Mutual Insurance Company

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Mutual Insurance Company

An 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.
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Some top (former) mutual insurance companies, including Metropolitan Life and Prudential, have demutualized to become shareholder-owned public companies.
The National Association of Mutual Insurance Companies sees growth in both membership and share of the property/casualty market written by its members.
National Association of Mutual Insurance Companies: 2006 Commercial Lines Underwriting Seminar, Match 1-3, The Sofitel Chicago Water Tower, Chicago, www.namic.org.
For more than 170 years the Harford Mutual Insurance Companies have been providing their clients with insurance coverage tailored to protect their businesses.
Mutual insurance companies had $4.9 trillion of life insurance in force in 2010.
In spite of recent demands by seven EU mutual insurance companies, efforts towards establishing a European statute seem to have been abandoned following a September Parliamentary question by French MEP Corinne Lepage (ALDE).
While the goal of mutual insurance companies as a whole is to provide its shareholders with a profit, handing back a dividend is not common within the industry.
Kirk Schmidt, director of finance at the Missouri Department of Insurance, said that if approved, the new audit rule would apply to privately held insurance carriers and mutual insurance companies. States will need to decide whether to accept the audit as a statute or a regulation.
Priority Data created the program to handle the unique packaging approach of township mutual insurance companies in Minnesota.
The National Association of Mutual Insurance Companies has presented its inaugural Legislator of the Year Award to House Financial Service Committee Chairman Michael G.
Additionally, Blanchard closed a 16,000 square-foot, long-term lease on behalf of Atlantic Mutual Insurance Companies at 465 South Street.

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