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A reciprocal inter-insurance exchange or simply a reciprocal in the United States is an unincorporated association in which subscribers exchange insurance policies to pool and spread risk. For consumers, reciprocal exchanges often offer similar policies to those offered by a stock company or a mutual insurance company.
A mutual insurance company is an insurance company owned entirely by its policyholders. It is a form of consumers' co-operative . Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums.
Demutualization or demutualisation is the reverse process, whereby a mutual may convert itself to a joint-stock company. This process became increasingly common in the 1980s as a result of deregulation. In the United States, conversion may be full, to a public company, or in many states, partial, to a mutual holding company.
It's easy to get confused about what the terms "mutual fund" and "index fund" refer to. The two terms refer to distinct categories: "mutual fund" refers to a fund's structure, whereas "index fund ...
Here are some key tax differences between mutual funds and ETFs: Capital gains distributions: Mutual funds: Mutual funds are required to distribute capital gains to their shareholders when they ...
Reciprocal exchanges are unincorporated associations that lack legal personality, and thus reciprocals have no owners (unlike mutual insurers which are owned by policyholders). Therefore, The Farmers Exchanges do not own FGI, and neither FGI nor its ultimate parent, Zurich Financial Services Ltd., own the exchanges.
Mutual fund fees can be up to 1% per year, which can take a bite out of your returns. ETFs are typically much more cost efficient than mutual funds due to their passive managed nature.
In a horizontal business group there is no central holding company – the group companies are connected through various formal or informal ties, including reciprocal shareholding. Thus, a horizontal business group is a rather loose confederation of firms. Coordination between them is achieved mainly by mutual adjustment and standardization of ...