Prudential's Plan of Reorganization Issued.The Prudential Prudential is the name of two different companies and buildings named after them: Companies:
See American Institute of Certified Public Accountants (AICPA). Insurance Trust, recently filed its Plan of Reorganization with the New Jersey Department of Banking and Insurance. The Plan details the company's proposal for converting from a mutual insurer owned by its policyholders to a 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. owned by stockholders. As a Prudential policyholder Policyholder An individual who owns an insurance policy. , the Trust expects to be eligible to receive consideration under Prudential's Plan of Reorganization. Although the amount and type of consideration -- which could take the form of stock, cash or both -- that will be received by the Trust is unknown at this time, the AICPA Life Insurance/Disability Plans Committee and its Task Force for 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. are continuing to monitor the demutualization process and are currently in the process of reviewing Prudential's Plan of Reorganization. The Life Insurance/ Disability Plans Committee will continue to keep subscribers to the AICPA Insurance Trust informed of future developments concerning the demutualization as more information becomes available. |
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