The African Insurance Company of Philadelphia, founded in 1810, is the first known black insurance company. It was not incorporated, but had capital stock in the amount of $5,000. Its president was Joseph Randolph; treasurer, Carey Porter; and secretary, William Coleman. In 1931, Alexander and Company General Insurance Agency of Atlanta, Georgia, established by Theodore Martin Alexander Sr. (1909–2001), was the first black-owned and black-controlled general insurance brokerage and risk management agency in the South. It eventually grew to be the largest.