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A History of Tontines in Germany.

Phillip Hellwege

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A tontine may be described as a pooled life annuity. Investors buy shares, and the issuer promises to pay interest on the raised c...

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Description

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. Phillip Hellwege analyses the origins of tontines, their occurrence and their diverse designs in German-speaking territories from the middle of the 17th century to their decline in the late 19th century and early 20th century. Furthermore, he assesses their importance for the development of insurance (law) in Germany.

Informations sur le produit

Titre:

A History of Tontines in Germany.

Sous-titre :

From a multi-purpose financial product to a single-purpose pension product.

Auteur:

Phillip Hellwege

EAN:

9783428556168

Format:

eBook (pdf)

Producteur:

Duncker & Humblot GmbH

Genre:

Généralités, lexiques

Parution:

27.09.2018

Protection contre la copie numérique:

filigrane numérique

Taille de fichier:

2.11 MB

Nombre de pages:

190

Mehr entdecken: Droit

Généralités, lexiques, Droit du travail, droit social, Droit civil, procédures civiles, Droit commercial, droit économique, Droit international, droit étranger, Droit public, administratif, constitutionnel, Autres, Impôts, Droit pénal, criminologie