Union Central Life Insurance Company
Encyclopedia
Union Central Life Insurance Company was founded in Cincinnati, Ohio
in 1867. It was established as a mutual insurance
company.
Among its founders were Norman Wait Harris
, founder of Harris Bank
.
In 2005, it formed a mutual insurance
holding company the Union Central Mutual Holding Company and converted the life insurance company to a stock company. On January 1, 2006 that holding company merged with the Ameritas Acacia Mutual Insurance Holding Company to form the UNIFI Mutual Holding Company
.
Cincinnati, Ohio
Cincinnati is a city in the U.S. state of Ohio. Cincinnati is the county seat of Hamilton County. Settled in 1788, the city is located to north of the Ohio River at the Ohio-Kentucky border, near Indiana. The population within city limits is 296,943 according to the 2010 census, making it Ohio's...
in 1867. It was established as a mutual insurance
Mutual insurance
A mutual insurance company is an insurance company which has no shareholders but instead is owned entirely by its policyholders. The primary form of financial business set up as a mutual company in the United States has been mutual insurance. Under this idea, what would have been profits are...
company.
Among its founders were Norman Wait Harris
Norman Wait Harris
Norman Wait Harris was an American banker. He founded Chicago-based N.W. Harris & Co., the predecessor of Harris Bank as well as its affiliate Harris, Forbes & Co. and later Harris, Hall & Co.-Biography:...
, founder of Harris Bank
Harris Bank
BMO Harris Bank is a subsidiary of Montreal-based Canadian bank Bank of Montreal. Today the bank holding company is formally named BMO Bankcorp, Inc....
.
In 2005, it formed a mutual insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
holding company the Union Central Mutual Holding Company and converted the life insurance company to a stock company. On January 1, 2006 that holding company merged with the Ameritas Acacia Mutual Insurance Holding Company to form the UNIFI Mutual Holding Company
UNIFI Companies
As a mutual holding company, UNIFI Mutual Holding Company, commonly referred to as UNIFI Companies is the parent company, which owns Ameritas Holding Company. Ameritas Holding Company, in turn, owns Ameritas Life Insurance Company, First Ameritas Life Insurance Corp...
.