The Royal Insurance Company was founded in Liverpool, England, in 1845, and has served the North American market since 1851. It acquired the British American Assurance Company and the Western Assurance Company in 1961. The British America Assurance Company, the oldest financial institution in Ontario and the second oldest fire insurance company in Canada, was founded in 1833. The Western Assurance Company, established 1851, built its head office on this site in 1880, and, in 1892, began a working arrangement with British America. A new building constructed here in 1951 was incorporated into the present structure in 1980 to form the headquarters of the Royal Insurance Company of Canada. This site, part of the property of Chief Justice Sir Thomas Scott, was occupied until 1879 by the Cooper's Arms Tavern.