Without shareholders and shares, members are both insurance companies and business participants. Members * * * jointly contribute to establish corresponding insurance funds, undertake risk compensation and manage operating costs.
Members * * * share the risk. In case of loss, members need to share the risk and make compensation in the insurance fund.
Emphasize the spirit of mutual assistance. Mutual insurance companies pay attention to mutual assistance and cooperation among members to reduce risks and losses, and provide additional value-added services through social networks of * * * *.
Member autonomy. The management mode of mutual insurance companies is usually managed by members themselves, and each member has equal right to speak and participate in decision-making.
Mutual insurance company is one of the main organizational forms of the insurance industry from the primary stage to maturity and prosperity. The insurance industry in western countries mostly started again after the Second World War. By the 1960s, it had reached a considerable scale. According to the statistics in the late 1960s, among the 10 1 organizations in the global international life insurance market, there are 153 mutual insurance companies in the United States, 27 in Britain, 38 in West Germany, 6 in France, 13 in Canada and/kloc-0 in Japan.
It can be seen that mutual insurance companies occupy a considerable proportion. Among them, Japanese mutual insurance companies account for 76% of the national life insurance companies. According to the statistics of 1962 American life insurance industry, the total business volume of all mutual insurance companies is $233.4 billion, accounting for 60% of the total life insurance business volume in the United States. It can be seen from the development of insurance industry in western countries that mutual insurance companies are one of the "dark horses".