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A mutual (cooperative) insurance company is a mutual endeavor between the company, its policyholders and the local community. We are proud of our strong local ties and the important contributions made by our company to the future growth of our community in the form of taxes, investments and leadership.
Types of Insurance Companies. The two most common types of privately owned insurance companies are stock and mutual. A stock insurance company builds funds by selling company stock and is owned by its stockholders.Mutual companies are owned by the policyholders, and funds are raised through premiums.eciprocal Insurance. The term reciprocal indicates a mutual correspondence or a return in kind. Reciprocal insurance exchanges are associations that agree to share risk equally among its members. Members agree to pool risk by acknowledging a reciprocal agreement of indemnity.