The Standard Life Insurance Demutualization (Or How 72,000 Former Policyholders in the United Kingdom Are About to Forfeit £113,000,000 in Unclaimed Stock and Cash)
Imagine you have a policy with an insurance company. This insurance company is mutually run, which means there are no stockholders. Instead, the policyholders own the business and the enterprise is managed to give policyholders the best service, at the lowest possible price, as a cooperative undertaking. Now, imagine that one day, the policyholders’ representatives decide they want the business to become a for-profit corporation.