The Feeling Was De-Mutual
October 8, 2024 by Kerry Pechter
Ironically, the bankruptcies of multi-billion dollar life insurers owned by publicly-held Baldwin-United (in 1983), First Executive (1991), and First Capital Holding (1991) didn’t scare major mutual life insurance companies away from changing into stock companies. On the contrary.
Starting with The Equitable in 1992, a wave of household-name mutuals would “demutualize” in the 1990s and early 2000s. From then on, they would be owned by investors and not, as they had been, by the people who bought their life insurance policies and annuities.
Click HERE to read the full story via RIJ
Wink’s Moore on the Market:
If you need a good overview on mutual insurance companies, versus stock held companies, and the demutualization process, you should read Kerry Pechter‘s recent article.
This is Part 1 in a two-part series. -sjm
