Macabees seeks state approval to demutualize and be acquired by Royal Insurance. (Maccabees Mutual Life Insurance Co., Royal Financial Services Inc.)

PR Newswire | October 6, 1988 | Copyright

MACABAEES SEEKS STATE APPROVAL TO DEMUTUALIZE

AND BE ACQUIRED BY ROYAL INSURANCE

SOUTHFIELD, Mich., Oct. 6 /PRNewswire/ -- Maccabees Mutual Life Insurance Company announced today that it will file a plan with the Michigan Insurance Commissioner seeking approval for conversion to a stock company.

Under the plan, Maccabees will be purchased by Royal Financial Services, Inc., a subsidiary of Royal Group, Inc. which is the U.S.-based subsidiary of Royal Insurance Holdings, plc, of London, England.

As a preliminary step, ...

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