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A mutual insurance company is often self-managed, and policyholders may have a role in electing the board of directors. Mutuals are typically thought of as being not-for-profit, but mutuals can own for-profit stock insurance companies.
The resulting company is now known as Travel Insured International, a Crum and Forster Company. [16] The Travelers logo, ca. 1993. In the 1990s, Travelers went through a series of mergers and acquisitions. It was bought by Primerica in December 1993, but the resulting company retained the Travelers name. [14] In 1995, it became The Travelers Group.
As a result of this merger, the company became a direct wholly owned subsidiary of Fire & Marine, with St. Paul as its ultimate controlling entity. On September 18, 2001, the company was acquired by Old Mutual plc ("Old Mutual"), a London-based financial services company, which the Maryland Insurance Administration approved on September 21 ...
The leaders at Mutual Underwriters would manage the company in exchange for 15% of Heartland’s premiums ― a rate that would have netted about $760,000 in 2022.
The company was later renamed to Farm Bureau Life Insurance Company in 1938. [8] With growth, came a need for the expansion of office space. In 1936, the company moved into the 246 Building at 246 N. High Street in Columbus. By 1943, Farm Bureau Mutual operated in 12 states and the District of Columbia. Even with the tripling of space in the ...
In 1909, the company was formed in Greenfield, Iowa as "Iowa Farmers Mutual Reinsurance Association" by John Evans to provide reinsurance for county mutuals in Iowa. [2] In 1933, the company moved to Grinnell, Iowa, and changed its name to "Farmers Mutual Reinsurance Association". [3] The name changed again in 1948 to "Farmers Mutual ...
A $21 million special assessment fee has outraged residents of two 16-year-old buildings at 1060 Brickell in Miami, Florida, with some unit owners facing individual bills exceeding $40,000.
Per the new Florida law, all three-story-plus condo buildings and at least 30 years old must undergo a mandatory engineering assessment before Dec. 31, 2024. Condo associations must also shore up ...
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