Both companies are highly rated mutual insurers formally owned by their policyholders.

Vybor is formally owned by the local administration, a legacy from Soviet times.

After 1917, the fort was formally owned by Russian Navy, which maintained storage facilities and a repair shop there.

Such mutual insurance companies are formally owned by their policyholders.

Until now, the company has operated as a mutual company, a kind of cooperative formally owned by policyholders.

For decades, Prudential has been formally owned by its policyholders and, in effect, run as a cooperative.

By the end of the decade there were nine companies formally owned.

Instead, the goldfields were primarily on "public land", meaning land formally owned by the United States government.

The transactions were the final steps in Prudential's transformation from a company formally owned by its policyholders to one that is publicly traded.

The others had been mutual companies, formally owned by their policyholders, with sluggish performance and only the promise of good results.