Ohio National Demutualization

In today's BetterWealth episode, Dan and I discuss Ohio National's decision to go from a mutual company to a stock company which is called a demutualization process. We talk about the pros and cons, as well as, discuss the details we have given to date.

What is happening?

If approved, Ohio National will demutualize and become a stock-owned subsidiary of the Canadian company Constellation Insurance Holdings, Inc.
Constellation will purchase Ohio National in its entirety for $1 Billion.
$500 million will go to Ohio National participating policyholders to buy out their ownership interest in the company
The remaining $500 million will be for strategic business purposes
The proposed transition requires regulatory and policy holder approval
The ultra-low interest rate environment is something these 100+ year old companies haven’t faced at length before
Large old companies are generally slow to adapt to new trends
New technology-driven companies are increasing competition
The recent announcement suggests that this transaction will strengthen the company’s financial position, enhance its market position, and give it the necessary resources to facilitate future growth.

**This does not mean other mutual companies are headed in the same direction.

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