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Demutualized Organizations
Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies, where members' savings enable the provision of mortgages to members). It redistributes some profits to its members. By contrast, a join ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Organization
A mutual organization, also mutual society or simply mutual, is an organization (which is often, but not always, a company or business) based on the principle of mutuality and governed by private law. Unlike a cooperative, members usually do not directly contribute to the capital of the organization, but derive their right to profits and votes through their customer relationship. A mutual exists with the purpose of raising funds from its membership or customers (collectively called its ''members''), which can then be used to provide common services to all members of the organization or society. A mutual is therefore owned by, and run for the benefit of, its members – it has no external shareholders to pay in the form of dividends, and as such does not usually seek to maximize and make large profits or capital gains. Mutuals exist for the members to benefit from the services they provide and often do not pay income tax. Surplus revenue made will usually be re-invested in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massachusetts Mutual Life Insurance Company
The Massachusetts Mutual Life Insurance Company, also known as MassMutual, is a Springfield, Massachusetts-based life insurance company. MassMutual provides financial products such as life insurance, Disability insurance, disability income insurance, Long-term care insurance, long term care insurance, and annuities. Major affiliate includes Baring Asset Management, Barings LLC. MassMutual ranks at 100 in the 2022 Fortune 500 list of the largest United States corporations by total revenue. The company has revenues of $10.7 billion and assets under management of $312 billion (as of 2022). The company employs more than 7,000 in the United States, and a total of 10,614 internationally. History Origins Massachusetts Mutual Life Insurance Company (MassMutual) began operation on May 15, 1851 in Springfield, Massachusetts. It was founded by George W. Rice (businessman), George W. Rice, who subscribed for a guarantee capital of $100,000. As an insurance agent who sold policies for Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Hancock Insurance
John Hancock Life Insurance Company, U.S.A. is a Boston-based insurance company. Established April 21, 1862, it was named in honor of John Hancock, a prominent American Patriot. In 2004, Canadian multinational life insurance company Manulife Financial acquired John Hancock and operates it as an independent subsidiary. The company and the majority of Manulife's U.S. assets continue to operate under the John Hancock name. History On April 21, 1862, the charter of the John Hancock Mutual Life Insurance Company was approved by John A. Andrew, governor of Massachusetts. There was not always a standardization for how the company name has been referenced. For example, a John Hancock advertisement from 1912 refers to the company as "John Hancock Mutual Life Insurance Company," but some John Hancock advertisements and newspaper articles from the 1930s refer to it as the "John Hancock Life Insurance Company." However, 1940s sources again refer to the company as the "John Hancock Mutua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MetLife
MetLife, Inc. is the Holding company, holding corporation for the Metropolitan Life Insurance Company (MLIC), better known as MetLife, and its affiliates. MetLife is among the largest global providers of insurance, Annuity (US financial products), annuities, and employee benefit programs, with around 90 million customers in over 60 countries. The firm was founded on March 24, 1868. MetLife ranked No. 43 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. On January 6, 1915, MetLife completed the mutualization process, changing from a stock life insurance company owned by individuals to a Mutual organization, mutual company operating without external shareholders and for the benefit of policyholders. After 85 years as a mutual company, MetLife Demutualization, demutualized into a Public company, publicly traded company with an initial public offering in 2000. Through its subsidiaries and affiliates, MetLife holds leading market positions in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prudential Financial
Prudential Financial, Inc. is an American financial services company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both Investor#Retail_investor, retail and institutional customers throughout the United States and in over 40 other countries. In 2019, Prudential was the largest insurance provider in the United States with $815.1 billion in total assets. The company is included in the Fortune Global 500, ''Fortune'' Global 500 and Fortune 500, ''Fortune'' 500 rankings. Logo The use of Prudential's symbol, the Rock of Gibraltar, began after an advertising agent passed Snake Hill, Laurel Hill, a volcanic neck, in Secaucus, New Jersey, on a train in the 1890s. The related slogans "Get a Piece of the Rock" and "Strength of Gibraltar" are also still quite widely associated with Prudential, though current advertising uses neither of these. Through the years, the symbol went through various versions, but in 1989, a s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of thos ... between an insurance policy holder and an insurance , insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SIX Swiss Exchange
SIX Swiss Exchange (formerly SWX Swiss Exchange), based in Zürich, is Switzerland's principal stock exchange (the other being BX Swiss). SIX Swiss Exchange also trades other security (finance), securities such as Swiss government bonds and derivative (finance), derivatives such as stock options. SIX Swiss Exchange is completely owned by SIX Group, an unlisted public limited company itself owned by around 120 national and foreign financial institutions. The exchange in its current state was founded in 1993 by merging the Geneva Stock Exchange, the Basel Stock Exchange and the Zürich stock exchange into the (German for "Swiss Securities Exchanges Association"), publicly known in English as ''Swiss Exchange''.SIX Swiss Exchange . Interactive brokers. Retrieved 15 April 2020. The newly created association took o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SIX Group
SIX is a key financial market infrastructure company in Switzerland. The company provides services relating to securities transactions, the processing of financial information, payment transactions and is building a digital infrastructure. The company name SIX is an abbreviation and stands for ''Swiss Infrastructure and Exchange''. SIX is globally active, with its headquarters in Zurich. Company history 1930: Foundation of Ticker AG and subscription to the ''new'' stock exchange Ticker AG in Zurich was founded with the purpose of transmitting stock market prices. It was the predecessor of Telekurs AG, which later merged with other companies to form SIX. With the opening of the new exchange, the ticker system also began to broadcast. This stock exchange ticker, one of the first on the European continent and a special application of the local telegraph, transmitted the Zurich stock exchange prices, the closing prices of other Swiss and important foreign stock exchanges in ita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Stock Exchange Of Hong Kong
The Stock Exchange of Hong Kong (, SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. It is one of the largest stock exchanges in Asia and the List of major stock exchanges, 9th largest globally by market capitalization as of August 2024. The exchange plays a crucial role in connecting international investors with Mainland China, mainland Chinese companies, serving as a major platform for capital raising. Unlike Chinese stock exchanges (other), mainland Chinese exchanges, it operates under Hong Kong’s distinct regulatory framework, which allows greater access to foreign investors. The stock exchange is owned (through its subsidiary Stock Exchange of Hong Kong Limited) by Hong Kong Exchanges and Clearing, Hong Kong Exchanges and Clearing Limited (HKEX), a holding company that it also lists () and that in 2021 became the world's largest bourse operator in terms of market capitalization, surpassing Chicago-based CME Group, CME. A 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Board Of Trade
The Chicago Board of Trade (CBOT), is an American futures exchange, futures and options exchange that was founded in 1848. On July 12, 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form CME Group. CBOT and three other exchanges (CME, NYMEX, and COMEX) now operate as designated contract markets (DCM) of the CME Group. History The Chicago Board of Trade (CBOT), established on April 3, 1848, is one of the world's oldest futures and options exchanges. It was created as a centralized venue where buyers and sellers could meet to negotiate and formalize forward contracts. The idea originated from a conversation between Thomas Richmond and W. L. Whiting, who discussed the potential benefits of forming a board of trade. Their exchange led to a March 13 meeting of merchants and businessmen who supported the initiative, resulting in a resolution to create the institution and draft a constitution. A committee was then formed to develop bylaws, which were officially ad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Public Offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodities Exchange
A commodities exchange is an exchange, or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, and metals). Trading includes various types of derivatives contracts based on these commodities, such as forwards, futures and options, as well as spot trades (for immediate delivery). A futures contract provides that an agreed quantity and quality of the commodity will be delivered at some agreed future date. A farmer raising corn can sell a futures contract on his corn, which will not be harvested for several months, and gets a guarantee of the price he will be paid when he delivers; a breakfast cereal producer buys the contract and gets a guarantee that the price will not go up when it is delivered. This protects the farmer from price drops and the buyer from price rises. Speculators and investor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
