John D. MacArthur - An Uncommon Man

John Donald MacArthur was born on March 6, 1897, in Pittston, Pennsylvania, a small railroad and mining town about 10 miles south of Scranton, Pennsylvania. He was the seventh and last child of William Telfer and Georgiana Welstead MacArthur. His father was minister at Pittston's Jackson Street Baptist Church and traveled extensively to raise funds for missionary work.

The family was impoverished and often shared what little they had with Baptist converts that William brought home. During MacArthur's childhood, the family lived in the vicinity of New York City and later in Chicago, where John attended grammar school. MacArthur's mother died when he was 14 and he ended his formal schooling when he was only 16.

By age 20, he had followed his brother Alfred into the insurance business and was a top insurance salesman at National Life Insurance Company in Chicago. He interrupted his insurance career to serve as a World War I combat pilot with the Royal Flying Corps, of Canada. Upon returning to Chicago, his other brother, Charles, persuaded John to join him as a newspaper reporter for the Chicago Herald Examiner. His career as a Chicago newspaperman was brief and John returned to the insurance business in less than a year.

He acquired control of a small insurance company in 1928-Marquette Life of Jerseyville, Illinois. Under MacArthur's leadership, Marquette Life survived the Great Depression and in 1935 he bought Bankers Life and Casualty Company for $2,500. MacArthur developed the concept of mass marketing low cost health insurance policies through the mail and by 1956, Bankers was the largest health and accident insurance company in America.

In the fall of 1956, MacArthur went to Florida to investigate an investment opportunity. The brief visit would lead to a permanent stay as MacArthur realized the enormous potential of Florida real estate. He would eventually purchase over 100,000 acres, becoming the state's largest landowner.

Known for his frugality, eccentricities, vision and business sense, MacArthur refused to let his wealth and success alter his simple lifestyle. In 1963, he purchased the Colonnades Hotel in Singer Island, Florida. He and his wife Catherine lived in a modest apartment overlooking the parking lot and John conducted his business from a back table in the hotel coffee shop.

MacArthur remained active in Bankers' business affairs until his death. He had a special affinity for his sales force, setting out annually on a whirlwind "March for MacArthur" tour of Branch Sales Offices to announce sales contests.

At the time of his death on January 6, 1978, Bankers' assets had surpassed $1 billion and John D. MacArthur was considered to be one of the three richest men in America. Control of Bankers was passed to the John D. MacArthur and Catherine T. MacArthur Foundation, today one of the country's largest and most respected charitable institutions.