1.   As mutual companies, the accumulated profits have traditionally been reserved for the benefit of policyholders.

2.   As a first step, John Hancock, like Prudential and some of the others, will distribute accumulated profits among policyholders.

3.   In response to a question from Suter, a Prudential consultant said customers would be compensated on the basis of their contributions to the accumulated profits.

4.   Previously when mutual companies wanted to sell shares, they had to divide the accumulated profits of the company among policyholders.

5.   The accumulated profits will be apportioned by the size and type of policy and the amount of time premiums have been paid.

6.   Their share of the accumulated profits, he said, will be held in trust and eventually turned over to the state if it goes unclaimed.

7.   Traditionally, when mutual insurers wished to go public, they had to distribute their accumulated profits to policyholders.

8.   Traditionally, when insurers have switched to public ownership they have used their accumulated profits as a starting point in that calculation.

9.   Under New York law, a mutual company is required to distribute its accumulated profits or equity to its policyholders when it converts to shareholder ownership.

10.   Reserves include accumulated profits or capital gains retained in the business.