Woodmen Accident to Form Mutual Holding Company.Woodmen Accident & Life said its policyholders have approved the company's plan to convert to a mutual holding company. The company said 95% of those who cast ballots voted to approve the plan. The company said a mutual holding company structure would allow it to be better able to grow, raise capital or buy another company. Under the plan, Woodmen would become a stock insurance subsidiary of the WFR WFR Wilderness First Responder WFR Wafer WFR Wizard's First Rule (Terry Goodkind book) WFR Work Force Reduction WFR Waiting For Reply WFR Worcestershire and Foresters Regiment WFR With Fried Rice Insurance Holding Co. The holding company will be 100% owned by policyholders, Woodmen said. But the insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. could raise capital by selling stock. Woodmen, founded in 1890, has recently acquired a large book of individual disability business from Fortis Insurance and acquired Assurity Life Insurance Co. as it seeks to beef up that line of business. The company also recently shed its group health, dental and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. and short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. group disability business, passing it to Blue Cross & Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. of Nebraska. The company is focusing on individual life, annuities and individual disability. |
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