Table of contents Risk tradition and risk trading From conjecture to calculation The birth of modern insurance Global expansion Reinsurance World War II A poor start for the 21 st Natural catastrophes Financial catastrophes, regulation, and a poTable of Contents Foreword 2 Introduction 4 Risk tradition and risk trading 6 From conjecture to calculation 8 The birth of modern insurance 10 Global expansion 16 Reinsurance 24 San Francisco 26 Swiss Re History 30 Money matters 38 World War II 44 Booming economy and growing problems 46 More money matters 50 A poor start for the 21st century 54 Natural catastrophes 56 Financial catastrophes, regulation, and a positive outlook 60