Highlights on Reinsurance History

André Straus and Leonardo Caruana de las Cagigas (eds.)

Highlights on
Reinsurance History

International Issues

Vol. 42

The book was subject to a double blind refereeing process.

No part of this book may be reproduced in any form, by print, photocopy, microfilm or any other means, without prior written permission from the publisher. All rights reserved.

© P.I.E. Peter Lang s.a.

éditions scientifiques internationales

Bruxelles, 2017

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www.peterlang.com; brussels@peterlang.com

ISSN 2030-3688

ISBN 978-2-8076-0288-5

ePDF 978-2-8076-0289-2

ePub 978-2-8076-0290-8

Mobi 978-2-8076-0291-5

DOI 10.3726/b12250

D/2016/5678/31

Bibliographic information published by “Die Deutsche Nationalbibliothek”.

“Die Deutsche Nationalbibliothek” lists this publication in the “Deutsche National-bibliografie”; detailed bibliographic data is available on the Internet at http://dnb.de.

Library of Congress Cataloging-in-Publication Data

Names: Straus, Andre, editor. | Caruana, Leonardo, editor. Title: Highlights on reinsurance history / Andre Straus and Leonardo Caruana, editors. Description: New York : Peter Lang, [2017] | Series: International issues ; Vol. 42 | Includes bibliographical references and index. Identifiers: LCCN 2017001488 (print) | LCCN 2017025641 (ebook) | ISBN 9782807602892 (E-book) | ISBN 9782807602908 (E-Pub) | ISBN 9782807602915 (Mobi) | ISBN 9782807602885 (alk. paper) Subjects: LCSH: Reinsurance-History. Classification: LCC HG8083 (ebook) | LCC HG8083 .H54 2017 (print) | DDC 368/.012209-dc23

LC record available at https://lccn.loc.gov/2017001488

About the book

Despite being one of the main pillars of the insurance industry, reinsurance is little known by the general public and is rarely the focus of academic study. In this book, the authors – economic historians and experts in the field from across Europe and Japan – seek to address this by shedding light on one of the most globalized of all economic activities. In a clear and engaging manner, they reveal the history of reinsurance in both national and international contexts, aiming to illuminate this vital, but often overlooked, aspect of insurance.

About the editors

André Straus is Directeur de Recherche Émérite at CNRS and Professor at the University Paris 1 Panthéon Sorbonne. He specializes in financial and monetary history, and his recent research is mainly concerned with the history of insurance and reinsurance. He was the editor of the “Insurance and the World”, special issue of Entreprises et Histoire No. 72, for which he wrote an article on France: “La concentration des entreprises d’assurances en France depuis la Seconde Guerre mondiale: réalités et limites”.

Leonardo Caruana de las Cagigas is a Tenured Lecturer at the University of Granada. He co-authored Insurance History of Spain with Gabriel Tortella. His recent publications include “The Demutualization Process develops in Spain with Mapfre”, in Corporate Forms and Organizational Choice in International Insurance (Robin Pearson and Takau Yoneyama, eds., 2015) and “The Financing of Insurance Companies in Recent Years”, which he contributed to Entreprises et Histoire No. 72. Highlights on Reinsurance History

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Table of Contents

Introduction

Interview with José Manuel Martinez, President of Honor of MAPFRE

Leonardo Caruana de las Cagigas

The Impact of Reinsurance upon Marine and Fire Insurance Markets in Japan, 1890-1923

Takau Yoneyama

Global Insurance Market and Sergey Yu. Witte’s Economic Policy

Yury Petrov

International Reinsurance in the 1920s

André Straus

From Actuaries to Scientific Research

Christopher Kopper

Swedish Life Reinsurance and Risk Management

Mats Larsson & Mikael Lönnborg

The Creation of Complex Reinsurance Networks in Spain (1880-1940)

Pablo Gutiérrez González & Jerònia Pons Pons

The Development of Spanish Reinsurance from 1940 to the Present Day

Leonardo Caruana de las Cagigas

Appendix

Temporary Concluding Remarks

Bibliography←7 | 8→ ←8 | 9→

Introduction

Diversity in the Setting up of Reinsurance

Reinsurance specifically differs from insurance in that the insurance market is related to the clients (mainly people, companies, etc.) and reinsurance is related to insurance companies or reinsurance companies with an essential need of financial capability. In addition, reinsurance helps to develop the insurance market in underdeveloped countries and its headquarters are normally located at the geographical hub of the financial market in those countries.