When Did Insurance First Start. He set up and operated the first assurance agency in 1864, which was a boon for the upper and middle classes. Ministers would contribute to the fund, in exchange for lifetime payments.
Ministers would contribute to the fund, in exchange for lifetime payments. Insurance policies can even be traced all the way back to ancient babylonia when merchants who had loans paid lenders an additional sum to provide a guarantee against losses if their commodities were lost or harmed during shipping. The fire destroyed 13,200 houses.