History of Reinsurance

Some history [1]Life Reinsurance Smart 1970

  • Life reinsurance practice in this country can be traced as far back as the
    middle 19th century when some Scottish offices made an agreement concerning their
    acceptance of reinsurance of amounts surplus to each other s retentions.
    Retentions were relatively high in those days and during the years following this
    first reinsurance agreement, more attention came to be paid to both the
    fundamentals and the practice of reinsurance.
  • 1900 saw a reassurance agreement signed by many offices defining the code of
    conduct and method of administration of reinsurances
  • In 1919 the first professional reinsurer entered the United Kingdom market but
    progress was relatively slow until after the Second World War. In 1958 a second
    professional reinsurer entered the market