Norman O. Houston facts for kids
Quick facts for kids
Norman O. Houston
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| Born | October 16, 1893 |
| Died | October 20, 1981 (aged 88) Los Angeles, California, US
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| Nationality | American |
| Alma mater | California |
| Occupation | Businessman |
| Known for | President of Golden State Mutual Life Insurance Company |
Norman O. Houston was an important American businessman. He led the Golden State Mutual Life Insurance Company. For a time, this company was the biggest business owned by Black people west of the Mississippi River.
Contents
Early Life and First Jobs
Norman Oliver Houston was born in San Jose, California, on October 16, 1893. His father worked for the railroad. When Norman was 12, his parents divorced. He grew up with his mother and stepfather near Oakland.
After high school, he studied business at the University of California, Berkeley for two years. He then worked as a clerk for California's insurance board. Later, he went back to college.
World War I interrupted his studies. Houston joined the U.S. Army. He was the only African American to hold a special role in his division. After the war, he became an insurance agent in Los Angeles. He sold insurance to Black railroad workers.
In the early 1920s, William Nickerson, Jr. came to Los Angeles. He wanted to start an insurance branch. He hired Houston as his first employee. Houston helped manage the agents. In 1923, Houston left to work for another company, Liberty Building and Loan Association. He sold bonds to African Americans.
Building Golden State Mutual
In 1925, William Nickerson, Jr. decided to start a new company. It was called Golden State Guarantee Fund Insurance Company. He asked Houston to join him. Houston helped figure out what was needed to start an insurance company in California.
They needed to get 500 life insurance policies. They also had to deposit $15,000 with the state. Houston used his money contacts to raise the $15,000. Golden State got its license on July 23, 1925.
At that time, it was hard for Black people in California to get fair insurance rates. Golden State started in a small office. Nickerson was president, and Houston was secretary/treasurer. The company grew fast. In less than three months, they moved to a bigger office.
Golden State Mutual grew quickly. By 1928, they had 100 employees. They built a new main office. In 1931, the company changed its name to Golden State Mutual Life Insurance Company.
In 1938, they opened their first office outside California, in Chicago. They also worked to become a "legal reserve" company. This meant they needed to deposit $250,000 with the state. They finished this by 1941. In 1944, Golden State opened an office in Texas.
When Nickerson died in 1945, Norman Houston became the leader. At this time, Golden State Mutual was the seventh largest Black insurance company in the U.S. It was the biggest Black-owned business west of the Mississippi River.
Leading the Company Forward
Under Houston's leadership, Golden State Mutual kept growing. In 1946, they started a Funeral Services Division. In 1949, they opened a new building in Los Angeles. It was designed by famous architect Paul Williams.
During the 1950s, Golden State expanded to Oregon, Washington, and Arizona. They also started using computers for data. They began offering mortgage insurance and group insurance. Houston was president and CEO until 1967. Then he became chairman of the board.
Later Years and Other Work
In 1970, Houston's two sons, Norman B. Houston and Ivan J. Houston, took over the company. Norman B. became chairman of the executive committee. Ivan became president. The elder Houston still worked at Golden State Mutual until he retired in 1977. He was then named honorary chairman.
Houston was also involved in other businesses. In 1947, he helped start Broadway Federal Savings and Loan. He was its chairman for many years.
Community Involvement
Norman Houston was the first African American appointed to the California State Athletic Commission. He later became its chairman. Los Angeles Mayor Sam Yorty chose him for the 1976 Olympic Games Committee. Houston also led a committee for the YMCA in Los Angeles.
Death
Norman O. Houston passed away in Los Angeles on October 20, 1981. He was 88 years old. He was survived by his wife, Edythe, his two sons, and a daughter.
