James H. Speed, Jr., is president and CEO of North Carolina Mutual Life Insurance Co. The 106-year-old Durham-based company is the nation's largest black-owned insurer. The company operated in the red in 2002 an 2003. Speed, who joined the company in 2002 and assumed his present position in 2003, predicts the company will break even in 2004 and become profitable in 2005. He was chief financial officer for Hardee's Foods in Rocky Mount before joining North Carolina Mutual.