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Establishing insurance markets in settler economies. a comparison of Australian and South Africa insurance markets, 1820-1910

Keneley, Monica and Verhoef, Grietjie 2015, Establishing insurance markets in settler economies. a comparison of Australian and South Africa insurance markets, 1820-1910, African historical review, vol. 47, no. 1, pp. 76-105.

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Title Establishing insurance markets in settler economies. a comparison of Australian and South Africa insurance markets, 1820-1910
Author(s) Keneley, MonicaORCID iD for Keneley, Monica orcid.org/0000-0002-2569-4948
Verhoef, Grietjie
Journal name African historical review
Volume number 47
Issue number 1
Start page 76
End page 105
Total pages 30
Publisher Routledge
Place of publication Abingdon, Eng.
Publication date 2015-01-02
ISSN 1753-2523
1753-2531
Keyword(s) competition
entrepreneurs
insurance markets
mutuality
settler societies
Summary How did insurance markets in the settler economies of Australia and South Africa develop? This paper investigates the establishment of the local insurance industries in two settler economies in the wake of the absence of comparative studies in the emergence of insurance markets in the periphery. The paper compares conditions in these settler economies and notes the innovative role of local entrepreneurs. British insurance companies extended operations into the British colonies, but local interests emerged to challenge their dominance. Innovations in organisational form, product offerings and distribution channels afforded local entrepreneurs a competitive advantage in the life market. Collusion in the fire market restricted innovative practices and retained foreign control. This article explains the agency of local entrepreneurs in the emergence of insurance markets in two settler societies at the end of the nineteenth century. This historical development path has notable implications for the current development of insurance markets in Africa.
Language eng
Field of Research 150203 Financial Institutions (incl Banking)
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Unisa press
Persistent URL http://hdl.handle.net/10536/DRO/DU:30078434

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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