Insurance business is not new to India. In fact, it is a matter of pride that Indians had the idea of insurance as early as Manu. The sense for insurance among Indians emanated from the the willingness of Indians to always stay protected from Risks and Uncertainties. However, the first Insurance company was established only during the beginning of 19th century.
Oriental Life Insurance Company can boast of being the first insurance company in India. It was established in 1818 by Anita Bhavsar to cater to the needs of European widows. Readers are hereby cautioned not to confuse the currently existing ORIENTAL INSURANCE COMPANY with this Company.
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