Atlanta Life Celebrates Juneteenth with Inaugural Legacy Cup Event

For the first time, Atlanta Life Insurance Co. (ALIC) will celebrate Juneteenth in Georgia’s largest city with a financial commitment and community event.

Billing itself as the last black-founded and black-owned insurer in the country, Atlanta Life is investing $15,000 to host its first “Legacy Cup” in the Atlanta suburb of Buckhead on June 19. The company says the community event will be open to everyone. 300 people and includes entertainment, food, drinks and other activities to honor the party.

The company shared with BLACK BUSINESS that his goal is to raise $15,000 and hopefully more to donate to Booker T. Washington High School for after-school programs.

EVENTS NEEDED TO CELEBRATE TENTH AND BLACK HISTORY

“There is a need for more events to celebrate Juneteenth, and we want to make it an annual event that people look forward to,” says Paige Fenn, director of community and public affairs for Atlanta Life. “This will be an opportunity to highlight black history and our culture through quizzes and provide a space to party with purpose.” » The plan is to promote the event on Instagram and LinkedIn.

Atlanta Life proclaims its greatest connection to Juneteenth, derived from the freedom of African Americans. In fact, according to its website, the company has defined the principles of crowdfunding capitalism and diversity, equity, and inclusion for over a century.

Atlanta Life was founded in 1905 by Alonzo F. Herndon, a former slave who watched families with no savings bury their lost loved ones. According to its website, ALIC has become a vehicle for protection, generational financial security and professional employment for the nation’s most at-risk citizens.

FREEDOM HELPED BLACK AMERICANS FLOURISH

With his freedom, Herndon would become Atlanta’s first black millionaire while helping many other members of the community. “Mr. Herndon saw

the need for life insurance at a time when black lives were being cut short due to racism and horrible conditions,” Fenn shared via email. “His actions have provided better options and respite to families in the worst of times. »

She emphasized that Juneteenth is an occasion to celebrate the freedom of former slaves and should also be seen as a movement to commemorate what followed that freedom. “At Atlanta Life, we want to continue to honor the hard work, vision and courage of our founder, and Juneteenth also allows us to highlight the accomplishments of others in the Black community.”

BLACK INSURERS, AMONG THE LARGEST COMPANIES IN THE NATION

Atlanta Life was among those listed on the BE 100 list of the largest black-owned businesses in the country for several years. Others included North Carolina Mutual, Golden State Mutual and Booker T. Washington Insurance. Yet market developments and other headwinds in recent decades are among the factors that have contributed to the failure of black insurers.

Courtney Johnson, vice president of Atlanta Life, says the insurer has become a symbol of protection, generational security and economic empowerment. “Today, we are proud to continue this legacy as a successful group reinsurance company dedicated to ensuring the financial stability and growth of our community.

POSITIONED FOR BUSINESS GROWTH

In October 2023, Atlanta Life relaunched with the help of NBA legend and entrepreneur Earvin “Magic” Johnson. According to a press release, Atlanta Life Holdings, a minority-owned insurance holding company, acquired the insurer. Additionally, Magic Johnson’s EquiTrust insurance company has partnered to support ALIC’s mission to build legacy and wealth in Black communities, according to ALIC’s website.

Company President and CEO Eric Holoman said, “We aim to serve as stewards of the community’s legacy and stewards of its future. »

A historic institution, Booker T. Washington High School could potentially benefit from the goodwill of ALIC. It was supposed to be the first public high school for African Americans in Georgia. “Just like Atlanta Life, it was the first of its kind and now it needs a resurgence,” says Courtney Johnson.

“With our new leadership under Magic Johnson Enterprises, we have had the opportunity to make a fresh start, and our mission is to extend the same opportunity to Washington High School.”

She also explained that ALIC provides essential coverage and helps insurers and governments manage risks, stabilize their finances and establish long-term partnerships.

“Atlanta Life Insurance Company combines its unique social mission with strategic partnerships, reinsurance growth and financial education initiatives to create a positive impact on communities and stakeholders.

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