demutualize
demutualise BrE

In early 1998, Sun Life announced its intention to demutualize.

There has been a recent trend for stock exchanges to demutualize, where the members sell their shares in an initial public offering.

In 1999, the exchange became the first U.S. stock exchange to demutualize.

It was founded as a co-operative in 1862, and, in 2007, joined the small number of UK co-operative retailers to demutualize.

This merger caused the 212-year-old (at time of merger) NYSE to demutualize and make an initial public offering.

M&F Co-op made headlines as one of a very few retail members of the British co-operative movement to demutualize.

In nearly every state, Mr. Belth said, "if you demutualize, you have to compensate the policyholders for the loss of their ownership rights and interests."

It is noted that other formerly mutual companies such as Washington Mutual, a former savings and loan association, have been allowed to demutualize and yet retain their names.

There are three general methods in which an organization might demutualize, full demutualization, sponsored demutualization, and into a mutual holding company (MHC).

In 2007, the tiny Scottish retailer, Musselburgh and Fisherrow Co-operative Society, completed most or all of the steps necessary to demutualize.

On November 13, 2000, CME became the first U.S. securities exchange or commodities exchange to demutualize into a joint stock corporation.

After a certain period of years, owners of Mitchell-Lama limited equity housing cooperatives may decide according to their co-op voting rules to "privatize" (demutualize) their building as well.

The first is that the country's two biggest life insurers, Old Mutual and Sanlam, with combined assets of almost $70 billion, have announced plans to demutualize and list on the stock exchange.

In 1997, Andrew Regan launched an unsuccessful hostile takeover bid to demutualize the UK's giant Co-operative Wholesale Society, which, despite its name, was a large retailer in its own right.

In the United Kingdom, the term was adopted to refer informally to those who join a mutual organization, such as a building society, in order to force it to demutualize, that is, to convert into a joint stock company, solely for personal financial gain.

With $179 billion in assets, Prudential would be by far the biggest company ever to demutualize, and the deal would require a new law in New Jersey, Prudential's home state - not much of an obstacle, analysts say, considering the company's local influence.

But last night he declined to comment on the possibility of a deal, noting that the members of the Philadelphia exchange would vote Nov. 25 on a plan to demutualize the exchange, changing it from a member-owned exchange to one owned by shareholders.

He offered the example of an insurance company seeking to demutualize, saying that a foreign adviser would charge fees of about 3 million yen, or $25 million at current exchange rates, while I.B.J. would do the job for a third of that price.

There have been some concerns that the mutual holding company conversion is disadvantageous for the actual owners of the company, the policyholders, and observers such as the Center for Insurance Research have advocated that companies should fully demutualize rather than taking this partial step.

A 2005 attempt by M&F Co-op to demutualize was halted by a Court of Session interdict, and resulted in an investigation by the Financial Services Authority (FSA), the regulator for Industrial and Provident Societies such as M&F Co-op.

The directors of the board of trade, a pioneer in the buying and selling of grain, metals and financial futures for more than 150 years, said they would recommend that the members approve a plan to demutualize the corporation and divide the exchange into one company devoted to "open outcry" floor trading and another dedicated to electronic trading.

It was the last to demutualise, against the board's recommendation, in 2000.

Carpetbaggers moved in to my mutual and they voted to demutualise.

It was the first to demutualise in 1989.

It was the first of the UK building societies to demutualise, doing so on 12 July.

Eventually in March 1988 the Abbey National board voted unanimously to recommend to members that the society should 'demutualise'.

NIB was Australia's first health fund to demutualise, listing on the stock exchange in 2007.

This permitted societies to 'demutualise'.

By the late 1990s, along with many other building societies, the Northern Rock Building Society decided to demutualise, and become a bank.

Former members of the Royal Automobile Club Ltd sued the directors for failing to disclose that they had plans to demutualise.

It was the first exchange in the world to demutualise and list on its own market, a trend that has been imitated by several other exchanges over the years.

The Exchange will demutualise, with the country's main stockbrokers receiving shares in the €56m-valued exchange and dividing up €26m in excess cash.

The 1986 Act also allowed building societies to demutualise, and become public limited companies instead of mutually owned organisations, owned by the customers who borrowed and saved with the society.

Along with many other UK building societies in the 1990s, Northern Rock chose to demutualise and float on the stock exchange, to be able to expand their business more easily.

Following the decision to demutualise the company in 1995, Clerical Medical merged with the Halifax in 1996, and was later absorbed into HBOS plc in 2001.

In later life as Chairman of Abbey National, Adamson led the move to demutualise and convert it from a building society to a bank, and saw an overwhelming majority of the society's members support the move.

In 1998, society members seeking a windfall, branded as carpetbaggers by the UK media, meant Nationwide members had to vote on whether to demutualise the society and float on the London Stock Exchange.

Founded on September 15, 1902, Dai-Ichi was the oldest mutual insurance company in Japan until a motion to demutualise was passed in 2009 and, on April 1, 2010, it listed on the Tokyo Stock Exchange Nikkei, raising 1.01 trillion yen.

The Co-operative Wholesale Society Ltd (CWS) was particularly attractive to "demutualisers" because of the size of its assets, turnover and customer base, and in 1997 entrepreneur Andrew Regan began making an attempt to demutualise the CWS.

The letter arrived against a background of the impending merger of the Co-operative Wholesale Society (CWS) and Co-operative Retail Services to create the Co-operative Group, as well as recent efforts by entrepreneur Andrew Regan to demutualise the CWS.