Martina Power – Veronika Knotková
Městská pojišťovna, ‘The First Municipal Financial Institution in Prague’
This contribution explores the creation and operation of a project that was unique for its time in the European context, namely the Prague City Insurance Company. In 1864, the Prague City Council voted, in the face of scepticism by German liberals, to establish the Prague City Insurance Company, whose earnings were to help the city offset the operation costs of its fire department. Members of the city council representing emancipating Czech entrepreneurs were responsible for the establishment of the insurance company. After several years operating at a loss, the institute enjoyed relatively rapid financial success, and it expanded its activities in the following years to what were at the time independent municipalities in Prague's suburbs. In addition to expanding its client base, this success can be attributed to good management with minimal operating costs and effective tactics, timely use of new trends in the insurance industry (i.e. expanding the range of insurance types), and references to the City of Prague both in its symbolism and its personnel.
Keywords: Prague City Insurance Company - city economy - history of Prague
design by Bedřich Vémola
