Provident Mutual Life Insurance; Mutual-to-Stock Conversion [31 Pa.B. 7085] The following applications and requests for plan approval of a sponsored mutual-to-stock conversion, including the subsequent acquisition of control, have been received by the Insurance Department (Department).
Provident Mutual Life Insurance Company (Provident), a domiciled mutual life insurance company of this Commonwealth, submitted a plan of conversion which provides for conversion from a mutual life insurance company to a stock life insurance company. The filing, received on December 14, 2001, was made under the Insurance Mutual-to-Stock Conversion Act (40 P. S. §§ 911-A--929-A).
In furtherance to the transaction, Nationwide Financial Services, Inc. (Nationwide Financial), a Delaware domiciled corporation, submitted an agreement and plan of merger to acquire control of the stock of Provident upon Provident's conversion to a stock life insurance company. The acquisition of control is proposed to be achieved through the merger of Eagle Acquisition Corporation, a corporation of this Commonwealth wholly-owned by Nationwide Financial and Provident. The filing, received on December 14, 2001, was made under the Insurance Holding Companies Act (40 P. S. §§ 991.1401--991.1413).
Persons wishing to comment on the grounds of public or private interest are invited to submit a written statement to the Department within 30 days from the date of publication of this notice in the Pennsylvania Bulletin. Each written statement must include the name, address and telephone number of the interested party, identification of the application to which the statement is addressed and a concise statement with sufficient detail and relevant facts to inform the Department of the exact basis of the statement. Written statements should be directed to Robert Brackbill, Chief, Company Licensing Division, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120; fax (717) 787-8557; e-mail rbrackbill@state.pa.us.
Individuals may obtain a copy of the plan of conversion, upon request, by calling toll-free at (866) 541-9692, Monday through Friday from 8 a.m. to 6 p.m., or by visiting the Provident Mutual website at www.providentmutual.com.
Additionally, copies of the applications are available for review at the Department by contacting Ken Bradley, (717) 787-0877, fax (717) 787-8555, e-mail kbradley@state.pa.us.
The Department plans to conduct a public informational hearing. The exact date and location will be announced when scheduled.
M. DIANE KOKEN,
Insurance Commissioner[Pa.B. Doc. No. 01-2345. Filed for public inspection December 28, 2001, 9:00 a.m.]
