A plan from CUNA Mutual Group for a new mutual ownership structure recently received approval from the Iowa Insurance Commissioner.
The commissioner's approval was the final step needed for the reorganization to move forward, according to the company. CUNA Mutual said it has targeted Jan. 31, 2012 as the date for the new structure to take effect.
On Sept. 7, 93% of CUNA Mutual's policyholders voted to approve organizing CUNA Mutual Insurance Society from a mutual insurance company into a mutual insurance holding company.
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