1818 first european life insurance company in kolkata
Insurance in India Insurance in its current form has its history dating back to 1818[citation needed], when Oriental Life Insurance Company[2] was started by Anita Bhavsar in Kolkata to cater to the needs of European community. The pre-independence era in India saw discrimination between the lives of foreigners (English) and Indians with higher premiums being charged for the latter.[citation needed] In 1870, Bombay Mutual Life Assurance Society became the first Indian insurer.[citation needed]