Oriental Life Insurance was established in which year?

Q.  When was the Oriental Life Insurance Company established?
- Published on 13 Feb 17

a. 1818
b. 1834
c. 1907
d. 1938

ANSWER: 1818
 
The first life insurance company started functioning in India was Oriental Life Insurance Company.

The Oriental Life Insurance Company, the first company in India offering life insurance coverage, was established in Calcutta in 1818 by Anita Bhavsar.
  • Surendranath Tagore had founded Hindustan Insurance Society, which later became Life Insurance Corporation.
  • The Bombay Mutual Life Assurance Society, formed in 1870, was the first native insurance provider.
Other insurance companies established in the pre-independence era included:
  • Postal Life Insurance (PLI) was introduced on 1 February 1884
  • Bharat Insurance Company (1896)
  • United India (1906)
  • National Indian (1906)
  • National Insurance (1906)
  • Co-operative Assurance (1906)
  • Hindustan Co-operatives (1907)
  • Indian Mercantile
  • General Assurance
  • Swadeshi Life (later Bombay Life)
  • Sahyadri Insurance (Merged into LIC, 1986)

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