Question

When was the first reinsurance contract in fire insurance business concluded?

a.

1778

b.

1681

c.

1821

d.

1864

Answer: (c).1821 Explanation:The earliest reference to reinsurance in fire insurance business is found in a Royal concession granted to the Royal Chartered Insurance Insurer of Copenhagen in 1778, but the first reinsurance contract in fire insurance business was concluded in 1821.

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Q. When was the first reinsurance contract in fire insurance business concluded?

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