(Source: Duncker & Humblot)
Duncker &
Humblot published a new book on the origins, development and decline of the
tontine.
ABOUT THE BOOK
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.
The different
authors analyse the origins of tontines, their diverse developments and careers
in selected countries, their importance for the development of insurance (law),
their decline in the late 19th and early 20th century and their potential as a
pension product of the future.
ABOUT THE EDITOR
Prof. Dr.
Phillip Hellwege M.Jur. (Oxford) ist seit 2010 Inhaber des Lehrstuhls für
Bürgerliches Recht, Wirtschaftsrecht und Rechtsgeschichte an der Universität
Augsburg. Zuvor war er von 2003 bis 2010 wissenschaftlicher Referent am
Max-Planck-Institut für ausländisches und internationales Privatrecht in
Hamburg. 2015 erhielt er einen Consolidator Grant des European Research Council
(ERC) für ein auf fünf Jahre angelegtes Projekt zur vergleichenden Geschichte
des Versicherungsrechts in Europa. Seine
Forschungsschwerpunkte liegen im Bürgerlichen Recht, im Europäischen Privatrecht,
in der Historischen Rechtsvergleichung sowie in der Geschichte des
Wirtschaftsrechts und des Versicherungsrechts.
TABLE OF CONTENTS
Phillip Hellwege
Introduction
1. The Framework
for the Development of Tontines
Christian
Rietsch and Georges Gallais-Hamonno
Lorenzo Tonti
Georges
Gallais-Hamonno and Christian Rietsch
Financial
Engineering in the 17th and 18th Centuries – Tontines in England, France, and
Ireland
Robin Pearson
The
Socio-Economic Setting for Developing Tontines from the 17th to the 19th
Centuries
2. A Comparative
Legal History of Tontines
Sophie Delbrel
Tontines in
France from the Ancien Régime to the Third Republic
Boudewijn Sirks
Tontines in the
Dutch Republic and the Early Kingdom (1670–1869)
John MacLeod
Tontines in
England and Scotland
Martin Sunnqvist
Tontines in
Scandinavia
Phillip Hellwege
Tontines in
German-Speaking Territories
Kent McKeever
Tontines in
Portugal – Nicholas Bourey's Paleo-Tontine of 1641
Maura Fortunati
Tontines in
Italy
Rafael Illescas
Tontines in
Spain
Kent McKeever
The Evolution of
the Tontine in North America
Marcelo Nasser
Tontines in
Latin America
Jan Halberda
Tontines in
Poland
Balázs Tőkey
Tontines in
Hungary
Tamara
Korchagina
The Russian Experience
with Tontine Insurance
3. The Present
and Future of Tontines
Moshe A.
Milevsky
What Can Tontine
Design of the Future Learn from Its Past?
Jan-Hendrik Weinert
Tontines in Europe Today
Jonathan Barry
Forman and Michael J. Sabin
Tontines in the
Western World Today
Salvatore
Mancuso
Tontines and
other Forms of Rotating Credit Associations in Africa
4. Comparative
Analyses
Jerònia Pons
Pons
A Comparative
Analysis from the Perspective of Economic History
Phillip Hellwege
A Comparative
Analysis from the Perspective of Legal History
More information
here
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