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In India the first Life insurance company was set up in ________.

  • In India the first Life insurance company was set up in 1818.
  • The first life insurance company in India was the Oriental Life Insurance Company, which was established in Kolkata in 1818.
  • The company was founded by Europeans who were living in India at the time, and its main purpose was to provide life insurance to European residents of the country.
  • The first Indian-owned life insurance company was the Bombay Mutual Life Assurance Society, which was founded in Mumbai in 1870.
  • This company was established by prominent Indian businessmen and professionals, and it was open to both Indians and Europeans.
  • Over time, more life insurance companies were established in India, both by Indian and foreign investors.
  • Today, there are several life insurance companies operating in the country, offering a wide range of insurance products to individuals and businesses.