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Article: Insurer CEOs discuss how industry has dealt with crisis; During panel, they debated the merits of mutual vs. stock firms.(News)(Discussion)
- Article from:
- Investment News
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Darla Mercado
A panel of life insurance company chief executives last week assessed how the industry has dealt with the financial crisis, debating the merits of mutual companies versus stock companies.
"If you're talking about business models and it's about long-term guarantees, then the mutual is superior, said Theodore A. Mathas, chairman and chief executive of New York Life Insurance Co.
He, along with Robert E. Chappell, chairman and chief executive of The Penn Mutual Life Insurance Co., and Donald A. Guloien, president and chief executive of Manulife Financial, were participants on the panel "Executive Viewpoints on the New ...