Economical Insurance says it will pursue becoming a publicly traded company, the first mutual property and casualty (P&C) insurer to make such a move under new demutualization rules.
Waterloo, Ont.-based Economical said on Tuesday that it would seek an eventual initial public offering in an effort to compete with other public companies that have wider access to capital either from public markets or large foreign owners.
Right now, the company is a mutual insurer, meaning it is owned and governed by its members, who are mutual policy holders with the company.
JACQUELINE NELSON –Â Globe and Mail –Â Nov. 03, 2015.
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