Incorporated on May 29, 1850,[1] The Manhattan Life Insurance Company is a life insurance company domiciled in New York but operates as a subsidiary of Manhattan Insurance Group in Houston, Texas. In 1894 the company built the first skyscraper in New York, and the tallest building in the world.[2][3] It was sold off by the company in 1926.[4]Between 1984 and 1986 the parent company moved from a mixed stock and policy holder model to a full stock ownership, moving Manhattan Life Insurance Company into the model with them.[5] The company was formerly a subsidiary of the Manhattan Life Corporation.[6]A 2002 lawsuit was filed in New Jersey on behalf of Richard E. Barber, Sr., a former deputy executive director of the NAACP, naming New York Life Insurance, Brown Brothers Harriman & Co. and Norfolk Southern Corp. He brought the lawsuit which demanded reparations for profits made by insurance companies during the slave trade.[7]Though Manhattan Life did not insure slave-ships, records exist to show that they did insure one shipment of Chinese "coolie" laborers with three other insurance companies. The minutes of the Board meetings during this period indicate heated discussions as to whether or not the risk should be taken.
Incorporated on May 29, 1850,[1] The Manhattan Life Insurance Company is a life insurance company domiciled in New York but operates as a subsidiary of Manhattan Insurance Group in Houston, Texas. In 1894 the company built the first skyscraper in New York, and the tallest building in the world.[2][3] It was sold off by the company in 1926.[4]Between 1984 and 1986 the parent company moved from a mixed stock and policy holder model to a full stock ownership, moving Manhattan Life Insurance Company into the model with them.[5] The company was formerly a subsidiary of the Manhattan Life Corporation.[6]A 2002 lawsuit was filed in New Jersey on behalf of Richard E. Barber, Sr., a former deputy executive director of the NAACP, naming New York Life Insurance, Brown Brothers Harriman & Co. and Norfolk Southern Corp. He brought the lawsuit which demanded reparations for profits made by insurance companies during the slave trade.[7]Though Manhattan Life did not insure slave-ships, records exist to show that they did insure one shipment of Chinese "coolie" laborers with three other insurance companies. The minutes of the Board meetings during this period indicate heated discussions as to whether or not the risk should be taken.
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