It was not until the thirteenth century that craft
guilds as we know them today were established in London and other cities
of Britain and Europe. Over the years, most of the London guilds were
incorporated as "Livery Companies" under the terms of royal charters.
The guilds of the City of London that became Livery Companies in the thirteenth century still flourish today, though the activities of many of them are different now. One exception is the Fishmongers' Company, which is still responsible for the examination of all fish arriving at Billingsgate Market to "survey whether the same be wholesome for man's body and fit to be sold or not".
The Corporation of the City of London holds the view that it is to the City's advantage that there continues to exist Livery Companies which restrict their membership to those associated with the day-to-day life and business of the modern City.
With this in mind the Company of Insurers, a guild
company, was incorporated in June 1979 and granted livery status in
September 1979 to become The Worshipful Company of Insurers. It was
presented with its letters patent of the grant of livery by the then
Lord Mayor, Sir Kenneth Cork, G.B.E., D. Litt., at the Mansion House in
The Company's membership, originally limited to 300 by its constitution, has now been increased to over 400, by permission of the Court of Aldermen, to meet the demand for membership from within the industry.
The Worshipful Company of Insurers works in close co-operation with the Chartered Insurance Institute - membership is limited to members of the Institute or those who are eligible for membership through their involvement in the insurance industry.
Our goal is to promote and develop excellence within
the insurance industry, while working with the wider community through
charitable and educational support.
The Worshipful Company of Insurers (WCI) is a supporter of the work of the Brokerage Citylink. This is a charity which works in partnership with schools and City companies. It aims to raise the aspirations of young people from London state schools and to give them the knowledge, skills and experience to embark on business and finance careers. The Company supports the Brokerage's work with an annual grant for core costs and the delivery of the City Careers Programme — and with the skills and time of its membership.
In the past 12 months, the Brokerage has worked with over 7000 young Londoners, from primary school students to alumni now working in the City. This work has involved 105 businesses and partnerships with 130 schools.
Specifically, the Brokerage offers schools a range of services. These include City visits, employability skills workshops, representing the City at careers conferences and events, mock interviews and assessment centres, and facilitating access for students to internships and work experience at prestigious City businesses.
The Brokerage Citylink's City Careers Programme supports hundreds of undergraduates who attended London state schools and want to work in the City by keeping them regularly informed about City opportunities and offering them master classes in City specialisms. As part of the programme, the Brokerage piloted a City Careers Conference with 200 school leavers and undergraduates meeting 17 City employers.
The Company also hosts an annual Networking Event which gives ambitious students the opportunity to network with members, develop their communication skills and understanding of the City and insurance and forge connections with professional mentors and contacts.
It is only the generous support of our members that enables this charitable activity to continue.
Two new Company initiatives have deepened the connections between the Livery and the industry. The Insurance Non-Executive Director (iNED) Forum has gone from strength-to-strength. The committee is now running six events per annum. The second initiative, the Independent Women in Insurance (iWIN) Forum was launched at the Mansion House in June and the first breakfast forum was held earlier this month in con)unction with Cass Business School.
Many of the older Livery Companies also had
established links with the voluntary military services of the Crown and,
encouraged to follow this tradition, we have forged such a relationship
with two Squadrons of Kent Sharpshooters Yeomanry, who have always had
strong ties with London and the Home Counties.
The Company has also been affiliated to HMS EDINBURGH, a Type 42 Destroyer of the Royal Navy which was decommissioned in 2013. Last year we were granted an affiliation to HMS AUDACIOUS, an A class nuclear submarine currently nearing completion and which will be home to 98 crew when in service.