Project Description

F. M. Hubbell - 1997

F. M. HUBBELL

1997

In 1855, F.M. Hubbell was 16 years old when he arrived in Iowa. During the 75 years that followed, Mr. Hubbell’s work established his reputation as one of our state’s most notable business pioneers and civic leaders. At the age of 28, he founded Iowa’s first life insurance company, Equitable Life of Iowa, in 1867. Mr. Hubbell served as the company’s first secretary, assumed the presidency in 1888, and was named chairman of the board in 1907. Equitable Life of Iowa is the oldest life insurance company based west of the Mississippi River.

In addition to managing extensive real estate development and the construction of local railroads and the Des Moines water plant, Mr. Hubbell was active in securing the passage of insurance regulatory laws which guaranteed the proper fulfillment of all policy contracts. A practicing attorney at age 19, he is recognized as the “father of the compulsory deposit law” which requires that Iowa life insurers invest the legal reserve on all policies in approved securities, and to deposit these securities with the state of Iowa for the protection of policyholders.