In October 1935, William Benjamin, a Seventh-day Adventist Christian and insurance professional, made a landmark presentation to Seventh-day Adventist Church leadership. Mr. Benjamin had an idea, that the Adventist Church should fund and operate its own insurance company.
On April 23 1936, the International Insurance Company of Takoma Park Maryland was licensed and began insuring church properties. Over the years, other insurance and risk management business units would develop, eventually leading to the establishment of Adventist Risk Management®, Inc. in 1995.
Here is a brief look at some of our historical highlights:
- 1860 - Seventh-day Adventist Church established.
- 1935 - William Benjamin presents captive insurance company concept to Adventist Church leadership.
- 1936 - Adventist Church appropriates $25,000 to establish the International Insurance Company of Takoma Park, Maryland.
- 1958 - General Conference Insurance Services, Inc. (later named Gencon Insurance Service, Inc.) is founded, allowing the Adventist Church to purchase insurance directly from the commercial market.
- 1969 - Gencon Agency, Inc. formed to provide direct access to personal lines of insurance for denominational employees.
- 1978 - European regional office established in St. Albans, United Kingdom.
- 1987 - Gencon Insurance Company of Vermont begins operation and all denominational insurance policies are transferred to this new company.
- 1995 - Adventist Risk Management, Inc. established and officially recognized as an institution of the worldwide Adventist Church.
- 2000 - Adventist Risk Management, Inc. – South America is incorporated under the ARM umbrella to serve Adventist Church organizations in South America.
- 2002 - The Gencon Insurance Company International, Ltd. is established in Gibraltar to allow more effective operations within the European Union.
- 2010 - Gencon Adventist Protection Group, Inc. formed to serve the risk management needs of the Seventh-day Adventist Church in Canada.
- 2014 - Activities of Gencon Agency, Inc. and Gencon Insurance Service, Inc. merge into Adventist Risk Management, Inc.