A Short History of Actuarial Work

Catrin Townsend ()

Chapter Chapter 2 in A Risky Business, 2022, pp 25-43 from Springer

Abstract: Abstract Like any industry, insurance has own idiosyncrasies, quirks, and jargon. Although this book is not a history book, to understand quite why it was set up in this way, we need to go back to the beginning…. The first evidence of insurance comes from London in 1426, however, the contract was written in Italian by a merchant from Florence. Merchants regularly sailed between Southampton and various Italian ports, and merchants would approach one another and effectively ‘swap’ risk.

Date: 2022
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DOI: 10.1007/978-3-031-11673-5_2

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