In 1810 The African Insurance Company was created with offices located at 159 Lombard Street in Philadelphia, Pennsylvania.  It was the first African American-owned insurance company in the United States. The first president was Joseph Randolph while Cyrus Porter was treasurer and William Coleman was its secretary. The establishment of an insurance company by African Americans was a natural progression from beneficial societies that had emerged just after the American Revolution.

For the complete article go to the link below

blackpast.org