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Improvident x3
Spectator, The, Jun 28, 2003 by Fildes, Christopher
The National Provident Institution is joining Australian Mutual Provident (and, of course, the Holy Roman Empire) as a triple-decker misnomer. It is closing its books to new customers, which, in life assurance, usually means a sentence of slow death. When AMP turned up in London, like an uncle from Down Under with more money than sense, National Provident was one of the businesses for which it paid, or overpaid.
To think that this historic life office once had John Maynard Keynes for its chairman, until more conventionally minded colleagues eased him out! Mediocrities know how to look after each other. Alas, they then offer to look after us.
Copyright Spectator Jun 28, 2003
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