answers: Oriental Life Insurance Company
context: 2001, the largest life-insurance company in India, Life Insurance Corporation of India has seen its market share slowly slipping to private giants like HDFC Life Insurance, Exide Life Insurance, ICICI Prudential Life Insurance and SBI Life Insurance Company. Insurance in this current form has its history dating back to 1818, when "Oriental Life Insurance Company" 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. In 1870, "Bombay Mutual Life Assurance Society" </s> there was to be some uncertainty as to how definitive these rights were. McCulloch and Tod were keen from the outset to provide banking services to their trading partners: "they had set their minds on having, `like banks`, promissory notes to pay to agents, weavers, manufacturers and other customers"; these were duly issued in 1747. However, "three years later the Company issued true bank notes, payable on demand, and non-interest bearing." Despite the increasing provision of banking services, the Company remained primarily an industrial concern through the 1750s but with limited financial success. There were arguments between the founders over </s> informal beginnings led to the establishment of the insurance market Lloyd's of London and several related shipping and insurance businesses. In 1774, long after Lloyd's death in 1713, the participating members of the insurance arrangement formed a committee and moved to the Royal Exchange on Cornhill as the Society of Lloyd's. The first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen. The first plan of life insurance was that
question: 1818 first european life insurance company in kolkata