Demutualization
Demutualization
- 1983 12 – SOA – The Actuary – act-1983-vol17-iss10-angle – Society of Actuaries
- 2000 – SOA – U.S. and Canadian Demutualizations-Postmortem, rsa00v26n3130pd – Society of Actuaries – 21p
- (p54) – 1:34-1:41 – Bruce BRALEY (D-IA) – Mr. Dinallo, I want to start with you.
- Twenty-five years ago,I was a research assistant to Professor Alan Whitus, who was updating the Keeton and Whitus basic text on insurance law; and I think both Professor Whitus and Professor Keeton would be rolling over in their graves seeing what has happened to the industry that they were so passionate about.
- I think you would agree with me that industry has changed radically in the 25 years that I’ve been talking about.
- Twenty-five years ago,I was a research assistant to Professor Alan Whitus, who was updating the Keeton and Whitus basic text on insurance law; and I think both Professor Whitus and Professor Keeton would be rolling over in their graves seeing what has happened to the industry that they were so passionate about.
- Eric DINALLO, Superintendent, New York State Insurance Department – Yes. In particular going from mutual companies to publicly traded companies.
- Mr. BRALEY. And a lot of those demutualizations resulted in a significant financial loss to policyowners who owned the shares of those mutual companies-who owned the mutual companies and during the conversion in many cases were screwed out of their financial share of those companies.
- Mr. DINALLO. I might not use the same verb, but I will agree.
- Mr. BRALEY. I think you get my point.
GOV (House-OGR) – The Causes and Effects of the AIG Bailout- AIG Bailout Oversight Hearing, Henry Waxman (D-CA) — [BonkNote]