A contract of copartnery was issued on 19 October 1809 allowing a capital of £1 million and the new company commenced business on 11 November.
The company, successfully trading and growing, was granted a royal charter on 6 February 1824, in the expectation that the permitted capital would be exceeded.
In the 1860s, the company had opened businesses and agencies across the world, including the far east and Africa.
[1] North British & Mercantile extended its business to include all marine risks in 1901.
The company's scope continued to grow and, by 1911, it was transacting fire, life, marine, accident, fine art, burglary and motor insurance.