Globally, the history of general insurance can be detected back to the early culture. Because the events of losses have increased with the development of culture, slowly bringing the idea and concept of distribution of damage and losses. Historical facts show that by their cooperative people, Aerians reduced profits of profits. Mediterranean merchants also practiced the insurers by the issue of insurance bonds at the same time of the 4th century BC, which is an advance of money in the ship during the trip to the arrival of the ship. Manu’s code also suggests the practice of coastal insurance with their counter parts in SriLank, Egypt and Greece. Marine Insurance is the oldest only insurance in England in the early 12th century. Early transactions of insurance today can be found to announce the 14th century announcement in Italy today. The entire general insurance, developed with the industrial revolution in the West and developed with development as a result of seafront trade and commerce in the seventh century. In India, the proof of insurance in some forms can be found in the beginning of Aryan period. British and other foreign insurance companies violated the insurance business in India by their agencies. In India, the first general insurance company Triton Insurance Company Ltd, has the main share of British British established in Calcutta in 1850. The first general insurance company by Indian promoters is Indian Mercantile Insurance Company Ltd. In 1906-07, Bombay started. After the first World War, some foreign insurance companies started insurance business in India, occupied about 40 percent of the insurance market in India at the time of freedom. Insurance business in India is governed by the insurance act of 1938, which was later updated in 1969. However, in 1971, under the General Insurance Act, under the General Insurance Act, to ensure extensive and healthy growth through the government. After that 107 companies were brought under the agis of India’s general insurance corporation (GIC). Thus GIC has handed over with its four subsidiaries in India with simple and healthy conduct responsibility of the general insurance business in India with its four subsidiaries.



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