Sloan Insurance celebrates 65 years
Published 6:14 pm Tuesday, September 15, 2015
Businesses come and go, but at least one has stood the test of time in Washington.
Sloan Insurance, an independent, family-owned insurance agency on West Main Street in the downtown area, has served the community for decades — and it’s still going strong after more than 65 years.
Lloyd P. Sloan Jr. was working as an accountant for Talley Brothers Supply Store after serving in the U.S. Air Force during World War II when he came up with the idea to open his own insurance business in September of 1950.
Sloan started working out of the supply store before moving his business to the old Peterson Building, which now houses the City of Washington’s Parks and Recreation Department. Then he decided to move again to another building across the street before finally settling into the current location in the early 1960s —1961 to be exact, Sloan’s son Lewis recalled.
Along with Lewis, Lloyd Sloan and his wife had another son Mike, and both ended up transitioning into the family business.
Mike Sloan said, growing up, it wasn’t required of the sons that they join the business but rather a desire that made them want to continue it.
“We both went to East Carolina University and I entered the business in 1978. (Lewis) came in 1979,” he said. “No, it wasn’t understood. … It was a desire to, you know, be in the family business and stay around Washington.”
Sloan Insurance has continued to prosper throughout the years, buying out an agency upon moving into its current location in 1961, buying another in 1985 and then H. Reid Mitchell Jr.’s agency in 1989. The company now has four insurance agents, including Mike and Lewis, who also serves as the head of the company, and one accountant.
The Sloan brothers’ grandmother Myrtle was also an integral part of the business, as was their mother Marion, who was a partner until her death in 2010.
But despite the milestone, Mike Sloan said the day went by with business as usual, and it was their father Lloyd who called to remind them.
“In fact, we kind of forgot about it,” he said.
The family is celebrating another milestone soon, as Lloyd Sloan is turning 90 on Sept. 25.
Mike Sloan said the jury is still out on whether Lewis’ two sons will decide to join the insurance business, but for now, the Sloan brothers plan on operating as they always have.
“We’re just grateful. The insurance business has been good to us, and the customers in Beaufort County (and eastern North Carolina),” Mike Sloan said. “Insurance is challenging these days with being in eastern North Carolina where a lot of companies don’t particularly want to be because of hurricanes.”
“We have a few customers, a handful, that have been with us since 1950,” he said. “It’s been rewarding.”