Our Story

The year was 1882. Baltimore was the sixth largest city in the 38 United States. A hard-working man could earn $8 or $9 a week. At this time, in an atmosphere of prosperity and change, five businessmen founded the Baltimore Mutual Aid Society of Baltimore City on March 27. Frank Strobridge was elected president. Total assets were $260.93.

In those days most people looked to insurance to banish the fear of burial in a Potter’s Field, not to help a family deprived of a wage earner. The face amount of policies ranged from about $100 to $600 or $700. Premiums ranged from a minimum of five cents to fifty cents a week, at the most.

The first home office was a small brick building, with the office located on the first floor. It was not unusual for an officer, even the president, to sell insurance. But though the work went slowly, it went well, and progress was made.

1882
Baltimore Mutual Aid Society of Baltimore City is founded by five businessmen on March 27.

1884
Directors pass resolution to pay death claims within 24 hours after receipt of satisfactory proofs.
(This action was unusual. Other insurance companies commonly took up to 60 days to settle a death claim. Baltimore Life’s current policy is to pay death claims within seven business days and disability and health claims within 10 business days upon receipt of all necessary documentation.)

1898
The Maryland General Assembly authorizes the Company to become a legal reserve life insurance company.

1900
The directors change the name of the Company to “The Baltimore Life Insurance Company of Baltimore City.”

1930
During the trying days of the Depression, Baltimore Life shows its faith in the future of the country and Baltimore by demolishing its original four-story home office building and erecting a 12-story building in its place.

1981
Baltimore Life forms a stock life insurance subsidiary, Life of Maryland, Inc., which specializes in interest-sensitive products.

1982
Baltimore Life restructures premium collection process to capitalize on personal relationships and reduce collection costs.

1983
The Independent Sales division is established, targeting special markets through independent general agents and other special distribution systems.

1997
The Company’s oldest sales division is reinvented as “Team Advantage.”

Baltimore Life is the first company in the country to develop this entirely new way of marketing life insurance by spreading the traditional responsibilities of an agent across a team.

Worksite Marketing sales division is formed, targeting sales at the workplace.

1998
Baltimore Life merges with Home Mutual Life Insurance Company, a 114-year old, Baltimore-based mutual company, creating a fourth sales division.

Corporate web site is developed.

IMSA membership begins.

2001
Baltimore Life reorganizes as a mutual insurance holding company.

2004
Developed INSpeed, an innovative technology to underwrite and process applications electronically in a matter of minutes.

Consolidated policy administration systems to streamline processing.

[Click here to print a pdf copy of our company's history.]