Life Assurance in France

Extract

One of the most remarkable features in the history of the nineteenth century has been the rapidity with which some scientific discovery made in one country has been followed, and often eclipsed, by one on similar lines in another country. The reason for this is not far to seek, for he who would excel in any branch of science or learning must keep himself thoroughly acquainted with its latest developments, and with the progress it is making in all parts of the world. Thus, we find that a rivalry has sprung up, which grows keener every day, between this and the Continental countries in Science and Philosophy, as well as in Commerce and Politics. In this country, however, until quite recently, the insurance world in general, and the actuarial student in particular, have not considered it worth while to inquire how and upon what lines insurance business is carried on across the Channel. So far as I have been able to ascertain, the only books in the Faculty Library dealing with the subject of Life Assurance in France are Walford's Insurance Cyclopœdia, published in 1876, and a pamphlet by H. S. Washburn in 1879. The object of this paper is to supplement to some small extent the information contained in these volumes, and to place materials in the hands of the Actuarial Society which will enable its members to form some idea of the progress and nature of life assurance business in France.