Mutual insurers are owned by policyholders, reinsurers participate in sharing risks, and mutual insurance firms have a significant market share globally.
Mutual insurers are companies where policyholders are the owners, and profits are typically retained to reduce future insurance premiums. Reinsurers participate in insuring other companies, sharing risks, and receiving part of the premium.
Examples of well-known mutual insurance firms include Northwestern Mutual, State Farm Insurance Company, and Länsförsäkringar.
Globally, the mutual insurance market share was just over 26% in 2015, with many Western European countries having market shares of over 45%.
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