Scottish Widows
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| About Scottish Widows
March 1812, a number of eminent Scotsmen gathered in the Royal
Exchange Coffee Rooms in Edinburgh, to consider the prospectus
setting up 'a general fund for securing provisions to widows,
sisters and other females'. These were the relatives of deceased
clergymen, schoolmasters and the like, and the fund was designed
as a safety net should these widows, sisters and other females be
left poverty-stricken, as was all too common in the 19th century.
The original prospectus promoted a plan for
establishing a general fund for the purpose of insuring capital
sums on lives. But even the first statement of principles upon
which Scottish Widows would be built, indicated that this would be
an organisation with broader horizons than other, similar
institutions of the time. It proposed 'the formation of a General
Society, with similar but enlarged views, the benefit of which may
be extended to all parts of the United Kingdom.'
The Scottish Widows Fund and Equitable
Assurance Society - Scotland's first mutual life office - opened
for business in 1815. It was located at the home of its first
manager, William Wotherspoon, close to the west end of what is now
Chambers Street in Edinburgh.
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