Farm Bureau Mutual Reorganization
In September, Farm Bureau Mutual Insurance Company announced a plan under which it will reorganize into a mutual holding company structure. That plan was approved by the company's policyholders at a meeting on October 30, and by the Iowa Insurance Commissioner on December 16. The terms of existing policies will not be impacted by the reorganization, and related membership interests and rights under policyholders’ contract of insurance will remain unchanged. The new structure will be effective January 1, 2010.
Mutual Holding Company Conversion - At a Glance