Metro Claims & Risk Mgmt

Posted @withregram@bjw_ins In honor of Black History Month, we’d like to highlight the significance of insurance in black history. Enjoy the compelling stories of black founded companies. 1. North Carolina Mutual Life Insurance Company “[John Henry] Merrick is most remembered...as one of the founders of the North Carolina Mutual Provident Life Insurance Company which eventually became the largest black-owned insurance company in the United States...They shortened the company name to North Carolina Mutual Insurance Company. By 1918, North Carolina Mutual had over $1 million in insurance in force and was at that point the largest black-owned insurance firm in the nation.” (blackpast.org) (Founders pictured above, slide 1) 2. Golden State Mutual (1925) "Golden State Mutual Life Insurance Company, [was] the largest black-owned insurance company in the west, was founded by William Nickerson, Jr., Norman Oliver Houston and George Allen Beavers, Jr...By the end of its first year the company had established an office in Oakland, California, had sold more than $260,000 in policies, and had $6,000 in reserves and a surplus of over $16,000. Within three years Golden State Insurance had over 100 employees including sixty agents...” (blackpast.org) (Old location pictured) 3. Atlanta Life (1905) "More than 100 years ago, Alonzo Franklin Herndon, a former slave, founded what would become the Atlanta Life Insurance Company.” (atlantalife.com) He purchased a struggling insurance company in 1905, and incorporated it as Atlanta Mutual Insurance Company, which had $5,000 in assets at time. By 1922, it had $400,000 in assets. (Founder, Alonzo F. Herndon pictured) 4. The African Insurance Company (1810-1813) "In 1810 The African Insurance Company was created with offices located at 159 Lombard Street in Philadelphia, Pennsylvania. It was the first African American-owned insurance company in the United States. The first president was Joseph Randolph...The establishment of an insurance company by African Americans was a natural progression from beneficial societies that had emerged just after the AmericanRevolution.” (blackpast.org) (Not pictured) #insurance #blackhistory #entre

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