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December 07, 2001 at 07:00 PM
NU Online News Service, Dec. 7, 4:44 a.m. – The Principal Financial Group Inc., Des Moines, Iowa, will begin informing eligible policyholders Dec. 10 about their demutualization compensation.
Principal is mailing forms that will describe the form and amount of compensation going to each policyholder.
Any policyholder who is receiving shares of stock should get a written confirmation of share ownership, Principal says.
Principal, formerly a policyholder-owned mutual, recently converted to a stock charter and sold some shares of stock to the public.
The company says it is compensating the policyholders for their loss of ownership rights by paying them the full pre-conversion value of the company in the form of stock, cash and policy credits.
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