History
"It will be nothing for me, but it will be a good thing for my sons and it will be a splendid thing for my grandchildren.” Sir James Scott 1903
The Provincial Insurance Company plc was founded by Sir James Scott in 1903.
In 1994, the shareholders undertook a strategic exit from the insurance industry.
SandAire was created as the family office by Alex Scott in 1996 to manage the majority of the proceeds from the disposal and to continue building capital for future generations.
Over the generations, the shareholders had steered Provincial with a remarkable level of consensus about their strategy, combining consistency with innovation. The Directors of Provincial recognised the need for economic and investment advice early on. They appointed leading economist of the time John Maynard Keynes to the Board in 1923 and Keynes remained as a director of Provincial until his death in 1946.
The Scott family created SandAire because there was no service available to them which addressed all their needs and provided truly independent investment expertise. As a multi client family office SandAire now manages the wealth of a number of compatible families, trusts and charities.
SandAire is named after SandAire house in Kendal, Cumbria, the headquarters of Provincial Insurance for many years.
