Yes. Mutual life insurance companies had only been mutual insurance companies for about 30 years before they became demutualized 12 years ago. They became mutualized in the 1960s to protect themselves against takeovers by foreign companies. A company called Mutual Life at the time was an exception to the rule because it has always been a mutual company.
Those companies, which had been stock companies until the 1960s and then became mutual companies to protect themselves against takeovers, felt in the 1990s that they were sufficiently large and sufficiently strong financially to face those foreign companies. They even started to buy companies abroad. Since they no longer needed to be mutualized for protection, they became stock companies again.