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Central Life Insurance Company of Florida

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Central Life Insurance Company of Florida
FormerlyCentral Life Insurance Co.,
Central Life Insurance Company of Tampa
Company typePrivate
IndustryInsurance
Founded1922
Founder
  • Mary McLeod Bethune,
    George Schroeder Middleton,
    L. A. Howell,
    T. L. Lowrie,
    S. J. Johnson,
    C. H. Norton,
    W. D. Potter
DefunctAugust 27, 1991 (1991-08-27)
FateInvoluntarily dissolved
Headquarters400 North Boulevard,
Tampa, Florida, U.S.

Central Life Insurance Company of Florida (1922 – 1991)[1] was an American insurance company founded by prominent African Americans in Tampa, Florida, U.S.. Established during the Jim Crow era of segregation and discrimination, the company loaned money to Black–owned businesses.[2]

History

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Company founders included Mary McLeod Bethune, George Schroeder Middleton, L. A. Howell, T. L. Lowrie, S. J. Johnson, C. H. Norton (dentist), and W. D. Potter.[3] Bethune served as president from 1951 until her death in 1955.[4][5] In 1978, Edward D. Davis was president.[6]

Central Life Insurance Company of Florida was headquartered at 1400 North Boulevard in Tampa, Florida, and had a former office at Harrison Street and Central Avenue in Tampa;[7][8] and a former office in Jacksonville, Florida, located at 316 West State Street.[9] Other branch offices for Central Life Insurance Company of Florida included Bradenton, Daytona Beach, Lakeland, Miami, Ocala, Orlando, Panama City, Pensacola, St. Petersburg, Tallahassee, and West Palm Beach.

Closure and legacy

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Central Life Insurance Company of Florida was shut down by Florida state regulators on August 27, 1991.[10] The company had failed to modernize, which led to issues financially and with insurance regulators.[10] One of the insurance company's potential investors had failed to provide backing, and around the same time another of their potential investors was accused of defrauding other insurance companies in Florida and had his assets seized by the state.[10]

One of Central Life Insurance Company of Florida's founders, George Schroeder Middleton, had a Black high school named after him in 1934, George Schroeder Middleton Senior High School (now George S. Middleton High School).[11]

The Mary McLeod Bethune Papers: The Bethune Foundation Collection contain resources related to the history of the Central Life Insurance Company of Florida, as well as the Robert W. and Helen S. Saunders papers at the University of South Florida Libraries.

See also

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References

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  1. ^ "Central Life Insurance Company of Florida". Florida Department of State, Division of Corporations.
  2. ^ Craddock, John (April 9, 1991). "Time running out for Central Life". Tampa Bay Times. ISSN 2327-9052.
  3. ^ Jones, Maxine D.; McCarthy, Kevin M. (2014-10-01). African Americans in Florida. Rowman & Littlefield. p. 68. ISBN 978-1-56164-822-1.
  4. ^ "New Office". UF George A. Smathers Libraries. Florida Digital Newspaper Library. The Miami Times. June 16, 1951. p. 1. Retrieved 2024-09-18.{{cite web}}: CS1 maint: others (link)
  5. ^ "A Celebration of American Heroines Who Fought for Women's Voting Rights". Afrik Digest. 2024-04-10. Retrieved 2024-09-18.
  6. ^ "Black Enterprise". Earl G. Graves, Ltd. June 2, 1978. p. 152 – via Google Books.
  7. ^ Steele, Kathy (December 8, 2011). "Florida civil rights matron dies". Insurance News. Tampa Tribune. Retrieved 2024-09-18.
  8. ^ Insurance Almanac and Who's Who in Insurance. Underwriter Print. and Publishing Company. 1988. p. 507 – via Google Books.
  9. ^ Davis, Ennis (December 20, 2023). "Downtown's forgotten Odds Fellows' Hall". The Jaxson magazine. Retrieved 2024-09-18.
  10. ^ a b c McKinnon, John D. (August 28, 1991). "State shuts down insurer". Tampa Bay Times. ISSN 2327-9052.
  11. ^ "Reunion stirs sweet, bitter recollections". Tampa Bay Times. August 19, 1991.
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