California insurance regulators have been able to shore up a mutual California homeowner's insurer weakened by the housing bust through a complex mutual-to-stock conversation.
The demutualization was California's first since 1997 and its first P&C demutualization since 1985, according to Robert Hogeboom, an insurance regulatory lawyer at Barger & Wolen in Los Angeles.
Hogeboom and his partner Dennis Quinn worked 15 months on the deal to covert Merced Mutual Insurance Company based in Atwater to a stock insurer.
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