History of Pacific Life
Pacific Life Insurance was founded on May 9, 1868, in Sacramento California. The company’s first president was Leland Stanford, who went on to found the world-renowned Stanford University in Palo Alto, California.
Pacific Life Insurance grew steadily until 1885, when it launched its first major expansion. The company decided to start offering people accident insurance as well as life insurance. The policies caught on and were soon numerous. By 1906, Pacific Life was a major factor in California insurance, and had many obligations to meet as a result of the catastrophic San Francisco earthquake. The company’s headquarters was destroyed, and the board of directors scheduled an emergency meeting on what to do. They decided to move the new headquarters south to Los Angeles.
In 1955, Pacific Life Insurance had become so large, busy and prosperous that the company became the first company west of the Mississippi to install a computer to handle its business operations. The Univac 1 was immediately put to use streamlining Pacific Life’s business model. In 1972, as a sort of extension of that forward-thinking that brought about the Univac 1, Pacific Life decided to move its headquarters even further south, from Los Angeles to Orange County’s Newport Beach. This decision was made because corporate directors felt that the company’s future would be a technology-based one, and that relocating to a “high-tech” area would make a lot of sense for all parties involved, especially employees.
At present, Pacific Life Insurance has become one of America’s largest insurance providers, and when it began to advertise nationally people associated it with the company’s logo and mascot, the Humpback whale. Because of this association, Pacific Life Insurance advocates many marine protection services, and has donated almost $4 million to conservation and nonprofit organizations dedicated to preserving the world’s oceans.
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