FAI INSURANCES LIMITED

FAI INSURANCE LIMITED
 
SECURITY TYPE: Ordinary Shares
YEAR: 1980
INITIAL PRICE: $0.50
NUMBER OF SHARES: 10
COLOUR: Green
AGE: 86
SIGNATURE: 
CERTIFICATE OWNER: John Bernard Russell FRENCH
PRINTER: Sydney Registry
CONDITION: Fine
 
HISTORY
FAI Insurances Limited was a major Australian general insurer that grew out of the Adler family’s insurance business. Contemporary accounts trace its origins to Larry Adler, who built the company from a small underwriting operation into a substantial listed insurer, and by the late 1980s FAI was one of the country’s larger insurance groups. The company remained prominent through the 1980s and 1990s before being acquired by HIH in 1998, a deal that later became one of the notable elements in the story of the HIH collapse. This 1980 certificate therefore comes from FAI’s independent growth period, before the later takeover and collapse era.