Entries in Insurance

Rauh, Frederick
Frederick Rauh was one of the leading German-Jewish insurance magnates in nineteenth-century America. His firm, Frederick Rauh & Co, founded in 1872, was among the oldest general insurance companies in the United States before its purchase by Acordia in 1994. Continue Reading »
Scheffer, Albert
The life and career of Albert Scheffer, a St. Paul, Minnesota, businessman, is entwined with the financial development of the Upper American Midwest in the latter nineteenth century. He founded numerous banks and companies with great hope but eventually closed them with much sorrow. However, Scheffer was more than just a businessman. During his long career, he also became deeply involved in civic affairs in St. Paul, in local and state politics, in the fraternal affairs of Civil War veterans, and in caring for his extended family. Continue Reading »
Wesendonck, Hugo
Hugo Wesendonck was born into a merchant family in the Prussian Rhineland. He worked as a lawyer before his involvement in the ill-fated Frankfurt Parliament, the first attempt to build a democratic government for a unified Germany, forced him to seek asylum and take up commercial activities in the United States. His entrepreneurial ambitions there were informed by the needs of German immigrants and in 1860 he helped to found the Germania Life Insurance Company in New York City, a corporation still operating under the name Guardian Life Insurance in the present. While the company picked up a timely trend in the financial sector, Wesendonck spotted in the life insurance business a way to manifest an ethnicity-based idea of security that served the sovereignty of a transnational community of German people. Continue Reading »