” We intend to work as guardians of the neighborhood’s tradition and stewards of its future,” Holoman stated.
The history: Atlanta Life Insurance coverage Co. was established by Alonzo Herndon, who was born into slavery, and his child, Norris Herndon.
The business broadened by obtaining other Black-owned insurance companies. The Rev. Martin Luther King Jr. was among its insurance policy holders.
The business has actually encountered turbulence in the last few years. In 2021, AM Finest devalued its monetary strength ranking to C, from C+, mentioning its weak balance sheet, weak operating efficiency and restricted service profile.
However the ranking firm kept in mind that the business had actually utilized group life reinsurance offers to increase net premium profits.
EquiTrust has a B++ AM Finest ranking.
Eric Holoman. Credit: Atlanta Life