How ‘Demutualization’ Changed Everything, Part II

November 13, 2024 by Kerry Pechter

With demutualization, a life insurer went from being a cooperative aimed at providing its owner-customers with insurance at cost, to being a diversified financial corporation aimed at maximizing value for its shareholder-owners. Those are fundamental changes.

The “demutualization wave” of the late 1990s was a watershed for the U.S. life/annuity business. It was the outcome of forces building up for two decades. It would have profound effects, simultaneously good and bad, on the life/annuity business in the new millennium.

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Originally Posted at Retirement Income Journal on November 3, 2024 by Kerry Pechter.