Insurers have generally earned poor returns for a simple reason: They sell a commodity-like product. Policy forms arestandard, and the product is available from many suppliers,some of whom are mutual companies ("owned bypolicyholders rather than stockholders) with profit goals that are limited. ...
Stock life insurance companies issue stock and are owned by their stockholders. Mutual companies are legally owned by their policyholders and consequently do not issue stock. Stock life insurers can be owned by other stock life insurance companies, mutual life insurance companies, or companies out...
Stock life insurance companies issue stock and are owned by their stockholders. Mutual companies are legally owned by their policyholders and consequently do not issue stock. Stock life insurers can be owned by other stock life insurance companies, mutual life insurance companies, or companies out...