Los seguros en España: 1830-1934

Editada en la Fundación Empresa PúblicaEl sector de los seguros en la España contemporánea está prácticamente sin estudiar pese a la enorme importancia de esta actividad financiera, que es no sólo reflejo sino también motor del desarrollo económico. Además puede ser un indicador de la evolución de otros sectores, puesto que en el capitalismo todo aquello que tiene un valor se asegura. Este artículo pretende ser una primera aproximación al sector seguros en España entre 1800 y 1934, a la que hemos tratado de dar la máxima generalidad para ofrecer una primera imagen que sirva de marco para futuras investigaciones.The insurance industry in modem Spanish history has not practically yet been studied, notwithstanding the considerable significance of this financial activity which is not only a reflection of economic development but also in itself motive power thereof. It may also be used as an indicator of the evolution of other sectors, since in the capitalist system everything of value is always insured. This paper is intended as a first approach to the insurance industry in Spain from 1800 to 1934 and as such it has been given a maximum of generality so as to present a framework which may be used for further investigation.Publicad

Managing financial constraints: Undercapitalization and underwriting capacity in spanish fire insurance

Reinsurance is a vital financial device for enhancing underwriting capacity, ceding risks and mitigating financial distress. By supplying financial resources and services, reinsurance can facilitate growth and expansion in the insurance business. Focusing on the insurance sector in the emerging Spanish economy and using a novel dataset on fire insurance companies, this paper examines the role of fire insurance in the capital formation, the importance of reinsurance as a vehicle for expanding the country’s domestic underwriting capacity, and how the capital import impacted on the balance of payment, from the introduction of the first comprehensive legislation regarding insurance in 1908 to the outbreak of the Civil War in 1936. Considering the situation of undercapitalization, the singularities of the insurance market, and the changes in regulatory schemes, we find that foreign reinsurance became a key financial vehicle for increasing the underwriting capacity in Spain. We also show the struggle for an emerging market to find ways to keep balance of current accounts and raise capital when the financial infrastructure is underdeveloped. The diffusion of reinsurance networks from the core of industrial Western countries towards emerging economies was one of the mechanisms for financial modernization on a global scale

Comercio marítimo en España, 1850-1920

Tesis doctoral inédita. Universidad Autónoma de Madrid, Facultad de Derecho.Fecha de lectura: 30-6-198