Interesting facts
History of insurance
On April 18, 1906, San Francisco experienced one of the largest earthquakes in insurance history in terms of economic damage. The 7.9 magnitude earthquake lasted only about a minute, but caused significant damage and fires, destroying about 80% of the city's buildings. It was the fires that…
History of insurance
At the beginning of the XX century, when railroads were being built at a rapid pace, steamships and telegraphs were running everywhere, and international trade was booming, no one believed that a major European war would break out. In 1909, there was even published a book called “Europe's…
History of insurance
On April 10, 1912, the British transatlantic steamship "Titanic", nicknamed "unsinkable", set sail from Southampton to New York, on its first and, unfortunately, only voyage. On April 14, "Titanic" collided with an iceberg and sank in the icy waters of the Atlantic Ocean. From the beginning of…
History of insurance
The formation of the insurance business in Russia is usually attributed to the mid-19th century, when Russian insurance companies began to be established to insure real estate against fire. Until that time, the need for insurance was met by foreign insurers, which entailed a large outflow of…
History of insurance
Benjamin Franklin, one of the most influential figures of the 18th century, was an American politician, diplomat, inventor, scientist, writer and philosopher. He was the only founding father to sign all three of the most important historical documents underlying the formation of the United…
History of insurance
On April 06, 1942 English cruiser "Edinburgh" at the head of a convoy of ships left Murmansk for Reykjavik. On board the cruiser were 93 wooden crates, which stored 465 gold bars with a total weight of 5.5 tons. The total amount of gold bars was about 90 million dollars (in today’s money) and…
History of insurance
Barings Bank was founded in 1762 in London by brothers Francis and John Baring, which was initially involved in financing trade deals with the Netherlands. By the beginning of the 19th century, it had become one of the major banks, primarily for financing transactions related to the United…
History of insurance
Lloyd's of London or simply known as Lloyd's is the world’s leading insurance marketplace, where every day more than 50 leading insurance companies, over 380 registered Lloyd’s brokers and a global network of over 4 000 local coverholders operate in and bring business to the Lloyd’s market. Its…
History of insurance
On the morning of September 02, 1666, a fire broke out in Thomas Farriner's bakery on Pudding Lane in the City, immediately engulfing adjacent buildings, and by the morning of September 03 it had spread north and west, destroying, among others, the Royal Exchange and St Paul's Cathedral. The…