Which organization founded in 1762 is widely regarded as the world's first mutual life insurer?

The Society for Equitable Assurances on Lives and Survivorships, founded in 1762, is widely regarded as the world’s first mutual life insurer.

The society was established in London during a period when life assurance was becoming more mathematically organized. Its founders included mathematician James Dodson’s associates, who used age-based calculations to set premiums more systematically than many earlier arrangements.

The organization introduced important practices associated with modern life insurance, including premiums based on the insured person’s age and the use of mortality information. It also became known as Equitable Life, although that later name should not be confused with every company using “Equitable” in its title.

The Amicable Society, founded in 1706, was an earlier life-assurance organization, but its structure and benefits differed from the modern mutual model. That distinction is why Equitable is commonly identified as the first modern mutual life assurance society.