North Carolina Mutual Life Insurance Company

Since this is a black history section, let’s go back in time now to 1898, when North Carolina Mutual Life Insurance Company was founded by a group of black social leaders who pooled their own resources to create an insurance company for the undeserved African-American community.

One of those founders, John Merrick, was born into slavery and then built up a successful barbershop business with branches throughout the Durham area before moving into insurance.

North Carolina Mutual was the largest black-owned business in the U.S. for much of the 20th century and is still thriving today, with assets of over $160 million, according to Wikipedia.

north carolina mutual insurance company

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