The first insurance company

Insurance in system modernization or as we know today has existed since the Great Fire of London in 1666 that destroyed many homes. Nicholas Barbon, after the disaster, established England's first fire insurance company (The Fire Office) in1680. In the United States, the first insurance company provided the which was formed in fire insurance in South Carolina, in 1732.The practice of perpetual insurance against fire was popularized by Benjamin Franklin. In 1752, he Founded the Philadelphia Contributionship for the Insurance of Houses. In India, the Oriental Life Insurance Company was started in 1818 by Europeans, much before independence.the first indigenous insurance company in India was started in the year 1870 in the form of Bombay Mutual Life Assurance Society.Type of Insurance Company
 
There are two types of insurance companies mainly classified into:1) Life insurance company (those associated with life insurance annuity, and pension products)2) Non-life insurance or general insurance companies

The first category dealing with long-term business, which includes the risk of a person's life pension preformance long period of time. Examples of these insurance companies are: American National Insurance Company in the USA, the Life Insurance Corporation in India, etc.

The second category, a general insurance company usually covers a shorter period, such as for example, American Medical Security Life Insurance Company in USA, Bajaj Allianz General Insurance of India, etc.
 
In addition to these two types of companies Asurasi, along with the development of human life, the types of insurance companies began to develop into some other form such as:

1) Mutual Insurance Company is an insurance company owned by policyholders 
2) The company's shares are insured by the owner of the stock to reduce losses due to stock ownership in the long term. 
3) Company is a reinsurance company that sells insurance policies to other insurance companies are more likely to reduce risk and protect themselves from losses. 
4) Captive Insurance Insurance companies and consultant companies

The concept of the growing insurance to provide convenience and excellent service to customers, more and make more rapid perkambangan insurance company from time to time. In addition, the development of the insurance companies are also due to the nature of human threats of food shortage / food.