Standing by You. Since 1850.

Our founding 175 years ago was the response by civic-minded visionaries stepping up to address a tragic cholera epidemic gripping New York.

Born to Meet the Moment.

To be sure, the Manhattan Life Insurance Company of New York was established as a business. Shareholders received a return on their capital, but the founders prioritized the interest of policyholders—widows and orphans, specifically. 

This was a new idea. Under our guaranty capital model, one-eighth of net profits would be distributed to stockholders, with the rest going to policyholders. We were built to provide affordable insurance products to ensure the financial security of the dependents left behind. We still are.

And All the Moments that Follow.

With a long streak of independence, we were responsible for many industry firsts. To protect policyholders, we introduced the incontestability clause 40 years before it became a U.S. law. After the Civil War, we located surviving Southern policyholders to pay claims that the federal government told the industry to ignore.

We echo that independence today. In the past decade, the government has twice tried to limit health insurance benefits. Both times, we were the only company in the industry to fight back. It was a big risk and cost a good deal to litigate, but we won both cases.

At the time, I wasn’t sure if it was the wise thing to do, but it was the right thing to do. It resonated with policyholders and producers alike. And doing the right thing will always be our bottom line.

Doing the right thing will always be our bottom line.

David Harris
Chairman and CEO
ManhattanLife

A Generational Commitment.

Governments and times inevitably evolve. Since its founding, ManhattanLife has moved into health insurance and annuities. We’ve also turned our attention to acquisitions and reinsurance in response to some of these industry changes, growing our geographic footprint in the process.

With Baby Boomers retiring, there’s a massive generational wealth transfer taking place. We are aggressively expanding our asset management capabilities with new products and people. Our acquisition of Western United Life Assurance Company in 2013 exemplifies our proactive approach to growth, transforming the company's value from $700 million to $2.2 billion.

When we reorganized the company in 2002, we changed the guaranty capital share model, which had endured for 150 years, to a common stock. We also moved the company’s headquarters to Houston. 

But our basic business approach will never change. We will continue to offer producers the kinds of products that are important to them and their clients. Because the times demand it, we’re also upping our game on service quality and digital support.

Always Forward.

Business continuity management also figures into our own agenda. Fortunately, my oldest son Tyler and I can finish each other’s sentences. When he officially takes over, he will carry on that proud tradition with the same defining commitment and promise. 

Doing the right thing carries a lot of momentum.

Illustration of Manhattan Skyline

  • Did You Know?

    In 1863, ManhattanLife introduced the first incontestability clause in the U.S. This protected policyholders from potential loopholes exploited by insurance companies.

  • Did You Know?

    In 1892, ManhattanLife commissioned the first skyscraper in the U.S. Featuring an innovative caisson-type foundation, it towered 400 feet and used enough steel for 100 miles of railroad.

  • Did You Know?

    During World War II, ManhattanLife Home Office employees managed to sell $11 million in victory bonds to support the country’s economy.

  • Did You Know?

    In 1963, ManhattanLife installed its first computer, the GE-225, resulting in the December billing of that year of the Pension Trust Sales Department to be computer-produced.

  • Did You Know?

    In 2000, David Harris, President and Owner of Central United Life Insurance, acquired ManhattanLife, launching an era of expansion and innovation.

 
 
 
 
 

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