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Mutual of Omaha Insurance Company is an American Fortune 500 mutual insurance and financial services company based in Omaha, Nebraska. [1] Founded in 1909 as Mutual Benefit Health & Accident Association, Mutual of Omaha is a financial organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States.
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Mutual of Omaha is a well-known insurance company that has existed since 1909. It sells a wide range of policies, including Medigap. Of the 10 different Medigap policies, Mutual of Omaha offers ...
The Mutual of Omaha Insurance Company has also investigated demutualization, even though its form of ownership is embedded in its name. It is noted that other formerly mutual companies such as Washington Mutual , a former savings and loan association , have been allowed to demutualize and yet retain their names.
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Skutt joined Mutual of Omaha in 1969 as a secretary and tax counsel. In 1984 he succeeded his father as the company's chief executive. In 1986 he again succeeded his father and became chairman. During his tenure the company expanded its range of products and expanded into new markets. He retired in 1998.
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.