Thegrio Politics
@thegriopolitics·150K subscribers·8.3K videos
North Carolina Mutual Life Insurance Company Formed in 1898
Posted
October 21, 2021
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2,503
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October 21, 2021
2,503
81
10
3.64%
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2:15Now PlayingOn Oct. 20, 1898, John Merrick and six other Black investors gathered to create the North Carolina Mutual Life Insurance Company.
The firm allowed Blacks in the Durham area for the first time to purchase life insurance. It eventually evolved to provide other crucial financial services that helped foster the economic prosperity of Blacks in the city.
Shortly after its founding and incorporation, the firm became the world’s largest Negro insurance company and one of the most influential Black businesses in history. Today, North Carolina Mutual Life Insurance Company still operates in Durham, serving thousands of clients across the country, with a net life insurance value of $14.3 billion.
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