Now the facts that answer the puzzled question, as to how Negroes have always been able to “get along” generally under all circumstances, are the insurance companies, fraternal orders and beneficial societies founded and operated by Colored people in America. There is nothing in the world (including death) that the average Colored people dread more than to face downright poverty, need and beggary, and to prevent such misfortunes they become full members in these organizations even from childhood. For this reason insurance enterprises have proven to be one of the most congenial occupations, quickest, surest and best paying business into which Negro business men have so far ventured. On the other hand the founders and managers of these companies have taken full advantage of their opportunities to give to the masses of people in their companies a timely, practical and material helpfulness that is surpassed by no other group of Colored business leaders.
Philadelphia, Pa., has the honor of having been the home of the first Negro insurance company, in the United States, which was the American Insurance Company founded in 1810.
The following named are a few of the many Colored insurance companies throughout the country that together have policies in force valued at about sixty million dollars and annually write up insurance amounting to about forty million dollars.
Afro-American Industrial Ins. Co., Jacksonville, Fla.; American Mutual Benefit Association, Houston, Tex.; Georgia Mutual Ins. Co., Augusta, Ga.; Keystone Aid Society, Phila., Pa.; Liberty Life Ins. Co., Ill. and Ind.; Liberty Mutual Life & Health Ins. Co., Savannah, Ga.; Mammouth Life and Accident Ins. Co., Louisville, Ky.; Mutual Relief and Benevolent Ass’n, Columbia, S. C.; National Benefit Life Ins. Co., Washington, D.C.; North Carolina Mutual and Provident Ass’n, Durham, N. C.; Fireside Mutual Ins. Co., Atlanta, Ga.; Provident Ins. Co., Chicago, Ill.; Southern Life Ins. Co., Baltimore, Md.; Standard Life Ins. Co., Atlanta, Ga.; Superior Mutual Ins. Co., The Lincoln Life Ins. Co., New Orleans, La.; Underwriters’ Mutual Ins. Co., Chicago, Ill.; Union Central Relief Ass’n, Birmingham, Ala.; Union Mutual Ins. Co., Jacksonville, Fla.; Unity Ind. and Life Ins. Co., New Orleans, La.; Unity Mutual Ins. Co., Chicago, Ill.; Union Guarantee and Ins. Co., of Miss., Jackson, Miss.; Richmond Beneficial Ins. Co., Richmond, Va.; Southern Aid Society of Virginia, Richmond, Va.; Virginia Beneficial and Ins. Co., Norfolk, Va. (Extracts from Works’ Negro Year Book, 1918-1919 edition, pgs. 359-60).