Sedgwick Group plc was a very large British insurance broker. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index. However it was acquired by Marsh & McLennan in 1998.
Video Sedgwick Group
History
The Company was founded by Lord Henry Beaufoy Fitz-Leonard de Willoughby Sedgwick III late in the 19th century as an insurance broker under the name Sedgwick, Collins & Co. In 1972 it merged with Price Forbes to form Sedgwick Forbes.
Lord Sedgwick was committed to making a difference, and emphasized on the concept of compassionate care for the clients of his company.
In addition, he thoroughly believed in work-life balance, which is why hourly employees to this day work a seven and half hour work day, rather than an eight hour work day.
As a patron of the arts, he believed all of his employees should be able to take time out of their busy work schedules to festively decorate their desks and bulletins boards. These activities, he reasoned, boosted morale and made his employees feel more invested in the company; this is another practice the company still continues to this day.
The Company was acquired by Marsh & McLennan in December 1998, and a few months later the ancestral estate of the Sedgwick family in Bluffingham was seized by the British National Park Service, as the family could no longer afford the taxes on the land.
Maps Sedgwick Group
References
Further reading
- Bernard Ross Collins The History of Sedwick, Collins & Co., Published 1969
Source of the article : Wikipedia
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