The Afro-American Life Insurance Company was a historic business based in Jacksonville,

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...

. It was founded in 1901 by

Abraham Lincoln Lewis Abraham Lincoln Lewis (1865–1947) was an influential United States, American businessman who founded the Afro-American Life Insurance Company in Jacksonville, Florida and became the state's first African-American millionaire. He also founded the N ...

and his business associates. The company specialized in helping Black Americans obtain life insurance and mortgages.

Background

Up until the creation of this insurance company, black Americans found it difficult to purchase

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

, 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 American Beach is a historic beach community in northeastern Florida once popular with African-American vacationers. It is located north of Jacksonville on Amelia Island in Nassau County. During the time of segregation and the Jim Crow era, Afri ...

Nassau County, Florida Nassau County is the northeasternmost county of the U.S. state of Florida. According to the 2020 United States Census, the county's population was 90,352. The county seat and the largest incorporated city is Fernandina Beach. Nassau County is ...

. With strong competition from other insurance companies in the mid-20th century, the Afro-American Life Insurance Company closed 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.

References

Financial services companies established in 1901 Financial services companies disestablished in 1990 Buildings and structures in Jacksonville, Florida Insurance companies based in Florida Life insurance companies of the United States Companies based in Jacksonville, Florida Defunct companies based in Florida 1901 establishments in Florida 1990 disestablishments in Florida African-American history in Jacksonville, Florida {{US-finance-company-stub