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The Value of RiskSwiss Re and the History of Reinsurance$
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Harold James, Peter Borscheid, David Gugerli, and Tobias Straumann

Print publication date: 2013

Print ISBN-13: 9780199689804

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199689804.001.0001

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(p.146) (p.147) Chapter 6 Introduction
The Value of Risk

Harold James

Peter Borscheid

David Gugerli

Tobias Straumann

Oxford University Press

David Gugerli explores the development of the continental reinsurance industry. He starts with a description of what was perceived to be a reinsurance crisis in the 1960s. Dwindling technical results in motor liability had to be compensated by investment returns. New unknown risks and risks of hitherto unimaginable sizes required know-how which was not readily available. Furthermore, the business of clients, the direct insurers, boomed and reduced their need for extra reinsurance cover. A look at the international meetings of the industry during this time reveals how they were struggling to deal with global challenges and began calling for an industry-wide organization. Against this background the author then sets out to describe the development of continental reinsurance from the mid nineteenth century on as a distinct business model and industry.

Keywords:   Monte Carlo, large risks, industry organization, tariffication

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