Office of State Treasurer Denise L. Nappier

      Insurance Company Demutualization    

The Connecticut State Treasurer's Office "Big List" contains names of persons for whom it has temporary custody of unclaimed proceeds from the demutualization of insurance companies.

Demutualization is the process that an insurance company undergoes in order to change its ownership structure from mutual ownership by policyholders to stock ownership by shareholders. In recent years, some of the nation’s largest insurance companies have changed their ownership structure in this way.

As a policyholder, you may be entitled to receive a stock or cash distribution as a result of your insurance company’s demutualization. Your insurance company is obligated by law to inform you of your eligibility. Many Connecticut residents have received such notification from their insurance company during the past few years.  Please note that neither the policies nor the premiums were affected by the process of demutualization. 

However, if your insurance company has not been successful in locating you, the insurance company is obligated by law to turn over the value of your demutualization proceeds to the State Treasurer's Office for safekeeping until such time as the policyholder may claim them.  

To find out if the state is holding demutualization proceeds for you, check out the Connecticut Treasury Big List of Names.

To watch a WVIT-TV news report about demutualization click here.

The State Treasurer’s Office urges individuals owning policies in any insurance company that has undergone the demutualization process to contact the company directly to be certain you receive any money you are entitled to.

For Frequently Asked Questions click here.