Multiple choice general knowledge Which was the First Fully Indian Owned Insurance Company? Oriental Insurance Company The New India Assurance Company Life Insurance Corporation of India (LIC) Bharti Axa Life Insurance Company Reveal answer Fill a bubble to check yourself B Correct answer Explanation The New India Assurance Company, established in 1919 by Sir Dorab Tata, was the first fully Indian-owned insurance company. Before this, insurance companies in India were primarily foreign-owned.