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equitable life & casualty insurance company
A Guide to Provident Mutual Life Insurance Company
Last week City Council formally approved the sale of a large portion of the holdings of the struggling Provident Mutual Life Insurance Company including the buildings and surrounding real estate on the former site of its corporate campus. Ironstone Real Estate Partners was in talks with the city concerning the transaction, which it hopes will lead to the conversion of the property into a center for medical care. The acquisition of the property represents the latest turnaround for a company whose earnings have soured in recent years. Ironstone's stock price has more than halved in value over the past year and is now worth only $2.75 per share. The acquisition of the real estate by the life insurance giant marks yet another major turn in a business that has seen better days.
When the acquisition is completed it will mark another remarkable turn in the fortunes of one of the nation's largest life insurers. linkedin of the property represents a major turning point for Provident Mutual Life Insurance Company, which has been stuttering in recent years as it braces for health care reform. The purchase of the former corporate campus by the insurance giant promises to be a major feather in its cap as it enters a new chapter in its growth story. In addition, the acquisition is the latest example of how philatelic property can be used to pump up neighborhood businesses. A string of successful deals in the area including the purchase of two historic estates have helped to solidify the downtown Philadelphia area as a hot real estate destination.
The acquisition comes as part of a major renovation effort at the former Provident Mutual Life Insurance campus in the northeast Philadelphia neighborhood. The purchase of the property represents the latest development in the complex of high-rise residential towers that have been built across the busy intersection of Mt. amingo Place.
The purchase of the property represents a major turning point for Provident Mutual Life Insurance Company, as it braces for reform legislation. Philadelphia's leading public health campus has been consumed with efforts to bring the aging population under control. Under the leadership of former Gov. Ed Rendell (D-PT) and former Philadelphia mayor Michael Nutter, the city has worked hard to draw in young families and create more family-oriented communities. The purchase of the property, however, signifies that Provident hopes to be a player in the fast-growing but competitive public health campus industry.
The purchase price of the property represents an investment that will yield returns that are yet to be seen. For many life insurance policyholders, this represents an opportunity to cash in on the potential for significant premiums without having to worry about the impact of a changing environment. Philadelphia residents have been vocal in their calls for higher premiums and renewal of existing policies in light of recent federal budget cuts to federal Medicaid programs. By acquiring provident mutual, those same policyholders will have access to an investment that will pay out even in tough times.
What makes provident mutual different from other types of life insurance policies? Unlike other policies, there is no investment component tied to the purchase of provident insurance. Instead, policyholders are provided an insurance facility that is the result of investments that were made on behalf of policyholders. The value of these investments is based upon their perceived risk of loss. The higher the perceived risk of loss, the greater the payout on a policyholder's investment.
A prime example of such an investment facility is a building constructed with the assistance of provident funds. In the case of a building that is being constructed, such funds can be used to finance part or all of the total cost. If the project is not successful, the unused funds can be returned to the investors in a form of a dividend. Investors in provident building are not only able to receive regular payments but also have the option of cashing out their interests in the future. If the project does not meet the projected performance goals, the funds can be liquidated and reinvested in other properties.
As mentioned above, provident mutual life insurance company is one of those entities that does not need to meet specified asset restrictions as is the case with many other policies. As long as the underwriter maintains a minimum specified ratio of assets to liabilities, such companies can issue policies even to individuals who do not meet the asset/liability ratio requirements. One of the benefits of purchasing a policy from such an organization is that they are rarely affected by the ups and downs of the business cycle. linkedin affecting traditional policies can often have a negative impact on a company's stock price and share price. On the other hand, if the company is thriving, it is more likely that the stock prices will increase.
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