Last Updated: December 7, 2016
Information on the Restructuring of American Family Mutual Insurance Company to a Mutual Holding Company and a Stock Insurance Company
On June 8, 2016, American Family Mutual Insurance Company (AFMIC) filed a proposed plan of restructuring that, if approved by OCI and AFMIC's policyholders, would result in the formation of a mutual holding company, American Family Insurance Mutual Holding Company (AFI MHC), and the conversion of American Family Mutual Insurance Company from a mutual insurance company to a stock insurance company (American Family Mutual Insurance Company S.I., hereinafter referred to as Converted AFMIC).
Wisconsin statutes allow for a mutual insurance holding company to convert to a stock insurance company by placing the mutual policyholders' ownership rights in a mutual holding company that then becomes the owner of the newly converted stock insurance company. The proposed transaction must be filed with and approved by OCI before it can be completed. The restructuring plan filed by AFMIC, along with related correspondence and other statutorily required information, will be placed in this section of OCI's Web site.
Please direct any questions concerning this filing to: Kristin Forsberg at (608) 266-9896 or
kristin.forsberg@wisconsin.gov.
Please Note: A public hearing on the proposed mutual holding company plan, and the transactions contemplated thereby, under ch. 227 and ss. 601.62 and 644.07, Wis. Stat., will be conducted on November 16, 2016, at 2:00 p.m. at the following location [please see the Hearing Notice posted below (Exhibit C-1) for further details]:
Office of the Commissioner of Insurance
125 South Webster Street
Madison, WI 53703
American Family Mutual Insurance Company's policyholders and members of the public are invited to testify at the public hearing. Since time for oral testimony may be limited by the Hearing Examiner to accommodate the number of speakers, American Family Mutual Insurance Company's policyholders and members of the public are invited to submit written comments, as well as, or in lieu of, oral testimony.
Interested persons are encouraged to submit written comments to OCI at any time prior to the public hearing, and for an additional week after the public hearing (up until, but no later than, November 25, 2016). Written comments may be directed to the attention of:
American Family MHC Restructuring Comments
Office of the Commissioner of Insurance
P.O. Box 7873
Madison, WI 53707-7873
Comments may also be e-mailed to OCI at:
OCIAmFamMHCPlan@wisconsin.gov.
Application Materials Filed with OCI:
Application Correspondence:
Hearing Documents:
Public Comments:
Final Decision: