International Insurance Law & Regulation – India Chapter
The Indian insurance industry emerged in the 19th century with the establishment of the Oriental Life Insurance Company, a British ﬁrm, in Calcutta. However, this company discriminated between the lives of foreigners and Indians, with higher premiums being charged for the latter. It was only in 1870 that Bombay Mutual Life Assurance Society covered lives of Indians at normal rates.
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