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First Life Insurance Company In India In 1818

Life insurance in the modern form was first set up in india through a british company called the oriental life insurance company in 1818 followed by the bombay assurance company in 1823 and the madras equitable life insurance society in 1829. Both the above mentioned insurers are currently not operating in india. The oriental life insurance company was started in calcutta by europeans as first life insurance company , later with the efforts of eminent people like baba muttylal , the foreign life insurance company started insuring indian lives. This company however failed in 1834. Insurance in india has evolved over time heavily drawing from other countries, england in particular.

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