06/16/2025
Did you know that in 1752 in Philadelphia, Benjamin Franklin began the Philadelphia Contributionship, which is recognized as the first mutually owned and operated business in the United States? The Contributionship was a mutual fire insurance company that offered protections to Philadelphia buildings that joined, which would be evidenced by the “fire mark" that was placed on buildings. Fire marks, or metal plaques sporting the insurance company's logos and affixed to the buildings, were used by many other insurance companies throughout the country.
The Philadelphia Contributionship was incorporated in 1768. The Philadelphia Contributionship Mutual Holding Company still exists today as a much larger umbrella organization with many insurance subsidiaries.