Not all roses, but still sweet. (Editor's Prologue).Changing from a mutual to a publicly owned Publicly owned can refer to:
In this month's cover feature, "Life in the Public Eye" (page 22), the chief executives of three recently demutualized companies talk about the challenges they've faced, the changes that have happened in their companies, the good results they've realized and the gains they hope are ahead. Roger K. Brooks of AmerUs Group, J. Barry Griswell of Principal Financial Group and Robert H. Benmosche of MetLife Inc. are candid can·did adj. 1. Free from prejudice; impartial. 2. Characterized by openness and sincerity of expression; unreservedly straightforward: In private, I gave them my candid opinion. in their observations about having shareholders and analysts watch their growing pains grow·ing pains pl.n. Pains in the limbs and joints of children or adolescents, frequently occurring at night and often attributed to rapid growth but arising from various unrelated causes. , but they're optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about achieving growth, attracting talented professionals and using their newly acquired attention to build name and brand recognition. "Once you have a ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors and something happens, good or bad, you get coverage," Griswell said. More and more companies are choosing to live in that coverage. Of the 20 largest mutual companies in mid-1996, only six decided to remain mutual, with another seven converting to the mutual holding company form. For some large property/casualty insurers, the conversion has been from writing homeowners insurance to not writing homeowners insurance. A variety of conditions, including a surge in the frequency of small weather-related events, has large carriers pulling back. State Farm, for example, said in mid-October it will not write new homeowners business for now in 15 states. Yet, the smaller, regional homeowners insurers are faring well in this market, despite the bad weather. Find out how in "Shelter From the Storm" (page 53). Other changes afoot are the changes in the rules for 529 college savings plans that are making the plans more attractive to savers and the market more attractive to insurers. "A+ for College Cash" (page 78) looks at who's interested in increasing their market share. Sally Whitney is editor. You may reach her at (908) 439-2200, Ext. 5340, by writing to A.M. Best Co., Ambest Road, Oldwick, NJ 08858, or by e-mail at sally.whitney@ambest.com. The e-mail address See Internet address. e-mail address - electronic mail address for Best's Review is bestreview@ambest.com. |
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