Setting up the stage for self-listing in the latter half of 2014, the Kenyan National Securities Exchange (NSE) has won approval from the financial markets regulator to conduct business as a demutualized
The stock exchanges will now operate as for-profit, demutualized
entities thereby ensuring a clear segregation of ownership rights from trading rights.
life insurance industry and analyze if the motives were similar for mutual life insurers that fully demutualized
versus those that converted to mutual holding company (MHC) form.
The amended SEC Act will have legal provisions that will provide expressly for Demutualized
Exchanges, profit sharing, listing of a Demutualized
Exchange, limitation of shareholding, Government appointees to the board of a Demutualized
Exchange and public interest mandate" she said adding that the Act will also include provisions to effectively regulate a Central Counter Party (CCP)/ Depositories as the establishment of a Central Counter Party will reduce the amount of counterparty risk that market participants are exposed to.
The insurer, formerly a mutual company, demutualized
and became a joint stock firm in April 2004 and has been seeking to go public during the current business year through March 2008.
and changed its name to Fremont Insurance Co.
in October 2002 and became a publicly listed company on June 4, 2003.
2 insurer was put forth by four plaintiffs from Barbados, who say they were left out of lucrative payouts when Manulife demutualized
In addition to Prudential, 18 major insurers have demutualized
Other New York mutuals, like MONY, had earlier demutualized
Seventeen mutual insurance companies have demutualized
since 1986 with the largest, by far, occurring this year.
The closed block was established to ensure that reasonable dividend expectations of policyholders are met for participating, dividend-paying policies and contracts that were in force when Phoenix demutualized
in June of 2001.