What is the term for a company that writes insurance primarily for its own members?

The correct term for a company that writes insurance primarily for its own members is a mutual insurance company. This type of company is owned by its policyholders, who are also its insured members. The primary purpose of a mutual insurance company is to provide insurance coverage to these members rather than to generate profit for shareholders, as would be the case with a stock insurance company.

Mutual insurance companies often distribute any surplus earnings back to the policyholders in the form of dividends or reduced future premiums. This structure aligns the interests of the company with those of its members, making it a member-focused entity designed to serve their insurance needs.

In contrast, stock insurance companies are owned by shareholders and aim to make a profit on behalf of those shareholders, rather than focusing primarily on the needs of policyholders. A fraternal benefit society does provide benefits and services to its members, typically as part of a social or fraternal organization, but it operates differently than a mutual insurance company. Additionally, a reciprocal exchange is a type of insurance arrangement where members exchange insurance contracts among themselves, which is also distinct from the mutual insurance model.