Germania Fire Insurance Co. - Stock Certificate - Insurance

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Seller: labarre_galleries ✉️ (2,173) 100%, Location: Portsmouth, New Hampshire, US, Ships to: WORLDWIDE & many other countries, Item: 183962961184 Germania Fire Insurance Co. - Stock Certificate - Insurance. Insurance Stock. Female figure with crown and sword at throne. Scarce!!! The Germania Fire Insurance Company was founded in 1859, counting many prominent German-born New Yorkers among its executives and directors. (Landmarks Preservation Commission, Manhattan) A mutual insurance company is an insurance company owned entirely by its policyholders. 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. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders. The concept of mutual insurance originated in England in the late 17th century to cover losses due to fire. The mutual/casualty insurance industry began in the United States in 1752 when Benjamin Franklin established the Philadelphia Contributionship for the Insurance of Houses From Loss by Fire. Mutual property/casualty insurance companies exist now in nearly every country around the globe. The global trade association for the industry, the International Cooperative and Mutual Insurance Federation, claims 216 members in 74 countries, in turn representing over 400 insurers. In North America the National Association of Mutual Insurance Companies (NAMIC), founded in 1895, is the sole representative of U.S. and Canadian mutual insurance companies in the areas of advocacy and education. The "mutual holding company" structure was first introduced in Iowa in 1995, and has spread since then. There have been concerns that the mutual holding company conversion Item ordered may not be exact piece shown. All original and authentic.
  • Condition: Used
  • Condition: Very Good

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