A mutual insurance company is owned and controlled by whom?

A mutual insurance company is owned and controlled by its policyholders. This structure means that individuals who purchase policies from the mutual insurance company have voting rights and a say in the management and direction of the company. When policyholders collectively own the company, any profits that are generated can be returned to them in the form of dividends or premium reductions, rather than being distributed to shareholders as in the case of stock insurance companies.

This configuration fosters a sense of community and shared interest among the policyholders, as they are directly invested in the company's performance. The mutual company operates with the primary goal of providing insurance protection to its members, rather than maximizing profits for outside investors. This mutual ownership structure enhances the alignment of interests between the company and its policyholders.