The Provincial Insurance Company, 1903-38

Through an investigation of how one English company discovered opportunities for growth by competing outside the existing tariffs, this book aims to provide a new perspective on the history of competition in the insurance industry and the operation of cartels in British business.

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Founded by a wealthy cotton master, the Provincial Insurance Company was owned and managed by his sons. It grew by diversifying across general insurance markets, achieving its greatest success in motor insurance in the interwar years. This expansion occurred in markets dominated by the tariff organizations through which larger companies controlled competition. This study shows how the Provincial discovered opportunities for growth by competing outside the tariffs, providing a new perspective on the history of competition in insurance and the operation of cartels in British business history generally. An attempt to see company growth within its competitive context, this book blends industrial theory and business history, covering oligopoly and collusion, corporate growth, the family firm, investment markets and the financial services sector.