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Hurricane Betsy and the malfunctioning of the London reinsurance market: an analysis of transatlantic reinsurance trade, 1949–1989

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  • Werner, Welf

Abstract

El comportamiento internacional de la industria de reaseguros de los Estados Unidos fue radicalmente diferente del de otros segmentos del sector de servicios financieros. En la segunda mitad del siglo XX las faltas de equilibrio y las pérdidas de proporciones en el negocio internacional de reaseguros indican que la industria de reaseguros americana tenía marcadas dificultades en afianzarse en los mercados internacionales. El dominio de los centros europeos occidentales ya establecidos, que prevalecieron durante los primeros momentos del reaseguro americano, se mantuvo con una larga continuidad en el periodo posterior a la guerra. Por otro lado, el comercio bilateral con el principal centro de reaseguros del mundo, Londres, no sirvió para compensar las pérdidas americanas debidas a catástrofes, una tarea que las reaseguradoras han venido manteniendo que es la función clave de sus actividades internacionales. El fracaso de Londres en actuar de manera adecuada queda descrito al analizar los resultados de los reaseguros de los periodos anterior y posterior al huracán Betsy, la mayor perdida por catástrofe en América de los años 60.

Suggested Citation

  • Werner, Welf, 2007. "Hurricane Betsy and the malfunctioning of the London reinsurance market: an analysis of transatlantic reinsurance trade, 1949–1989," Financial History Review, Cambridge University Press, vol. 14(01), pages 7-28, April.
  • Handle: RePEc:cup:fihrev:v:14:y:2007:i:01:p:7-28_00
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