- Corporate body
The rules of the Trinity Mutual Insurance Club were adopted at a meeting of vessel owners and masters at Trinity on March 17, 1888. R. S. Bremner, merchant of Trinity was elected the first chair of the club. The club was formed to insure vessel owners against marine risk. Membership in the club was open to owners or legal representatives of British registered decked vessels who resided in the south side of Trinity Bay, from Catalina to Seal Cove. Insurance was restricted to vessels employed in the coasting trade, not including sealing or [foreign] trading vessels.
In 1901 the name changed to the Trinity Mutual Marine Insurance Club. In 1907 the rules were amended and the club was incorporated as the Trinity Mutual Marine Insurance Company Limited. The purpose of the club was to insure on the mutual principal against every description of marine risk; to establish different classes of insuring members; to acquire real property for the purpose of the company; to satisfy claims; to carry on the business of the company; to secure funds; to trade shares and securities for the company. For the purpose of registration the company was said to have 300 members.
In 1899 the club insured 224 schooners with a combined tonnage of 8459 tons, valued at 185,122 pounds. The Company reached its peak in 1909 with a high of 368 vessels insured. From that time on, membership began to decline and by 1920 there were only 88 vessels insured. In 1923 the company, having too few members to bear further losses, went into voluntary liquidation.
Source: Trinity Mutual Marine Insurance Company Limited fonds; Rupert Morris family history