American Mutual Holding Company Completes Demutualization, Changes Name.Business Editors DES MOINES, Iowa--(BUSINESS WIRE)--Sept. 20, 2000 American Mutual Holding Company, the majority shareholder of AmerUs Life Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :AMH AMH Abington Memorial Hospital (Abington, PA) AMH Anti-Müllerian Hormone AMH Australian Medicines Handbook AMH Automated Material Handling AMH Aviation Structural Mechanic (Hydraulics) US Navy Rating ) announced that its 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. is effective today. The demutualization was part of the company's plan of conversion that also included the merger of AmerUs Life Holdings with and into American Mutual Holding Company. The name of the surviving publicly-traded company is AmerUs Group Co., and its stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the current symbol (NYSE: AMH). Current shareholders will exchange their shares for shares of AmerUs Group on a one-for-one basis. AmerUs Group is in the process of distributing its stock, cash or policy credits, currently valued at nearly $800 million, to its eligible members. "Our new, demutualized structure provides several important benefits. First, we now have a greatly simplified corporate structure. Second, we are distributing 17.4 million shares of stock to our members and no longer have a single controlling owner. Finally, our liquidity is enhanced since the number of shares publicly-traded has more than doubled. We believe this will create long-term value for our shareholders," said Roger K. Brooks, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AmerUs Group. AmerUs Group is a publicly-traded Iowa corporation located in Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, , engaged through its subsidiaries in the business of marketing, underwriting and distributing individual life insurance and annuity products in 49 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and the U.S. Virgin Islands. Its wholly-owned subsidiaries include AmerUs Life Insurance Company, Delta Life Corporation, and its operating subsidiary, Delta Life and Annuity Company, and AmVestors Financial Corporation, located in Topeka, Kansas, with two wholly-owned operating subsidiaries -- American Investors Life Insurance Company, Inc. and Financial Benefit Life Insurance Company. As of June 30, 2000, the company's total assets were $11.0 billion and shareholders' equity totaled $755.4 million. |
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