Question

Which of the following statements about the history of reinsurance is correct?

a.

The first reinsurance contract in fire insurance business was concluded in 1821.

b.

Reinsurance has been used in the insurance industry since ancient times.

c.

The concept of reinsurance was first introduced in the 20th century.

d.

Reinsurance was originally developed as a way to avoid paying claims.

Posted under IC85 Reinsurance Management

Answer: (a).The first reinsurance contract in fire insurance business was concluded in 1821. Explanation:The first reinsurance contract in fire insurance business was concluded in 1821.

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Q. Which of the following statements about the history of reinsurance is correct?
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