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Indian Insurance History

Indian Insurance History

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Published by: panditpep on May 04, 2010
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 1818 1818 - The insurance industry is the backbone of country's Risk Management. The beginning of the Indian insurance industry datesback to the nineteenth century. In
1818
, Europeans started OrientalLife InsuranceCompany in Kolkata (Calcutta)1. 1858 Dec 9, 1858 - ike 6ity of Washingtonoff Cape Race. Arrival of the Edinburg at G.--No News of the Indian Empire, NiIORED RECALLOF LORD . OF THE TRIAL, Wotton Unchanged-Breadstuhff andProvisions pull-Consols3. 1860 1860 - The great amalgamation that took place in
1860
betweenthe powerful Albert and the influential Medical may have beenactuated by considerations of policy or by financial expediency but,in any case, was a remarkable event and produced a very stronginsurance combine.5. 1870 1870 - The first Indian Insurance Company to cover Indian lives at normal rates was Bombay Mutual Life Assurance Society whichwas established in the year 
1870
.7.1870 - Although there was no legislative enactment inIndiaas intheUnited Kingdomin
1870
, the year stands out as a landmark inthe history of Indian insurance, separating the early period of pioneering attempts at life insurance.9.May 1870 - 4.The first Indian insurance company was the BombayMutual Assurance Society Ltd,formed in
1870. 5
.Life insurancebusiness was nationalised in India with the setting up of the LifeInsurance Corporation of India(LIC) on September 1,1956.11. 1902 May 13, 1902 - Prof. Willlam B. Scott, the geologist, made the following statement this morning concerning the destructiveearthquake and volcanic eruptions. " The evidence gleaned fromthe newspaper accounts is both contradictory and inconclusive.
 
13. 1912 1912 - In order to regulate the insurance business in India and to certify the premium rate tables and periodic valuations of theinsurance companies, the Life InsuranceCompanies Actand the Provident Fund Act were passed to regulate the InsuranceBusiness in India in
...
 Show moreFrom Final+-Related web pages www.scribd.com/doc/18490519/Final15. 1914 Feb 1914 - The authoritative history of Indian insurance began to be recorded for the first time when theGovernmentof India startedpublishing the Returns of Life Assurance Companies in India in theyear 
1914.2
The first issue of this publication contains a reference.From Life Insurance in India - Its History, Law, Practice andProblems -Related web pages books.google.com/books?id=9Nsnh4ggKNQC&pg=PA6 ...17. 1919 1919 - Sir Dorabji Tata in association with a number of patriotic businessmen conceived the idea of establishing a great and trulyIndian composite insurance company and promoted, through theTata Industrial Bank, theNew India AssuranceCompany Limited,in
1919
, at a
...
 Show moreFrom Untitled Document-Related web pages www.tatacentralarchives.com/tata_trivia ...19. 1928 1928 - In
1928
, prominent insurance men of Bombay met andformed the Indian insurance companies association to protect theinterest of Indian insurers. Leaders of the insurance industry beganto organize conferences, educate public on the benefit of insurance, focus
...
 
From MBA Final year project in Insurance-Related web pages www.docstoc.com/docs/14215558/MBA-Final-year ...21. 1930 Apr 1, 1930 - AE Magnell Financial Editor. The annual statement of  Colt's Patent Fire Arms Manufacturing company revealing earningsof $688524 or $3.45 a share compared with $248272 in 1928, or $1.25 was beyond expectations in market circles. It was expectedthat a considerably improved statement
...
 From Hartford Stocks-Related web pages pqasb.pqarchiver.com/courant/access/819887892 ...23. 1933 Feb 27, 1933 - Once war-like Apache Indians have forsaken their  resistance to the "white man's" laws, and now seek their protectioninstead of resorting to the time-honored tomahawk in settlingdisputes, it is evidenced in the suit brought by the relatives of twoApache Indian. INSURANCE. SOUGHT BY
...
 From INSURANCE SOUGHT BY INDIAN KIN-Related web pages pqasb.pqarchiver.com/latimes/access/388697811 ...25. 1935 Oct 1, 1935 - Ship Insurance Rates Up . Bombay, September  (CPHavas) — Indian insurance com panies were reported today tohave decided to issue insurance on cargoes loaded in Italian ships.The companies announced a 40 per cent increase in war risk insurance rates on cargoes loaded in India and
...
 From Ship Insurance Rates Up .-Related web pages news.google.com/newspapers?id=cYg1AAAAIBAJ ...27. 1938 Feb 18, 1938 - Incorporated on
18th February, 1938
,United IndiaInsurance Co. Ltd. was later formed by the merger of 22companies, including 12 Indian Insurance Companies, 4Cooperative Insurance Societies, Indian operations of 5 ForeignInsurers, and general29. 1939 Mar 1939 - "Some Re-assurance Problems," by WH Clough, Indian Insurance Journal,
March 1939
. when the original policy is revived.In the case of sub-standard lives, when the principal office imposes

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