Considerations in a Mutual Life Insurance Company Conversion

  • Harry D. Garber
Part of the Huebner International Series on Risk, Insurance, and Economic Security book series (HSRI, volume 17)


This chapter focuses on the issues involved in a conversion of a life insurance company from mutual to stock form. This is a subject to which I have given a great deal of thought and attention in recent years, including service as Chairman of the Society of Actuaries Task Force on Mutual Life Insurance Company Conversions and as a member of the LICONY (Life Insurance Council of New York) group that helped to design New York State’s demutualization law. I am particularly pleased to see this work bear fruit for my own company which successfully implemented mutual-to-stock conversion during 1992.


Life Insurance Equity Capital Stock Company Policy Dividend Life Insurance Company 
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  1. Kelley, Bruce G. “Stocking a Mutual Insurance Company. The Regulatory Experience.” Federation of Insurance and Corporate Counsel Quarterly, Fall, 1979.Google Scholar
  2. Section 7312. “Reorganization of a Domestic Mutual Life Insurer into a Domestic Stock Life Insurer.” New York Insurance Laws. NILS Publishing Company, 1989.Google Scholar
  3. Society of Actuaries. “Report of the Task Force on Mutual Life Insurance Company Conversion.” Transactions of the Society of Actuaries, 1987.Google Scholar

Copyright information

© Springer Science+Business Media New York 1993

Authors and Affiliations

  • Harry D. Garber
    • 1
  1. 1.The Equitable Life Assurance Society of the United StatesUSA

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