Final answer:
Mutual insurance companies are owned by policyholders, do not aim to generate profits, and are akin to credit unions in the banking sector.
Explanation:
Mutual insurance companies are formed by groups of policyholders who are also the owners of the company. These companies do not have shareholders but aim to cover all claims and not generate profits. In the insurance sector, mutual companies are similar to credit unions in the banking industry.
Learn more about Mutual insurance companies here:
https://brainly.com/question/44259565
