Search results
Results From The WOW.Com Content Network
Mutual Benefit Life was taken into receivership for rehabilitation by the New Jersey Department of Banking and Insurance on July 16, 1991, after losses in an overheated real estate market led to a run by policyholders, who ultimately lost the purported "cash value" that had been said to have accrued in their policies. At the time, the collapse ...
Mutual benefit corporations must still file tax returns and pay income tax because they are not formed for a purpose that is meant to benefit the general public (unlike public-benefit nonprofit corporations) but rather to provide an association of people with a common benefit. Due to its private purpose, a mutual benefit corporation pays the ...
Old Mutual Holdings Plc, Formally known as UAP Holdings Limited, is an investment, retirement, and insurance group that operates mainly in Eastern Africa.UAP Holdings is one of the leading insurance and financial services groups in eastern Africa with a network of branches and operational subsidiaries spread across the greater eastern and central Africa regions.
Guaranty Trust Holding Company PLC also known as GTCO PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management and payments services, headquartered in Victoria Island, Lagos, Nigeria. GTCO Plc was created in July 2021 following the corporate reorganization of Guaranty Trust ...
A company with a share capital, similar to its limited company (Ltd., or PLC.) counterparts, but where the liability of the members or shareholders is not limited; Limited Liability Partnership (LLP): Only allowed in the state of Lagos, Nigeria. Partnership: Arrangement in which parties agree to cooperate to advance their mutual interests.
The "mutual holding company" structure was first introduced in Iowa in 1995, and has spread since then. [5] There have been concerns that the mutual holding company conversion is disadvantageous for the owners of the company, the policyholders. [6] The major disadvantage of mutual insurance companies is the difficulty of raising capital. [7]
Nevertheless, in many countries, for example in Europe, mutual benefit societies continue to provide statutory and supplementary healthcare coverage. [citation needed] Peter Kropotkin posited early in the 20th century that mutual aid affiliations predate human culture and are as much a factor in evolution as is the "survival of the fittest ...
AIM, the International Association of Mutual Benefit Societies (Association Internationale de la Mutualité) represents health mutual benefit societies (mutuals) and health insurance funds in Europe and worldwide. [1] It was founded in 1950 [2] and is based in Brussels.