In a mutual company, who are the owners of the company?

In a mutual company, the owners are the policyholders. This ownership structure is distinct from that of a stock company, where ownership is held by stockholders who have invested in the company. In a mutual company, policyholders are essentially members and have a vested interest in the company, as they share in the profits and benefits derived from the company's operations.

Mutual companies operate under the principle that the primary purpose of the company is to provide insurance coverage to its members rather than to generate profit for external investors. Policyholders might receive dividends or reduced premiums based on the company's profitability, further emphasizing their role as both customers and owners. This aligns with the core concept of mutuality, where the focus is on serving the interests of the policyholders rather than shareholders.

Within this context, the other answer choices do not represent ownership in a mutual company. Stockholders are associated with stock companies, management refers to the operational team running the company, and regulators are government entities that oversee compliance and regulatory matters, but they do not own the company. Hence, identifying policyholders as the owners highlights the unique nature of mutual insurance and its alignment with member interests.