NU Online News Service, June 21, 1:15 p.m. – Anthem Insurance Companies Inc., Indianapolis, says it has filed a plan for converting the company to a stock charter, from a mutual charter, with the Indiana Department of Insurance.
A mutual insurer is owned by its policyholders. A stock company is owned by its stockholders.
Anthem says it wants to convert, or demutualize, so it will have an easier time raising capital from investors.
The demutualization is subject to approval by Anthem’s policyholder-owners as well as state insurance regulators.
Anthem says it will compensate its policyholder-owners for their current ownership interest by giving them the full value of the company.