The Review of Black Political Economy

, Volume 23, Issue 2, pp 25–37 | Cite as

A crumbling legacy: The decline of African American insurance companies in contemporary America

  • Robert E. Weems


African American insurance companies, since the 1960s, have experienced a significant decline in their profitability and stature. Because of recent racial desegregation, which in an economic sense consists of white-controlled businesses and black consumers increasing their interaction with each other, black insurers are waging an increasingly difficult struggle to survive. It appears the only way African American insurance companies can counteract this disturbing trend is to voluntarily merge into one “mega” company. Such a maneuver would empower consolidated black insurers to better serve African American consumers and to make definitive inroads in cultivating the burgeoning African consumer market.


Total Asset Life Insurance Insurance Industry Life Insurance Company Premium Income 
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    See Jesse E. Gloster,North Carolina Mutual Life Insurance Company: Its Historical Development and Current Operations (New York: Arno Press, 1976; reprint of Ph.D. Dissertation, University of Pittsburgh, 1955); Robert C. Puth,Supreme Life: The History of a Negro Insurance Company (New York: Arno Press, 1976; reprint of Ph.D. Dissertation, Northwestern University, 1968); Walter B. Weare,Black Business in the New South: A Social History of the North Carolina Mutual Life Insurance Company (Urbana: University of Illinois Press, 1973); Alexa Benson Henderson,Atlanta Life Insurance Company: Guardian of Black Economic Dignity (Tuscaloosa: University of Alabama Press, 1990).Google Scholar
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Copyright information

© Springer 1995

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  • Robert E. Weems

There are no affiliations available

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