Under his influence, the European-created Oriental Life Insurance Company (later reconstructed as New Oriental Insurance Company in 1834) began to underwrite Indian lives, which was the first life insurance company on Indian soil. He was among the founders of the Bank of India, and was on the board of the Agricultural And Horticultural Society of India. In time, he amassed as much wealth as Dwarkanath Tagore and Rustomjee Cowasjee. In 1878, Kishori Chand Mitra delivered a lecture on the life of Seal calling him the "Rothschild of Calcutta". Pandith Sivanath Sastri wrote: "He never adopted unfair means for earning money. He was well-behaved, polite and helpful to others."