Mutual Life-Assurance Company

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Mutual Life-Assurance Company

A life insurance company owned by its own policyholders. That is, policyholders elect the board of directors, and profits, if any, are distributed to policyholders each year in proportion to their individual exposures to the company. Many insurance companies are structured in this way.
References in periodicals archive ?
He explains that the with-profit funds trace their origins back to the early 1900s when mutual life assurance companies invited policyholders to pay a little bit extra to participate in the profits of a mutual society.
Financier Ken Murray has his sights on small to medium-sized building societies and mutual life assurance companies with net assets of pounds 100 million to pounds 2.
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