The Medical Inter-Insurance Exchange (MIIX) converted from a reciprocal exchange to a stock company, on August 4, 1999. At the same time, MIIX completed an initial public offering of stock and is now listed on the New York Stock Exchange as The MIIX Group, Inc., under the symbol "MHU." In order to understand the necessity and process of this transformation, a review of the history and operation of MIIX is helpful.