LIC Results 2011
Life Insurance in its modern form came to India from England in the year 1818.Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil.All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies.However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives.But Indian lives were being treated as sub-standard lives and heavy extra premiums were being charged on them.
Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates.Starting as Indian enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society.Bharat Insurance Company was also one of such companies inspired by nationalism.The Swadeshi movement of 1905-1907 gave rise to more insurance companies.The United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative Assurance at Lahore were established in 1906.
In 1907, Hindustan Co-operative Insurance Company took its birth in one of the rooms of the Jorasanko, house of the great poet Rabindranath Tagore, in Calcutta.The Indian Mercantile, General Assurance and Swadeshi Life were some of the companies established during the same period.Prior to 1912 India had no legislation to regulate insurance business.In the year 1912, the Life Insurance Companies Act, and the Provident Fund Act were passed.The Life Insurance Companies Act, 1912 made it necessary that the premium rate tables and periodical valuations of companies should be certified by an actuary.But the Act discriminated between foreign and Indian companies on many accounts, putting the Indian companies at a disadvantage.
Life Insurance Corporation of India (LIC) announced Assistant Administrative Officer (Generalist) Posts Written Test Results 2011.
Life Insurance Corporation AAO Recruitment Results 2011.
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