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]
American Income Life Insurance Company AIL has more than two million policyholders (as of June 2013).[1] With its New York subsidiary, National Income Life Insurance Company (NILICO), the company has combined assets of more than $2.6 billion, with more than $41.3 billion of life insurance in force (as of April 2013).[2] American Income Life is a wholly owned subsidiary of Torchmark Corporation (NYSE: TMK), based in McKinney, Texas.[3]