In order to fully appreciate the shape of the current insurance market, it is important to recognise that the City of Glasgow has a long history with the industry stretching back over 200 years.

The Union of the Parliaments in 1707 had opened up to Scotland the lucrative trade with the colonies in America and the West Indies, and the merchants of Glasgow were not slow to seize their opportunities. The ensuing trade activities led to importing among other things, tobacco, sugar, rum, mahogany and raw cotton, and exporting linen, gloves, shoes and hats that had a ready market in the developing colonies. The tobacco trade laid the foundation of the City’s prosperity, but when it ceased abruptly with the American War of Independence it was replaced by cotton and the growth of Glasgow continued. It was around this time the development of the iron works and coalfields of Lanarkshire ensured the future of Glasgow as a great industrial city. Shipbuilding, engineering, and manufacturing industry in the City and its environs went from strength to strength on the natural resources of the area and the inventive genius of the people.

It is not surprising therefore, to find that the insurance market in the UK was taking a great interest in this combination of people, wealth and industry. By the mid 1880’s it is recorded that more than 80 insurance companies had representation in the form of branch offices, while 4 life assurance companies had established UK head offices in Glasgow. 

ARCHIVE DISPLAY

As a visible record of the Society's long and distinguished history, an Archive Display has been set up at the Mitchell Library - full details are shown in the IASHG website 'News' page:Click here to access

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