Securitized Surplus Notes A Growing Trend: NAMIC

One of the challenges mutual insurance companies face is the difficulty of raising capital, especially when compared to publicly traded companies. But that barrier may be breaking down, as more mutuals begin to take advantage of a growing trend: securitized surplus notes.

“From the balance-sheet point of view, certainly the primary distinction between a mutual and a stock company is the constraints the mutual has when it comes to raising capital,” said Chuck Chamness, the newly named president and chief executive officer at the National Association of Mutual Insurance Companies.

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