A Humble Start 

Imagine it is Wednesday, May 29, 1850. A young New York City skyline stands proudly in the distance. Where the Atlantic meets the harbor, water ripples are flattered by a bright morning sun, appearing like jagged crystals flanking a great castle and the village surrounding it. A closer look brings the hum of various boats approaching the docks, trailed by whistling from a large ship as it enters port. Soon we see unpaved streets with people in their 19th century fashions bustling about, headed to work, home or a shop. Horse-drawn carriages weave their way down a thoroughfare, disturbing the dirt, while dodging pedestrians and eager paperboys selling their latest inventory. Then, not too far ahead, in a presumably tidy office, L.S. Chatfield, Attorney General for the State of New York, issues a certificate which decrees The Manhattan Life Insurance Company is approved to commence operations. This marks the auspicious, if quiet beginning of an extraordinary legacy and an unwavering commitment that still fuels the organization today. 

Our nascent period was indeed humble, as for at least two months, the company had no office space, no officers had been chosen, and no employees hired to transact the anticipated business. What was largely in place, however, was a dream and a great dedication to it. 

Before long, officers were elected to begin initiating business for the company and seek prospective policyholders. Then on August 1, 1850, The Manhattan Life at last opened its physical doors to the public. Christopher Y. Wemple, the company’s first Secretary, worked alongside our first President, Alonzo A. Alvord, and original Board of Directors members, to acquire furniture, quill pens, and other necessary items. Our first address was 108 Broadway, at the corner of Pine Street. Policy No. 1 was issued on Mr. Wemple’s life in the amount of $2,000.00. Today that would equal $80,924.36. 

Strong Ambition 

Employees wasted no time devising products with real purpose behind them and making The Manhattan Life a distinguished organization. We were the first insurance company to issue an Accident & Accidental Death policy to a woman and the first to issue a Group policy, which involved several sailors aboard the record-setting vessel Sea Witch. In 1864, the company began incorporating incontestability clauses into its policies, which eventually became law. 

The years 1861 to 1865 were tumultuous, as The Civil War unfolded in certain parts of the United States. Naturally, many policyholders were unable to pay premiums as they were preoccupied with harrowing battles that impacted their livelihoods. So, in 1865, following the end of the war and President’s Lincoln’s passing, The Manhattan Life sought out policyholders and paid claims which occurred during the war years. In cases where policies had lapsed, policyholders were given the opportunity to reinstate their policies without examination. Where policyholders had died, the company paid all claims just as if all premiums had been paid. Soon, the company developed a reputation and earned the moniker “The Old Reliable”, a term often found in policyholders’ correspondence to general agents or the Home Office. 

In 1894, due to significant business growth, we commissioned one of America’s first skyscrapers, just before the automobile made its way onto roads. This incredible eighteen- story building cast a shimmering shadow across Broadway and embodied the new heights our company had reached. We were primed for the next century.

 Wisdom and War 

The early 1900s introduced a cavalcade of changes for The Manhattan Life Insurance Company, while the world at large underwent considerable strife. The start of World War I in 1914 spawned new obstacles that required immediate adaptation. As heroic U.S. troops entered the struggle in 1917, the company was busy taking its own action. By the end of the conflict a year later, leading executives had decided to issue extra premium refunds for war-risk coverage paid during wartime. 

During these more difficult eras, company employees worked tirelessly to promote business and uphold the organization’s principles. One of those standout employees was Harvey R. Halsey, Senior Assistant Secretary, who was gifted a beautifully crafted cup for his fiftieth anniversary at the company in 1932. But, in 1935, as part of an effort to support morale and incentivize additional sales, Halsey returned his cup to the company, where it would act as a kind of trophy. For a period thereafter, the agency with the highest production would win the coveted cup. Yet the agency would still need to win the cup for three consecutive years to retain permanent possession of it. 

Business was indeed booming. The company even withstood the financial constraints crippling much of the U.S. throughout The Great Depression, which spanned from 1929 until 1939. The Manhattan Life had the ability to assist one other life insurance company in meeting their cash requirements by taking over some of its mortgages. Incredibly, in 1930, the total insurance in force surpassed an all-time high of $101 million. But as the decade wore on, the volume of new business began to dwindle. 

Renewed Promise 

Just twenty-one years passed before many countries became embroiled in World War II. During this historic period, The Manhattan Life Home Office employees managed to sell $11 million in victory bonds to support our country’s economy. In February of 1946, the company even reached an impressive milestone, when its records showed $150 million of insurance in force, which equates to roughly $2.4 billion today. 

By the 1950s, the United States had successfully reached a degree of stability and enjoyed some incredible progress. After all, this was the decade that brought an economic boom, launched The Space Age, and saw a meteoric rise of television sets in American homes. Meanwhile, The Manhattan Life celebrated its 100-year anniversary by hosting a black-tie gala in the Sert Room at the famed Waldorf Astoria. Two-hundred and thirty-five guests attended the lavish soirée, ten of which were Home Office employees that happily donned 1850s fashions. Everyone was entertained with music from the era performed by the Raseley Singers. Then, for an added touch of nostalgia, each guest received an 1850 penny, minted in the same year the company was founded. 

That concludes the company’s first 100 incredible years! Stay tuned for Part 2, covering the next 75 years.

We are thrilled to celebrate ManhattanLife’s 175 years of business in 2025! Throughout the year, we will showcase the company’s storied past, current developments, and our future outlook. ManhattanLife’s new emblem, shown below, centers entirely on the torch’s flame, with a teal arch signifying light that is as continuous as we are. 

For an abridged version of our history, visit the 175^th anniversary landing page.