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In 1918, Royal Exchange commenced operations in Nigeria represented by Barclays Bank DCO and in 1921 converted to a full branch of its then parent company, Royal Exchange Assurance, London. Royal Exchange Assurance, London was originally founded in 1720 and was one of the first two insurance companies in Britain to receive legal status via Royal Charter. Originally established for marine business, it expanded within a year to include fire and life assurance, thereby becoming Britain's first composite insurer. The establishment of its branch in Nigeria was the result of an overseas expansion drive in the early 20th century. Pursuant to Section 396(2) of the then Companies Act of 1968, Royal Exchange was in December 1969, reconstituted and incorporated as a Private Limited Liability Company. The company went public on 18 July 1989, and was duly listed on the Nigerian Stock Exchange on 3 De

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