The Evolution of the Industry Structure

Pearson, Robin

Abstract

Chapter 3 provides a historical overview of the reinsurance market and business development since its earliest days. It covers not only dedicated reinsurers but also other market participants, such as brokers and first insurers’ risk sharing through co-insurance. Between 1860 and the Second World War, reinsurance is shown to have grown from being an infant service to large multinational insurance companies, into adulthood as a specialist industry in its own right. This period, also called the ‘golden age’ of reinsurance, witnessed the formation of modern reinsurance practice and the development by the professional reinsurance companies of a global network of treaty partnerships with cedent companies. A final section outlines major trends since 1945.

Citation

Pearson, R. (2017). The Evolution of the Industry Structure. In G. Jones, & N.-V. Haueter (Eds.), Managing Risk in Reinsurance: From City Fires to Global Warming (70-91). Oxford University Press. https://doi.org/10.1093/acprof%3Aoso/9780198754916.003.0003

• Online Publication Date: Nov 24, 2016
• Publication Date: 2017
• Deposit Date: Apr 1, 2022
• Publisher: Oxford University Press
• Pages: 70-91
• Book Title: Managing Risk in Reinsurance: From City Fires to Global Warming
• Chapter Number: 3
• ISBN: 9780198754916
• DOI: https://doi.org/10.1093/acprof%3Aoso/9780198754916.003.0003
• Keywords: Brokers; Co-insurance; Business development; Risk sharing; Multinational; Modern reinsurance; Global network; Treaty
• Public URL: https://hull-repository.worktribe.com/output/1099329
• Contract Date: Oct 1, 2016