The Canton-based life insurer is planning a year-long series of events in 2016 to celebrate
Not many companies make to 125: Boston Mutual Life Insurance Company, however, is one of them. The Canton-based life insurance company, founded in Boston in 1891, will commemorate its 125th year by hosting a variety of initiatives to honor this milestone.
We’re proud of our enduring success for the past 125 years and we’re looking forward to honoring our achievements with this year’s celebrations,” said Paul A. Quaranto, Jr., President and Chief Executive Officer. “We’ve been committed to providing exceptional service to our producers and policyholders for more than a century, and we remain loyal to that promise as we enter 2016.”
The life insurer debuts a new logo celebrating its history
One of the first things Boston Mutual did to kick off this year’s celebrations included the debut of a new commemorative logo. The logo, along with the year of activities planned by the life insurer are all focused on celebrating the history of the company.
Some of the historical themed events include a time capsule and a monthly internal newsletter designed to mirror its first edition from the turn of the century. In May, the company will hold its annual General Agencies sales convention in Boston as a tribute to the city of its origin. In addition, the life insurer has planned activities during the month of August, which is the month the company was founded.
Both Boston Mutual and Ben Franklin were born at the same location
Founded by John Wheeler on August 18th, 1891, Boston Mutual was first known as the Boston Mutual Life Association. The company’s first home was located at the illustrious 17 Milk Street in Boston, better known as the birthplace of Benjamin Franklin.
This seems like a most appropriate location in which to start a mutual insurance company, since Ben Franklin was one of the earliest proponents of mutual insurance. He went on to found the first mutual insurance company in Philadelphia in 1752.
Over the years, the company operated out of a number of offices in and around downtown Boston, until moving to Canton in 1974.
After first offering individual life insurance, the company began offering employer group products in 1956 and in 1978, it began its worksite product offering. Ten years later, in 1988, the life insurer organized the Life Insurance Company of Boston & New York (LICOBNY), a subsidiary company which offers a comparable product portfolio in New York.
While celebrating its local roots, the life insurer has expanded its geographical reach over the years and now does business from coast to coast. The 125-year-old company currently insurers more than 732,000 individuals with over $18 billion in life insurance. Most interestingly of all, however, might be the fact that although Boston Mutual has been in business for 125 years, the life insurer has had a grand total of only seven different presidents throughout its history.