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World InsuranceThe Evolution of a Global Risk Network$
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Peter Borscheid and Niels Viggo Haueter

Print publication date: 2012

Print ISBN-13: 9780199657964

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199657964.001.0001

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Russia: Early Expansion, State Involvement, and Re-Emergence of the Insurance Industry

Russia: Early Expansion, State Involvement, and Re-Emergence of the Insurance Industry

Chapter:
(p.213) Chapter 9 Russia: Early Expansion, State Involvement, and Re-Emergence of the Insurance Industry
Source:
World Insurance
Author(s):

Yury A. Petrov

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199657964.003.0009

This chapter traces the history of the Russian insurance industry. The pioneers of insurance in Russia were the Dutch, who during the reign of Peter the Great (1682–1725) became the major agents of Russia's foreign trade. Marine and marine cargo insurance were also provided in Russia by foreign insurance companies operating through agents in the principal Russian ports. From the eighteenth to the first half of the nineteenth century, insurance in Russia, with its under-developed entrepreneurial sector, was a state initiative. The official state monopoly was replaced by a short-lived oligopoly of private fire insurance companies (it existed until 1847). The first marine and life insurance institutions had emerged by that time, but it was not until the second half of the nineteenth century that a real free market in insurance began to take hold in Russia.

Keywords:   Russian insurance industry, insurance business, marine insurance, foreign trade, fire insurance, life insurance, insurance history

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