Atlantic Mutual Insurance Company: The Atlantic Mutual Insurance Company, a component of the Atlantic Mutual Companies alongside Centennial Insurance Company, was a mutual insurance entity providing personal, marine, commercial property, and casualty insurance. The company’s headquarters were located at 140 Broadway, near the World Trade Center.
Historically, Atlantic Mutual was known as a property and casualty insurance company. Its services typically included various insurance products related to property and casualty risks, such as:
- Commercial Insurance:
- Providing coverage for businesses against risks like property damage, liability, and other commercial exposures.
- Personal Insurance:
- Offering insurance coverage for individuals, including homeowners insurance, renters insurance, and personal liability coverage.
- Specialty Insurance:
- Some insurance companies, including Atlantic Mutual, may have offered specialty insurance products tailored to specific industries or unique risks.
- Workers’ Compensation:
- Providing coverage for employers to protect against the costs associated with workplace injuries and illnesses.
- Risk Management Services:
- Assisting businesses in identifying and mitigating risks to prevent potential losses.
Atlantic Mutual was a prominent property and casualty insurance company in the United States.
Historical Overview:
Foundation and Early Leadership: Established in 1838 as the Atlantic Insurance Company, it transitioned from a joint-stock to a mutual company on April 11, 1842. Walter Restored Jones, a prominent figure from an esteemed legal family in New York City, served as its first chairman, with the Jones family overseeing the company for an extended period.
Prominence in the 1850s: By the 1850s, Atlantic Mutual emerged as the predominant marine and general insurance firm in North America, holding a unique position as the sole marine insurance firm in New York state. It experienced substantial profitability during this period.
Civil War and Contributions: During the Civil War, Atlantic Mutual played a vital role as the primary insurer for most Union shipping. In 1874, the company’s President John Divine Jones played a pivotal role in establishing the permanent foundation of the New York Historical Society.
Succession and Growth: Leaders like William H. H. Moore, Anton A. Raven, and Cornelius Eldert contributed to the company’s success in various capacities. In 1930, Walter Wood Parsons assumed the presidency, succeeded by William D. Winter in 1934.
Mid-20th Century Developments: Notable leaders like J. Arthur Bogardus and Franklin B. Tuttle shaped the company’s trajectory. The construction of the 45 Wall Street building in 1959 marked a significant event, serving as Atlantic Mutual’s headquarters until the mid-1970s.
