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Marketing and Pricing Risk in Marine Insurance in Sixteenth-Century Antwerp

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  • Puttevils, Jeroen
  • Deloof, Marc

Abstract

Drawing on a set of insurance contracts brokered in Antwerp in 1562–1563, we demonstrate that by that time Antwerp hosted a sophisticated, large, and international market for marine insurance in which small and large traders could acquire and sell insurance, backed by the intermediation of a large broker, Juan Henriquez who functioned as an open-access institution. Using information from Henriquez's ledgers which was also available to underwriters, we find that insurance premiums reflected the underlying risk and that agents were able to determine the effect of different contract parameters.

Suggested Citation

  • Puttevils, Jeroen & Deloof, Marc, 2017. "Marketing and Pricing Risk in Marine Insurance in Sixteenth-Century Antwerp," The Journal of Economic History, Cambridge University Press, vol. 77(3), pages 796-837, September.
    • Handle: RePEc:cup:jechis:v:77:y:2017:i:03:p:796-837_00
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    Cited by:

    1. Zheng Wan & Jiawei Ge & Jihong Chen, 2018. "Energy-Saving Potential and an Economic Feasibility Analysis for an Arctic Route between Shanghai and Rotterdam: Case Study from China’s Largest Container Sea Freight Operator," Sustainability, MDPI, vol. 10(4), pages 1-13, March.
    2. Kelly, Morgan & Gráda, Cormac Ó & Solar, Peter, 2019. "Safety at Sea during the Industrial Revolution," CAGE Online Working Paper Series 439, Competitive Advantage in the Global Economy (CAGE).
    3. Kelly, Morgan & Ó Gráda, Cormac & Solar, Peter M., 2021. "Safety at Sea during the Industrial Revolution," The Journal of Economic History, Cambridge University Press, vol. 81(1), pages 239-275, March.

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