Professional Documents
Culture Documents
Indian Insurance History
Indian Insurance History
1.
1858 Dec 9, 1858 - ike 6ity of Washington off Cape Race. Arrival of the
Edinburg at G.--No News of the Indian Empire, NiIORED RECALL
OF LORD . OF THE TRIAL, Wotton Unchanged-Breadstuhff and
Provisions pull-Consols
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1860 1860 - The great amalgamation that took place in 1860 between
the powerful Albert and the influential Medical may have been
actuated by considerations of policy or by financial expediency but,
in any case, was a remarkable event and produced a very strong
insurance combine.
5.
1870 1870 - The first Indian Insurance Company to cover Indian lives at
normal rates was Bombay Mutual Life Assurance Society which
was established in the year 1870.
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May 1870 - 4.The first Indian insurance company was the Bombay
Mutual Assurance Society Ltd,formed in 1870. 5.Life insurance
business was nationalised in India with the setting up of the Life
Insurance 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 destructive
earthquake and volcanic eruptions. " The evidence gleaned from
the newspaper accounts is both contradictory and inconclusive.
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From MBA Final year project in Insurance - Related web pages
www.docstoc.com/docs/14215558/MBA-Final-year ...
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1933 Feb 27, 1933 - Once war-like Apache Indians have forsaken their
resistance to the "white man's" laws, and now seek their protection
instead of resorting to the time-honored tomahawk in settling
disputes, it is evidenced in the suit brought by the relatives of two
Apache Indian. INSURANCE. SOUGHT BY ...
From INSURANCE SOUGHT BY INDIAN KIN - Related web pages
pqasb.pqarchiver.com/latimes/access/388697811 ...
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1938 Feb 18, 1938 - Incorporated on 18th February, 1938, United India
Insurance Co. Ltd. was later formed by the merger of 22
companies, including 12 Indian Insurance Companies, 4
Cooperative Insurance Societies, Indian operations of 5 Foreign
Insurers, and general
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1955 Oct 28, 1955 - Bill Gates On October 28, 1955, in Seattle,
Washington a boy was born. This child would grow up to be one of
the most successful people in the history of man. His name,
Willia... Save Paper. Prehistoric Animals And Their Influence On
Media For AM and T ...
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From The Road Ahead Free College Essays 221 - 240 - Related
web pages
www.oppapers.com/subjects/the-road-ahead ...
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Jan 1956 - In January, 1956, that life insurance in India was
nationalized. About 154 Indian insurance companies, 16 non-Indian
companies and 75 provident were operating in India at the time of
nationalization. Nationalization was accomplished in two stages;
41.
Jan 19, 1956 - However, it was much later on the 19th of January,
1956, that life insurance in India was nationalized. About 154
Indian insurance companies, 16 non-Indian companies and 75
provident were operating in India at the time of nationalization.
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1973 Jan 1, 1973 - The ownership of all shares of both the Indian
insurance companies and the foreign insurers from then on vested
in the Central Government with effect from 1.1.1973.
49.
1987 Jul 26, 1987 - Rooms With a View-On the Wall; New Emphasis on
Esthetics Means Hotel Art Is Looking Better ... find The Washington
Post articles. Until recently, hotel guests could expect to find at
least one thing waiting for them as they checked into their rooms
51.
1988 Aug 28, 1988 - The Insurance Industry Finds Its Premium Status
Threatened; Once Untouchable, Business Now Fair Game for
Change ... find The Washington Post articles. Insurance long has
enjoyed most-favored-industry status with Congress and the states.
53.
1989 Feb 6, 1989 - The proud mission of insurance. (column) ... find
National Underwriter Property & Casualty-Risk &Benefits
Management articles.
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1990 Dec 2, 1990 - City summit on housing gaining steam ... find
Chicago Sun-Times articles. Summitry is in the air.
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1994 Jan 16, 1994 - Insurance Industry Waves Jobs Flag at Its Critics ...
find Chicago Sun-Times articles.
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1997 Feb 27, 1997 - BOMBAY: India is expected to announce new steps
to open up Its lucrative Insur ance sector to foreign In vestors when
Finance Min ister Chidambaram presents his budget tomor row.
71.
1998 May 18, 1998 - Armed with an `AAA' rating from the Crisil, D
Sengupta, the Chairman and Managing Director of New India
Assurance is gearing up for the competition from the multinationals,
if the industry is thrown open to them in the future.
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1999 Jan 17, 1999 - MUMBAI, JAN 16: Reliance Industries Ltd (RIL) has
made one of the biggest claims in the insurance history of Rs 244
crore following a major mishap at its Hazira facilities few months
ago.
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2000 Jan 15, 2000 - ... ,cf301,8.2,9>WITH the passage of the Insurance
Regulatory & Development Authority legislation, the insurance
sector has come to occupy centre-stage. Foreign equity is allowed
to the extent of 26 per cent. The Act defines an Indian insurance
company as on e registered
91.
Feb 4, 2000 - IT has been a long wait for most insurance MNCs
waiting to have a go at the Indian insurance sector.
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Jun 20, 2000 - NEW DELHI, June 20 Asia Pulse - The advisory
committee of Insurance Regulatory and Development Authority
(IRDA) began its three-day meeting today to finalise guidelines for
the sector on but will tackle sensitive issues tomorrow.
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Aug 29, 2000 - The Minister of State for Finance, Shri Balasaheb
Vikhe Patil has said that the government is committed to reforms in
the insurance sector in order to provide consumer satisfaction.
101.
Sep 14, 2000 - THE INDIAN insurance market has waited more
than five years for liberalisation. As is widely known, the
Government in April 1993 set up a committee on insurance sector
reforms (popularly known as the Malhotra Committee).
103.
Oct 30, 2000 - The granting of the first licences establishes the
success of regulation. Private companies have to prove
themselves. By CRL Narasimhan. On October 23, the Insurance
Regulatory Development Authority (IRDA) issued certificates of
registration to three private companies to undertake
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Dec 12, 2000 - Mumbai, Dec 11: The withdrawal of Centurion Bank
and the Ardee Group from the three way tie-up for entering into the
life insurance sector has forced Canada Life Assurance Co, which
was the third partner in the joint venture, to entirely drop its five
year old plan
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May 10, 2001 - Online general insurance database ... find New
Straits Times articles. Ooi Yu-Liang New Straits Times 05-10-2001
Online general insurance database Byline: Ooi Yu-Li
119.
Jun 28, 2001 - Software for insurance industry ... find New Straits
Times articles. Subashini Selvaratnam New Straits Times 06-28-
2001 Software for insurance industry Byline: Subash
121.
Oct 22, 2001 - c) private and foreign firms would indulge in reckless
profiteering and skim the `urban cream' market, and ignore the
rural areas. Insurance is a Rs 400 billion business in India and,
together with banking services, contributes to about 7 per cent of
GDP.
123.
Nov 13, 2001 - The founders of ING Vysya Life Insurance will inject
fresh capital into the two-month-old Indian company next year to
boost growth, an official said on Monday. The company, which has
equity capital of Rs 1.1 billion, is 26 per cent owned by Dutch
financial services group ING.
125.
Nov 23, 2001 - NEW DELHI, Nov 23 Asia pulse - India's Insurance
Regulatory And Development Authority (IRDA) today said general
insurance claims must be settled within seven days, beyond which
insurance companies will have to pay annual rate of interest of 10
per cent on the claim amount.
127.
Dec 31, 2001 - Paving the way for a new paradigm, the Insurance
Regulatory and Development Authority will bid sayonara to New
Delhi this year but not to reforms, which is intended to make Indian
insurance market comparable with the best in the world.
129.
2002 Jan 24, 2002 - Cricket captain Steve Waugh will be brand
ambassador for Australian financial services group AMPs joint
venture with Sanmar Assurance of Chennai. After a video link with
Sanmar yesterday, Waugh announced that he will help launch the
brand and be involved in the marketing activities
131.
Feb 14, 2002 - NEW DELHI, Feb 14 Asia Pulse - The Insurance
Regulatory and Development Authority today pressed for the
passage of bills to convert General Insurance Corporation (GIC)
into National Reinsurer and allow brokers in the emerging sector in
the Budget session.
133.
Mar 22, 2002 - New Delhi: : With one of the lowest insurance policy
densities in the world, India is a market waiting to be explored, and
Indian and foreign banks, insurance companies and financial
institutions should concentrate on innovative products, pricing,
promotion and distribution strategies
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2003 Jun 13, 2003 - New Delhi June 12. The United States Agency for
International Development (USAID) will provide a $ 10 million
technical aid for development of Indian insurance sector over the
next four years. Bearing Point, formerly known as KPMG
Consulting, was awarded the contract on May 27
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Sep 22, 2003 - AT the turn of the century, the insurance sector,
once the domain of State-run insurance companies was thrown
open to private enterprise on December 7, 1999, with the
introduction of the Insurance Regulatory and Development
Authority (IRDA) Bill.
147.
Oct 23, 2003 - INDIA - Millea Holdings Inc (MH) planned to raise its
stake to ##% from ##%, by acquiring a ##% stake in IFFCO-Tokio
General Insurance Co Ltd, a joint venture between Indian Farmers
Fertilizers Cooperative Ltd and Tokio Marine & Fire Insurance:
Mergers & Acquisitions, Deal Snapshot.
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Sep 13, 2004 - THE PROPOSAL to raise the level of foreign direct
investment in the insurance sector from 26 per cent to 49 per cent
has, as expected, caused some concern among trade unions.
However, with near unanimity among major political parties on the
issue, the proposal is likely to be ...
From Foreign Direct Investment in insurance - Related web pages
www.hindu.com/2004/09/13/stories ...
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2005 Apr 13, 2005 - RIYADH, 13 April 2005 — Visiting Indian Finance
Minister P. Chidambaram formally announced on Monday night the
setting up of a SR100 million Saudi-Indian insurance venture. The
Saudi Ambassador to India Saleh M. Al-Ghamdi, a prominent
Saudi investor in the venture Fawaz A. Abdulaziz ...
From SR100m Saudi-Indian Insurance Venture Set Up - Related
web pages
www.arabnews.com/?page=6§ion=0&article ...
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Aug 12, 2005 - Economic Times (New Delhi, India); August 3, 2005
; 700+ words ... ... largest in Indian insurance history -- insurance
companies say that they are equipped to settle ... financial losses
can be recovered from insurance companies. With bad weather
continuing for . ...
From Article: Flood and after: Non-life companies told to add it all
up. - … - Related web pages
www.highbeam.com/doc/1G1-135152014.html?refid ...
165.
Sep 22, 2005 - HURRICANE Katrina that had wreaked havoc in the
US is beginning to have its effect far away. The Indian insurance
market is beginning to feel the ripples with global reinsurance
premium hardening. Indian insurers are finding it hard to negotiate
lower reinsurance rates in the global ...
From Post-Katrina, Indian insurers faced with high re-insurance
premium - Related web pages
www.thehindubusinessline.com/bline/2005/09/22 ...
167.
2006 Jan 16, 2006 - NEW DELHI, Jan 16 Asia Pulse - In line with the
government's resolve to revamp the agriculture sector to achieve
higher GDP growth, insurance companies too are chipping in with
innovative products that promise to standby farmers in times of
distress like floods or cyclones. ...
From ANALYSIS - INDIAN INSURANCE FIRMS TO RENEW
PUSH ON FARM … - Related web pages
www.accessmylibrary.com/premium/0286/0286 ...
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Feb 19, 2007 - Feb. 19--NEW DELHI -- North Block is preparing a
red carpet welcome to London-based Lloyd's, the world's largest
society of underwriters. The finance ministry has proposed to
suitably amend the Insurance Act to facilitate Lloyd's entry into the
Indian insurance market. ...
From Lloyd's set to enter the Indian market. - Related web pages
www.accessmylibrary.com/premium/0286/0286 ...
179.
Mar 26, 2007 - Most private insurance companies in India are joint
ventures with a foreign partner and this has helped Indians enter
the global arena. Mumbai March 25 For Mr Binayak Dutta,
accepting the offer to be CEO of Prudential Assurance in Vietnam
was all about `getting out of the comfort zone' ...
From Indian insurance executives go global - Related web pages
www.thehindubusinessline.com/bline/2007/03/26 ...
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Jul 30, 2007 - 30 Jul 2007, 1300 hrs IST, PTI. DUBAI: Two Indian
insurance companies -- Life Insurance Corporation of India (LIC)
and New India Assurance have entered into a contract with Saudi
Arabia's Al Hokair Group to make their services available in the
kingdom. ...
From Indian Insurance cos to launch services in Saudi - Related
web pages
economictimes.indiatimes.com/articleshow ...
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2009 Dec 10, 2009 - In October, the Indian life insurance Industry
clocked a double-digit growth (first time in the last 12 months) of
35.7% year-on-year (yoy) in the total annual premium equivalent
(APE). The growth was largely contributed by strong inflows in first-
year premiums. ...