Afro-American Life Insurance Company
Encyclopedia
The Afro-American Life Insurance Company was a historic business based in Jacksonville
, Florida
. It was founded in 1901 by Abraham Lincoln Lewis
and his business associates.
, which was unaffordable to most blacks at the time. The insurance company also served as a financial institution as well. The company is responsible for the creation of American Beach in Nassau County, Florida
.
With strong competition from other insurance companies in the mid-20th century, the Afro-American Life Insurance Company closed its door in 1990. The building located at 101 E. Union Street, which housed the company has been renovated and served as the offices for Congresswoman Corrine Brown
and other businesses.
Jacksonville, Florida
Jacksonville is the largest city in the U.S. state of Florida in terms of both population and land area, and the largest city by area in the contiguous United States. It is the county seat of Duval County, with which the city government consolidated in 1968...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
. It was founded in 1901 by Abraham Lincoln Lewis
Abraham Lincoln Lewis
Abraham Lincoln Lewis was an American businessman. He founded the Afro-American Life Insurance Company in Jacksonville, Florida, and became the state's first African American millionaire...
and his business associates.
Background
Up until the creation of this insurance company, black Americans found it difficult to purchase life insuranceLife insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
, which was unaffordable to most blacks at the time. The insurance company also served as a financial institution as well. The company is responsible for the creation of American Beach in Nassau County, Florida
Nassau County, Florida
Nassau County is a county located in the state of Florida. As of 2000, the population was 57,663. The U.S. Census Bureau 2008 estimate for the county was 69,835. Its county seat is Fernandina Beach, Florida....
.
With strong competition from other insurance companies in the mid-20th century, the Afro-American Life Insurance Company closed its door in 1990. The building located at 101 E. Union Street, which housed the company has been renovated and served as the offices for Congresswoman Corrine Brown
Corrine Brown
Corrine Brown is an U.S. Representative for , serving since 1993. She is a member of the Democratic Party.The district includes parts of Duval, Clay, Putnam, Alachua, Volusia, Marion, Lake, Seminole, and Orange Counties....
and other businesses.