[tdees40]

I'm genuinely fascinated by this comment. You're saying that mutuals offer lower prices (not typically true), but they were out-competed by private companies? I'm not sure that makes sense. In my sector (life insurance), there's no real pattern to mutual vs public company pricing, but maybe it's different in auto insurance, for instance.

[prklmn]

It goes beyond pricing. Mutual insurance policy owners were paid dividends based on principle investment. Berkshire pays dividends to shareholders, i.e. Warren Buffet, while policy holders get nothing but insurance coverage.

[jonknee]

> Berkshire pays dividends to shareholders

Berkshire has never paid a dime of dividends to anybody.

[austenallred]

Buffet decoupled investments from insurance, because he thought (IMO rightly) they should be different products. And his companies only win to the degree that consumers choose them.

That’s a great thing.

[adventured]

Not only has Berkshire never paid dividends, as another comment noted, Buffett decided three decades ago to give all of his wealth away to the benefit of less fortunate people.

What's your next premise?