A comparative analysis from the perspective of legal history / Phillip Hellwege. Lorenzo Tonti / Christian Rietsch, Georges Gallais-Hamonno -- Financial engineering in the 17th and 18th centuries - tontines in England, France, and Ireland / Georges Gallais-Hamonno, Christian Rietsch -- The socio-economic setting for developing tontines from the 17th to the 19th centuries / Robin Pearson -- Tontines in France from the Ancien Regime to the Third Republic / Sophie Delbrel -- Tontines in the Dutch Republic and the Early Kingdom (1670-1869) / Boudewijn Sirks -- Tontines in England and Scotland / John MacLeod -- Tontines in Scandinavia / Martin Sunnqvist -- Tontines in German-speaking territories / Phillip Hellwege -- Tontines in Portugal - Nicholas Bourey's Paleo-Tontine of 1641 / Kent McKeever -- Tontines in Italy / Maura Fortunati -- Tontines in Spain / Rafael Illescas -- The evolution of the tontine in North America / Kent McKeever -- Tontines in Latin America / Marcelo Nasser -- Tontines in Poland / Jan Halberda -- Tontines in Hungary / Balazs Tokey -- The Russian experience with tontine insurance / Tamara Korchagina -- What can tontine design of the future learn from its past? / Moshe A. Milevsky -- Tontines in Europe today / Jan-Hendrik Weinert -- Tontines in the western world today / Jonatha Barry Forman, Michael J. Sabin -- Tontines and other forms of rotating credit associations in Africa / Salvatore Mancuso -- A comparative analysis from the perspective of economic history / Jeronia Pons Pons -- A comparative analysis from the perspective of legal history / Phillip Hellwege.
Summary:
A tontine may be described as a pooled life annuity. Investors buy shares, and the issuer promises to pay interest on the raised capital. The characteristic feature of tontines is that the annuities of deceased investors are shared by surviving investors. With the death of the last survivor, the issuer's obligation to pay annuities terminates and the issuer has no obligation to pay the raised capital back. Investors may use a tontine as a pension product and the issuer may use it as a means to raise capital. It is generally believed that the Italian Lorenzo Tonti (1602?1684) invented tontines and that he proposed them to Cardinal Mazarin (1602?1661) in 1653.0The different authors analyse the origins of tontines, their diverse developments and careers in selected countries, their importance for the development of insurance (law), their decline in the late 19th and early 20th century and their potential as a pension product of the future.
Series:
Comparative studies in the history of insurance law, 2625-638X ; volume 2
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