North Carolina Mutual Life Insurance Company (Durham, N.C.)

  1. North Carolina Mutual Life Insurance Company (Durham, N.C.)
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North Carolina Mutual Life Insurance Company (Durham, N.C.)

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North Carolina Mutual Life Insurance Company (Durham, N.C.)


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2008

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Oldest currently active African American-owned insurance company in the United States, founded in 1898 and headquartered in Durham, North Carolina.

From the description of North Carolina Mutual Life Insurance Company Archives, 1850-2008 and undated. (Duke University Library). WorldCat record id: 727944850 1898 1919 John Merrick 1919 1923 Dr. Aaron McDuffie Moore 1923 1952 Charles C. Spaulding, Sr. 1952 1958 William J. Kennedy, Jr. 1959 1967 Asa T. Spaulding, Sr. 1968 1972 Joseph W. Goodloe 1972 1990 William J. Kennedy, III 1990 2003 Bert Collins 2004 James H. Speed 1883 The Royal Knights of King David, a fraternal organization, formed by John Merrick, John Wright, W. A. Day, J. D. Morgan, and T. J. Jones to provide insurance for African Americans, chiefly for burials 1898 Inspired by the Royal Knights of King David, North Carolina Mutual and Provident Association founded by John Merrick, Dr. Aaron Moore, P. W. Dawkins, D. T. Watson, W. G. Pearson, E. A. Johnson and J. E. Shepard John Merrick, born during slavery, named first president; Dr. Aaron Moore, first medical director 1899 North Carolina Mutual incorporated by the North Carolina General Assembly, began doing business selling burial insurance 1900 Charles Clinton (C.C.) Spaulding named general manager 1901 Dr. Aaron Moore and John Merrick found the Lincoln Hospital in Durham to serve African Americans, with Moore as its first superintendent 1903 First full-time insurance agents hired Launch of first internal publication: The North Carolina Mutual NCM began to buy lots in Durham and build houses for influx of black workers 1907 NCM began issuing ordinary whole life policies in $100, $200, and $500 face amounts NCM founded and provided capital for Mechanics and Farmers Bank in Durham, to better serve African Americans 1910 Merrick-Moore-Spaulding Land Company formed; as NCM real estate subsidiary, constructed hundreds of low-cost rental houses in African American neighborhoods in Durham 1919 Death of President John Merrick; Dr. A. M. Moore appointed as successor NCM charter amended, changing the name to North Carolina Mutual Life Insurance Company 1920 1921 Dr. Donnell, new director of Medical Department, organized modern medical facilities in new Home Office 1923 C.C. Spaulding became president after the death of Dr. Moore 1943 The Liberty Ship S.S. John Merrick, named in honor of the company's first president, was launched from Wilmington, N.C.; participated in the invasion of France in June 1944, making many voyages ferrying troops, tanks and supplies between English ports and Utah Beach; returned to Brooklyn, New York, April 1945 1948 North Carolina Mutual marked its golden anniversary, producing short film, Success Story 1950 The company reached its goal of having $200 million of life insurance in force 1952 William J. Kennedy, Jr. appointed president after the death of C. C. Spaulding 1959 Asa T. Spaulding appointed president after William J. Kennedy, Jr.'s retirement from the office 1960 Director of Medical Department, Dr. Donnell, retired, succeeded by Dr. Charles Watts 1966 The company dedicated its headquarters on Chapel Hill Street with Vice President Hubert H. Humphrey as the keynote speaker 1967 The Board of Directors established the Merrick-Moore-Spaulding National Achievement Award 1968 Joseph W. Goodloe became president after Asa T. Spaulding's retirement from the office 1971 NCM broke into Billion Dollar League by having more than one billion dollars of insurance in force 1972 William J. Kennedy, III became president after Joseph Goodloe's retirement from the office 1983 Opening of the Heritage Room, a pictorial exhibit of the company's history 1986 The company forms NCM Capital Management Group, Inc. to expand its presence in the financial arena and to diversify its business and investment mix 1987 Director of Medical Department, Dr. Charles Watts, retired, succeeded by Dr. John Daniel, Jr.; several years later, Medical Department is discontinued 1990 Bert Collins appointed president and CEO after William Kennedy III's retirement from the office 1995 Board member Thelma J. Smith was named chair of the audit committee; first woman to head a major NCM committee 1997 NCM licensed to operate in 22 states and the District of Columbia with offices in 11 states and Washington, D.C., and more than $9 billion of insurance in force 1998 NCM celebrated its centennial anniversary 2004 James H. Speed, Jr. appointed president and CEO after Bert Collins' retirement from the office From the guide to the North Carolina Mutual Life Insurance Company Archives, and undated, bulk 1898-2008, 1850-2008, (David M. Rubenstein Rare Book & Manuscript Library, Duke University University Archives, Records and History Center, North Carolina Central University)

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Advertising


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African American business enterprises


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African Americans


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Life insurance


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North Carolina

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Durham

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North Carolina--Durham

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Durham (N.C.)

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http://n2t.net/ark:/99166/w66x7znr

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