Cannon-street, Chairman of the
National Discount Company, London.
Lightly Simpson, Esq., Chairman of the East Anglian Rail-
way Company, London.
Thomas Stenhou-e, Esq., merchant, Liverpool.
(With power to add to their number.)
SToefinnoßEn s.
George Bernand, Esq., 69, Lombard-street, London.
Messrs. Froom Brothers, Change-alley, London.
Messrs. Thomas Tinley and Sons, Liverpool.
Somert ons.
11Iessrs. Paine and Layton, London.
Messrs. Fletcher and Hull, Liverpool.
BANKERS.
The Bank of London.
The Union Bank, Liverpool.
TEMPORARY OFFICES.
:9, Lombard-street, London.
21, Water-street, Liverpool.
PROS PECTL'S.
The London and Lancashire Insurance Company is estab-
lished for the purpose of extending to Liverpool, as well as to
London and elsewhere, that addition to the facilities for fire in-
surances which was recently demanded for the metropolis,and
which the extraordinary increase in the commerce of Liver-
pool constitutes an urgent necessity. In so doing the Direc-
tors propose to take advantage of the experience of existing
institutions, to introduce new principles of practical utility,
and, in addition, so to construct the institution as to afford
the greatest possible benefits to the shareholders, insurers,
and to the public generally, consistent with the well-being of
all concerned. The Directors do not profess to transact
business at lower rates than those ascertained by experience
to be remunerative ; but having thus provided for the security
and profitableness of the business transactions of the office,
they extend the mutual principle to fire insurance, and make
the holders of fire policies participators in the profits, atter
appropriating a sufficient sum for a reserve fund. When we
consider the certainty and extent of success that has attended
every well-managed fire office, it would appear that the pre—
sent is a period when new institutions, based on the experi-
ence of time and observation, should be promoted for and
supported by the public generally, for the purpose of pre-
venting monopoly on the one hand, and for the development
and progressii•n of principle on the other.
In 1841 the total sum in Great Britain insured against fire
vas seven hundred and thirty-eight millions sterling; in
38'51 it had increased to eight hundred and fifty-eight millions
eight hundred thousand ; and in 1661 it is estimated to have
advanced to twelve hundred millions, or to one-third more
than the amount of the National Debt.
In the course of 20 years, therefore, the field occupied by
Fire Insurance widened at the rate of £23,000,000 per annum.
As an illustration of this increase it may be mentioned
that, in London alone, the inhabited houses which in 1851
ntimberect 305,933, had in 1861 increased to 362,890, showing
an addition in ten years of no less than 56,957 houses, or an
average increase of 5,895 houses per annum.
But, although the value of property protected is of vast
amount, the value remainingunprotected far exceeds it ; and
the difference between insured and uninsured is constantly
augmenting.
The enormous business of Fire Insurance in the United
Kingdom is confined to so few as fifty-two offices, of which
two are in Ireland, six in Scotland, twenty-one in English
country towns, and twenty-three in London.
The relative smallness of this number and the vast amount
of insurance committed to each, on the average not less in
value than £22,000,000, has led in some cases to excessive or
Capricious charges, want of confidence, and to a general les-
sening* of the practice of insurance.
Considerations of this description, in connection with the
promised support of a very large number of the most influen-
tial merchants in London and Liverpool, have led to the for-
mation of the " London and Lancashire Fire Insurance
Company."