- mutual
- mutual mu‧tu‧al [ˈmjuːtʆuəl] adjective [only before a noun]FINANCE relating to financial institutions, for example some insurance companies and, in Britain, building, where there are no shareholders but where investors receive their share of profits in other forms:
• The insurance company plans to drop itsmutual status to become a public company.
— mutual noun [countable] :• In insurance, two forms of companies coexist in the UK, mutuals and public liability companies.
— see also demutualize* * *
Ⅰ.mutual UK US /ˈmjuːtʃuəl/ adjective [before noun]► used to describe something that is done or felt by all or both people in a group: by mutual agreement/consent »He has now left the company by mutual agreement.
mutual benefit/advantage »Firms often do business together for purposes of mutual benefit.
mutual respect/understanding/interest »Ours will be a partnership based on fairness and mutual respect.
»a mutual decision
► FINANCE used for describing a financial organization that is owned by its members, rather than by shareholders: »We are a mutual building society and that means we can pay good savings rates to customers instead of paying out dividends to shareholders.
Ⅱ.mutual UK US /ˈmjuːtʃuəl/ noun [C] FINANCE► (also mutual company) a financial organization such as a building society that is owned by its members, rather than by shareholders: »Some mutuals converted to banks.
Financial and business terms. 2012.
