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All fired up: the growth of fire insurance in Sweden, 1830–19501

Published online by Cambridge University Press:  01 March 2010

Magnus Lindmark  and
Lars Fredrik Andersson
Magnus Lindmark
Affiliation:
Umeå [email protected] and [email protected]
Lars Fredrik Andersson
Affiliation:
Umeå [email protected] and [email protected]
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Abstract

In this article we investigate supply and demand factors that have been put forward to explain the growth of fire insurance markets in Sweden during the financial revolution. We show that income growth and urbanisation fostered the demand for fire insurance. The supply of fire insurance, on the other hand, helps explain financial market development. Fire insurance assisted in mortgaging fixed assets, such as houses, through guaranteeing them as collateral. On both the supply side and the demand side, fire insurance was a key factor of the financial revolution in Sweden.

Type
Articles
Information
Financial History Review , Volume 17 , Issue 1 , April 2010 , pp. 99 - 117
Copyright
Copyright © European Association for Banking and Financial History e.V. 2010

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