Equitable Society

Japanese: エクイタブル・ソサエティ - えくいたぶるそさえてぃ

...The Roman Empire's burial funds, the sickness and death benefits of medieval guilds, the dowry system of ancient Italy, and the pension facilities of medieval Europe were all precursors of life insurance. In the 17th century, the basis for rational life insurance was laid by the calculation of the present value of a life annuity by J. de Witt of the Netherlands in 1671 and the creation of life tables (also called Harry's life tables or Wroclaw tables) by astronomer E. Harry in 1693. In 1762, the so-called modern life insurance company, the Society for the Equitable Assurance on Lives and Survivorship, was founded in England with premiums differentiated according to age based on the life tables, and began operations in 1764. Many life insurance companies were established after that, and these modern insurance companies improved the rationality of life insurance companies by creating empirical mortality tables based on their own experience, rationalizing premium reserves, and optimizing dividend methods, while at the end of the 19th century they began simple insurance for the masses. ...

From [Insurance]

… Meanwhile, in 1693, astronomer E. Harry created the modern life table. The Equitable Society, founded in 1762, was the first to adopt age-based premiums using mortality rates, and thus created a scientific insurance system. It is said to be the world's first modern life insurance company. …

*Some of the terminology explanations that refer to "Equitable Society" are listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

Japanese:

…ローマ帝政時代の埋葬費金庫，中世ギルドの疾病･死亡給付，古代イタリアの子女婚資給付制度，中世ヨーロッパの年金施設等々は，いずれも生命保険の先駆であった。17世紀に入って，1671年オランダのJ.デ･ウィットによる終身年金現価の算出，93年の天文学者E.ハリーによる生命表(ハリーの生命表，ブロツワフ表ともいう)の作成によって，合理的生命保険の基礎が与えられ，1762年に至って，生命表にもとづき，年齢に従って区別された保険料をもついわゆる近代的な生命保険会社エクイタブル･ソサエティSociety for the Equitable Assurance on Lives and Survivorshipがイギリスで設立され，64年から事業を開始した。　その後多くの生命保険会社が設立されたが，これらの近代的な保険会社は，みずからの経験を基礎とした経験死亡表の作成，保険料積立金の合理化，配当方法の適正化を進めて生命保険企業の合理性を高める一方，19世紀末には大衆のための簡易保険を始めた。…