DEMUTUALISATION

The process of changing the legal structure of a company from a mutual form of ownership to a stock form of ownership: recently very common with building societies and insurance companies.

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Demutualisation involves the conversion of a not-for-profit association owned by its members into a for-profit company owned by its shareholders. London Stock Exchange Glossary

преобразование общества взаимного страхования в акционерную страховую компанию; акционирование совместных страховых компаний