Thomas Bignold
Thomas Bignold (1761–1835) was an English businessman. He was the founder of Norwich Union, now known as Aviva plc, one of the United Kingdom's largest insurance businesses.
Career[]
Born in Westerham, Kent, Thomas Bignold worked as an exciseman before moving to Norwich in the early 1780s.[1] He became a wine and spirit merchant in 1785.[2] In 1792 he was appointed secretary of the Norwich General Assurance Company.[1]
He left Norwich General Assurance in 1797 to found the Norwich Union Fire Insurance Society with support from local shopkeepers.[1] He appointed 500 local agents who helped him to expand the geographic coverage of the business; growth was also driven by his practice of offering profit sharing to fire insurance policy holders.[1] He went on to found the Norwich Union Life Insurance Society in 1808.[1]
After 1815 the post-war recession started to bite[3] and claims against the Society increased and he initially resisted many of those claims—some legitimately but some not so.[1] Eventually his sons collaborated with the other directors to force him to retire.[1]
In retirement he became increasing eccentric forming a business to make shoes with revolving heels: this venture pushed him into bankruptcy[4] and he eventually into prison.[1]
He was a churchwarden and freeman grocer. He died in 1835.[1]
Family[]
By 1785 he had married Sarah Long and together they went on to have three sons and three daughters.[1] His youngest son Samuel was his successor and later a Member of Parliament.[5]
References[]
- ^ a b c d e f g h i j Thomas Bignold at Oxford Dictionary of National Biography
- ^ Norwich since 1550 By Carole Rawcliffe, Richard Wilson, Christine Clark, Page 365
- ^ Norwich since 1550 By Carole Rawcliffe, Richard Wilson, Christine Clark, Page 366
- ^ New Reports of Cases Heard in the House of Lords, on Appeals and Writs of Error By Richard Bligh, Page 727
- ^ Dod, Robert P. (1860). The Peerage, Baronetage and Knightage of Great Britain and Ireland. London: Whitaker and Co. p. 118.
- 1761 births
- 1835 deaths
- English businesspeople
- Aviva people
- British businesspeople in insurance
- British business biography stubs
- People from Westerham