Minnesota Life
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The Minnesota Life Insurance Company was founded in St. Paul, Minnesota in 1880 as a mutual insurance company. It was originally organized as a mutual because a general distrust of stockholder-owned businesses prevailed at that time and there was a shortage of people willing to buy stock.
In 1998, Minnesota Life Insurance Company converted from a mutual to a stock company and concurrently established a mutual life insurance holding company. The company, in that process, became a wholly owned subsidiary of Securian Financial Group, Inc.
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