American Bankers Insurance in Miami

A prominent South Florida insurance firm was the first large corporation to call the Brickell neighborhood home. This is the story of the office building at 600 Brickell Avenue from 1957 - 2007.

Cover: American Bankers Insurance building at 600 Brickell Avenue in the late 1970s. Courtesy of the Miami Herald.

At the start of the 1950s, the Brickell neighborhood was on the brink of transformation as changing demands began to redefine the types of buildings along its main corridor. Once known as a quiet residential avenue, Brickell Avenue was poised to take on a new character by the middle of the decade.

As part of the historic Dixie Highway, the primary route connecting northern travelers to the Florida Keys, Brickell Avenue saw increasing pressure for commercial redevelopment. Throughout the early 1950s, several parcels were rezoned for hotel and business use. In 1953, the South Winds Motel opened at the corner of SE 7th Street and Brickell Avenue, followed a year earlier by the six-story office building at 550 Brickell, which featured medical suites and the popular Brickell Bridge Restaurant at street level.

While Brickell gradually transitioned from an exclusive residential enclave to a mix of condominium towers and businesses, a true turning point came in the late 1950s. When American Bankers Insurance Company opened its corporate headquarters at 600 Brickell Avenue in 1957, it marked the beginning of Brickell’s identity as a center for commerce and high-rise living which is a reputation that continues to define the district today. This is the story of that pivotal building and its fifty-year presence on Brickell Avenue.

Company Founded in 1947

Figure 1: Aerial view of NE Second Avenue in 1935. American Bankers first offices at 345 NE Second Avenue was across the street from the church in the lower left corner. Courtesy of Miami-Dade Public Library, Romer Collection.

American Bankers Insurance was founded in Miami on October 22, 1947, to provide insurance coverage related for consumer credit financing, initially focusing on automobile and mobile home physical damage policies. During its early years, the company operated out of the Landon Building at 345 N.E. Second Avenue, the current site of McDonald’s on the Miami Dade College campus. With an initial capital and surplus of $1.5 million, the firm began operations under its first president, Harold St. Clair, an experienced insurance executive from New York.

By 1952, the company had expanded its services with the creation of a subsidiary, the American Bankers Life Insurance Company, led by James G. Ranni, who was appointed president of this new entity. This move marked the beginning of the firm’s diversification beyond property and casualty coverage.

Throughout its first seven years, American Bankers Insurance experienced steady financial growth. By the close of 1954, the company reported $3.2 million in paid-in premiums, which was an increase of $732,000 over the previous year. Its consistent profitability and regular dividend payments made it a favorite among retail investors.

In 1955, the company began to underwrite full ocean and inland marine policies, further broadening its insurance portfolio. That same year, it gained approval to conduct business in six additional states, bringing its total to 29 states by the mid-1950s.

As American Bankers Insurance continued to grow and diversify, its space in the Landon Building became insufficient for its expanding operations. In 1955, the company purchased two lots along Brickell Avenue to construct a modern, purpose-built office building. This new facility would become the first dedicated corporate headquarters in the emerging commercial corridor, signaling the start of Brickell Avenue’s transformation into a diverse business and residential district.

Brickell Office Building in 1957

Figure 2: Rendering of the first structure at 600 Brickell Avenue in 1957. Courtesy of the Miami News.

On June 12, 1956, executives from American Bankers Insurance and its life insurance subsidiary gathered at the corner of SE Sixth Street and Brickell Avenue to break ground on their new home office building. At the time of the ceremony, American Bankers Life Insurance had already achieved more than $100 million of insurance in force which was an impressive milestone less than four years after its founding.

The three-story structure was designed by the architectural firm of Weed, Russell, and Johnson, and constructed by the Escher Construction Company. Built on the southern parcel of the property acquired in 1955, the design included provisions for future vertical expansion and the eventual construction of a ten-story tower on the adjoining northern lot. The original building cost $600,000 to complete and was formally dedicated on May 17, 1957.