Mutual insurance company


Also found in: Financial, Wikipedia.
one which does a business of insurance on the mutual principle, the policy holders sharing losses and profits pro rata.

See also: Mutual

References in classic literature ?
The American has dwindled into an Odd Fellow -- one who may be known by the development of his organ of gregariousness, and a manifest lack of intellect and cheerful self-reliance; whose first and chief concern, on coming into the world, is to see that the almshouses are in good repair; and, before yet he has lawfully donned the virile garb, to collect a fund for the support of the widows and orphans that may be; who, in short ventures to live only by the aid of the Mutual Insurance company, which has promised to bury him decently.
The American has dwindled into an Odd Fellow--one who may be known by the development of his organ of gregariousness, and a manifest lack of intellect and cheerful self-reliance; whose first and chief concern, on coming into the world, is to see that the almshouses are in good repair; and, before yet he has lawfully donned the virile garb, to collect a fund to the support of the widows and orphans that may be; who, in short, ventures to live only by the aid of the Mutual Insurance company, which has promised to bury him decently.
Best Company, the global rating agency for the insurance industry, has upgraded the financial strength rating to A+ (Superior) from A (Excellent) and the issuer credit ratings to “aa‐“ from “a+” of Vermont Mutual Insurance Company (Vermont Mutual) and its two fully reinsured subsidiaries, Northern Security Insurance Company, Inc.
On 21 October, seven mutual insurance companies based in France, Germany, the UK, Italy and Belgium asked the Commission to reopen the file: "A European statute for mutual insurance companies would reinforce European social protection, in the context of member states' disengagement," said the French state education mutual insurance company MGEN.
To accommodate recent growth, the Glastonbury, CT, branch of the Greater New York Mutual Insurance Company has relocated to larger office space at 180 Glastonbury Blvd, from its previous location at 95 Glastonbury Blvd.
Farm Bureau Mutual Insurance Company announces it has acquired Des Moines-based Crop1 Insurance.
In Letter Ruling (TAM) 200126008, the IRS concluded that a mutual insurance company may deduct a demutualization payment made to its state's treasury in the year in which it made the payment, based in large part on the origin-of-the-claim doctrine.
Several years later, in an attempt to save Philadelphia from the threat of fire, Franklin gathered citizens to address the need of protection against fire for homeowners--thus creating the Philadelphia Contributionship, the first mutual insurance company to insure members' property.
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