An overview on the history of actuarial calculus in Portugal until the late 19th century

Abstract

Pension funds, namely survivors' pension funds were established in Portugal in the late 18th century, in mutual benefit societies. The first Portuguese life assurance companies were created in the first half of the 19th century but their activity was not very extensive. Only in the 20th century did both institutions become actuarially-based. In this paper, we provide an overview of the development of actuarial calculus in Portugal until the late 19th century, in order to contextualise the scientific progress of those institutions, mainly the former. This paper lays the groundwork for further research on the history of actuarial calculus in Portugal.