John D. MacArthur
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- This article is about American businessman and philanthropist John D. MacArthur. For other people named John MacArthur, please see John MacArthur (disambiguation).
MacArthur made his fortune in the insurance business; in 1935, he acquired the Bankers Life and Casualty Company for $2,500. In subsequent years, he built up a business empire through acquisitions of many small insurance corporations. In the 1950s, MacArthur signed famed broadcaster Paul Harvey to be the radio spokesperson for the company (today, the national spokesperson for Bankers Life is actor Dick Van Dyke).
To avoid conflict of interest rules, the company was sold after MacArthur's death by the foundation he created. Because of MacArthur's extraordinary vision and leadership, Bankers Life created altogether new financial markets: Bankers Life is today a leader in long term care insurance in the U.S. The company is today publically held with a capitalization of approximately $6 billion. It is one of the Conseco Insurance Companies (NYSE: "CNO"). MacArthur also grew his vast fortune by heavily, and lucratively, investing in Florida real estate.
MacArthur's brother Charles MacArthur was an American playwright and screenwriter, best known as co-author of the play The Front Page. MacArthur's sister-in-law was the esteemed actress Helen Hayes. MacArthur and his many brothers and sisters grew up in poverty, the children of an itinerate preacher and his resourcful wife.
He married Catherine T. Hyland, who was intimately involved for decades in management of his companies.
His grandson, John R. MacArthur is publisher of Harper's Magazine.
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