MONY

MONY began life in the 1840s as the Mutual Life Insurance Company of New York, one of the era's prominent mutual insurers created when life insurance was still a new financial tool in the United States.[1] For much of the 19th and 20th centuries, MONY's brand was built on participating whole life sold through career agents, with dividends and conservative investing positioned as proof of stability through wars, depressions, and booms.[2]

The late 1990s brought a defining shift: MONY demutualized and moved into a stock-company framework, reflecting a broader industry trend toward accessing capital markets and modernizing distribution.[2] In the 2000s, MONY became part of the AXA group, tying the historic New York franchise to a global insurer and its enterprise risk management capabilities.[2]

By the 2010s, prolonged low interest rates and higher capital requirements made legacy guarantee-heavy books less attractive for large diversified groups. In that environment, AXA agreed to sell the MONY Life portfolio to Protective Life, illustrating a common solution for mature blocks: transfer to a specialist platform designed to manage long-duration liabilities in runoff.[3] Regulatory profiles reflect these ownership and naming transitions-typical steps when older mutual-era franchises are repositioned for the next phase of servicing and risk management.[1][3]

Sources: [1] https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?doFunction=getCompanyProfile&event=companyProfile&naic=66370 ; [2] https://en.wikipedia.org/wiki/MONY_Life_Insurance_Company ; [3] https://www.axa.com/en/press/press-releases/axa-signs-an-agreement-to-sell-the-mony-portfolio-to-protective-life-corporation