The North Carolina Mutual Life Insurance Company

Growth in the Nation

By the mid-20th century, Mutual was a nationally recognized name. With offices in Pennsylvania, Illinois, and California, close to one million people had received a payout from a Mutual insurance policy by the 1960s. The familiar names of the Triumvirate were replaced by those of William Kennedy II and III, Asa Spaulding, and Joseph Goodloe. In 1966, Mutual Plaza was developed as the new company headquarters. Rising 13 stories amid Durham's skyline it was an architectural marvel, winning numerous awards for its function and design. By the 1970s, Mutual broke significant record, the first black business worth over one billion dollars.