Better Call Saul

A mutual insurance company can convert to a mutual insurance holding company structure by electing to do so under the applicable insurance statutes, and obtaining the necessary approvals of members, board of directors and insurance regulators. With this legalese in mind, note that AmFam is looking to convert from a mutual insurance group to a mutual holding company, which would allow it “to acquire consumer products adjacent to insurance” (think: companies in the IoT space).