Pearl Assurance

The roots of the Pearl Assurance date back to 1857 when the Pearl Loan Company started operating from a public house named the Royal Oak, opposite the Whitechapel Bell Foundry.

It was in 1862 that the Pearl Life Assurance and Sick Benefit Society was launched and in 1864 the two companies joined together to become Pearl Life Assurance Loan and Investment Company Ltd.

The company proved popular and within four years had fifty-nine offices in London and a further twenty-eight in provincial towns. Pearl was to then concentrate of weekly life assurance premiums that were known as ‘industrial insurance’. Most policies would cover funeral expenses for a mere one- penny a week although they did have a few for a halfpenny a week premium.

Over the next hundred years Pearl became a major assurance company. It was in March 1990 that the Australian financial giant AMP took over the organisation.

Their head office in High Holborn, London, was a large grand building with a marble hallway (now a restaurant) with marble pillars and beautiful wide staircase, also marble, that went up throughout the seven-storey building.

Back in the 1960’s the staff had free three course lunches waitress served in a large dining room. Salad was always and alternative. Next door to the dining room was the coffee room where staff retired after lunch to sit in leather armchairs sipping coffee. The hours worked were 9am to 4.45pm five days a week. It was in the late 1960’s the Accident Department split some going to Stanmore others to Mark Lane in the City. Those that chose the city location again had free lunches this time in a nearby restaurant. The working hours remained the same.

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