Sherod Foster Yancey
Source: Texas Edition - Men of Achievement. By Evelyn M. Crowell. 1948
With a record of almost twenty years in the insurance business, Sherod Foster Yancey is one of the best informed men in Texas on operation and management of fire and casualty business. Since 1929, when he first entered the insurance business, this native of Dallas has made this line of work his career. Mr. Yancey was born in Dallas on January 22, 1907. His parents were Dr. Robert S. Yancey and Martha Foster Yancey. His early education was obtained at Terrill Preparatory School in Dallas and then from Lawrenceville Preparatory School and Bowdoin College in Brunswick, Maine. His first work, was in the insurance field when he joined the Insurnce Company of North America in 1929 at Dallas. Later, he was also associated with the Texas Employers Casualty Company and then with the Commercial Standard Insurance Company in Texas. In 1938, Mr. Yancey took over management of the F T. A. Manning & Sons, an insurance management concern handling all lines of fire and casualty coverage. Two years later, Mr. Yancey purchased the interests of the Mannings and has operated the firm since that time as the owner, but still under the Manning name. Associated with Mr. Yancey in the management of T. A. Manning Sons during the past two years has been his brother, Charles Yancey. The firm has handled the insurance affairs in Texas for such concerns as Aetna, Springfield, Fidelity, Phoenix, the Home group and many other leaders in the fire and casualty field. Mr. Yancey is a member of the Dallas Chamber of Commerce, the Dallas Athletic Club, Brook Hollow Golf Club, Norwood Club, Idlewild Club, Terpsichorean Club and the college fraternity of Beta Theta Phi
T. A. Manning & Sons
One of the oldest and most important management concerns in Texas, T. A. Manning & Sons, has perfected plans to launch a new fire and casualty insurance company under the direction of S. Foster Yancey and his brother, Charles Yancey, owners of the Manning firm. The new company, known as the Southwestern Fire & Casualty Company, will open with a capital stock of $1,000,000 and another two million in paid-in surplus. It is reported to be the largest such firm ever organized under the Texas insurance laws. S. Foster Yancey became associated with the Manning concern in 1938 and two years later bought the controlling interest in the firm from the Manning family. Mr. Yancey had already had seven years experience in the insurance business with other companies in Texas. His brother, Charles, practiced Insurance law for five years before the outbreak of World War II and, since his discharge from the Navy, he has managed the casualty department of Manning.
T. A. Manning & Sons has been in the insurance management business since it was organized in 1904. During that time, it has handled the affairs of some of the largest insurance firms in the country, including Aetna, Springfield, Fidelity, Phoenix, the Home group and others. Associated with Mr. Yancey in. the new firm is Bladgen Manning, who joined the Manning firm soon after it was organized and was its manager until Mr. Yancey purchased control of the company. The new Southwestern Company, which will have its home office in Dallas, is organized to transact business in all form of insurance except life, including fire, marine, extended coverage and general casualty lines. Plans have been drawn for the erection of a new building in a suburban business section to house its operations. Mr. Yancey plans to keep the home office organization of the Manning firm intact and to make considerable use of seven hundred and fifty local agents of the company in Texas in obtaining business for the new company. Organization of the Southwestern Company has been under consideration for some time in the belief that there was a strong need in Texas for another fire and casualty concern.
The fire and casualty business has greatly increased in Texas within the last few years and has resulted in more restrictions because of the, necessity on the part of insurance companies to control reserves. Because of this fact, T. A. Manning & Sons felt that there was an excellent opportunity for profitable investment in the insurance business. Mr. Yancey is confident that, with his company's already completely established home office, field force and agency plant, the new company is going into business with definite advantages.