Demutualization

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A demutualization is the conversion of the legal form of a company into customer ownership, e.g. B. Mutual Insurance Association (VVaG) into a stock corporation . There is the option of demutualization with an IPO and sponsored demutualization.

In the event of demutualization with an IPO , members receive shares in the stock corporation as compensation for membership.

In the case of a sponsored demutualization, an investor takes over the newly founded stock corporation . Compensation for membership can then take the form of improved insurance benefits or payments.

Partial demutualization

The VVaG forms the parent company via an intermediate holding company in the form of a stock corporation , which holds the stakes in the operational insurance stock corporations. The VVaG's holdings are transferred to the operating companies.

Complete demutualization

The complete demutualization consists in the conversion, amalgamation or transfer of the assets / insurance portfolios to / in a stock corporation .

Reasons for demutualization

literature

  • Jürgen Bürkle (Ed.): Legal framework for mutual insurance associations: Festschrift for the 100th anniversary of the Stuttgarter Lebensversicherung a. G. VVW, Karlsruhe 2008, ISBN 978-3-89952-340-9 .