The Development of the Mutuality Principle in the Insurance Business

The mutual insurance society as a form of enterprise has faced worldwide structural changes during the last couple of decades. Nevertheless, both organisational forms on the insurance market, mutual insurance societies and insurance joint stock companies, still coexist. The present publication examines and evaluates the development of the mutuality principle in the insurance business in an international context. The results of the various country studies suggest a gradual weakening and reinterpretation of the mutuality principle over time.

Johann Brazda is Professor for Economics at the University of Vienna, Austria.