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A reciprocal inter-insurance exchange or simply a reciprocal in the United States is an unincorporated association in which subscribers exchange insurance policies to pool and spread risk. For consumers, reciprocal exchanges often offer similar policies to those offered by a stock company or a mutual insurance company.
FBL Financial Group, Inc. is a financial services holding company, headquartered in West Des Moines, Iowa, and traded on the New York Stock Exchange under the symbol FFG. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses.
Mid-Century Insurance Company became a subsidiary of the Farmers Insurance Exchange. Aside from the insurance coverage provided by the original three exchanges, Mid-Century offered insurance coverage for Inland marine , robbery, burglary, personal lines, plate glass, selected bonds, and floaters .
Erie Insurance Exchange began in 1925 when two salesmen for the Pennsylvania Indemnity Exchange, H.O. Hirt and O.G. Crawford, left to create their own insurance company.. In three months and 20 days, the two convinced 90 stockholders to invest using a hand-written business plan, raising $31,000 to begin their own auto insurance compa
The Stockholm Stock Exchange was the first exchange to demutualize in 1993, followed by Helsinki (1995), Copenhagen (1996), Amsterdam (1997), the Australian Exchange (1998) and Toronto, Hong Kong and London Stock Exchanges in 2000. [6]
The company was established through the merger of the Guardian Assurance Company and Royal Exchange Assurance in 1968. [1] In February 1998 it acquired PPP Healthcare, a private healthcare insurer, for £435m. [2] In February 1999 it was acquired by Axa of France for $5.7bn and integrated into its Sun Life & Provincial Holdings division. [3]
The following year the company went public, trading on the New York Stock Exchange. [ 5 ] StanCorp's Standard Insurance purchased part of Teachers Insurance and Annuity Association (TIAA) group life and disability portfolio in 2002 for $75 million.
AIA had planned to be listed company in Hong Kong Stock Exchange and Securities and Futures Commission on 3 April 2010. However, on 2 March 2010, Prudential PLC , a UK-based financial services and securities company, announced that it would buy AIA for US$35.5 billion. [ 6 ]
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