THE EMERGENCE OF THE FIRST INSURANCE ORGANIZATIONS IN THE GLOBAL ECONOMY

Аннотация

This paper examines the process of emergence and development of the first insurance organizations in the global economy. The article analyzes the historical background of the emergence of insurance as a form of risk protection, starting with ancient civilizations (Sumer, Babylon, Ancient Egypt) to the formation of the first professional insurance companies in Europe. Particular attention is paid to the development of marine insurance in the Middle Ages and the creation of such organizations as Lloyd's of London. It also examines the socio-economic conditions that contributed to the institutionalization of insurance activities and the formation of its legal framework.