Atlanta Life Insurance Achieves Legal Reserve Status

In 1922, Alonzo Herndon's company was reorganized as the Atlanta Life Insurance Company and achieved legal reserve status, a financial standard met by only four other Black-owned insurance companies at the time. The company rapidly expanded into six new states during the 1920s, making it one of the largest and most important Black-owned financial institutions in the United States and Herndon Atlanta's wealthiest Black citizen by the time of his death in 1927.