File:Fuenfte Assekuranz Kompagnie Hamburg 1808.jpg

English: Stock certificate of the Fünfte Assekuranz-Kompagnie for 3,000 Marks Banco, issued in Hamburg on 31 December 1808, signed in the original by the Mayor of Hamburg Christian Matthias Schröder, Johann Michael Hudtwalker & Co, Luis & Jencquel, Jacob Albers (President of the Hamburg Chamber of Commerce 1816-1817), Johann Gerhard Graepel and Johann Gabe & Sohn. Founded in 1779 by the merchant Ulrich Moller with a share capital of 1.5 million Mark Banco, divided into 500 shares of 3,000 Mark Banco each. The shares were initially paid up at 20 %. Interestingly, the shareholders were obliged to raise the missing 80 % in the form of bonds. Of this 80 %, the directors could call up as much as the company's business performance required. In the articles of association, the purpose of the company was described as follows: "The company assumes assecurances for risks at sea, on rivers and for shipments on land, for port, district and fire risks". The Fünfte Assekuranz-Kompagnie was limited to a period of 10 years, but was renewed three times in 1788, 1798 and 1808. In 1818 and 1828 it was decided to continue the company for a further ten years. The first directorate consisted of the following personalities or companies: Messrs Christian Matthias Schröder and company, Johann Michael Hudtwalcker and company, Messrs Luis and Jencquel, Johann Gerhard Graepel, Jacob Albers, Messrs Johann Gabe and son. The directors did not have any executive duties, but merely exercised an activity corresponding to that of today's supervisory board. The end of the company is closely linked to the Great fire of Hamburg of 5 May 1842, which affected 71 streets in Hamburg's inner city. It destroyed 1,749 houses, 102 warehouses, 7 churches and numerous public buildings, many of which were insured by the Fifth Assekuranz - Kompagnie. There were 51 dead, 130 injured and 20,000 homeless. The company could not cope financially with this major loss. It had to settle an insured sum of 2.3 million Mark Banco, of which it was only able to pay 75%. As a result, it had to be liquidated.