AmerUs Parent, Indianapolis Life Merger Includes Conversions.American Mutual Holding Co. and Indianapolis Life Insurance Co. have agreed to a merger in which Indianapolis Life will fully demutualize demutualize or -ise Verb [-izing, -ized] or -ising, -ised (of a mutual savings or life-assurance organization) to convert to a public limited company . American Mutual Holding Co. said it would continue its previously announced demutualization Demutualization The process of changing corporate structure from a mutual fund company to some other form, such as a limited liability or corporation. Notes: This means mutual/life insurance companies convert from policyholder companies to stock companies. . Members of Indianapolis Life will receive 11.25 million shares of the resulting publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. The current members of American Mutual will receive 17 million shares of the resulting publicly traded company and more than $300 million in other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. , according to the demutualization plan approved by American Mutual in December. Under Iowa law, Indianapolis Life will become a stock life insurance subsidiary of a public company that will be called AmerUs Group. |
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