Municipal Mutual Insurance (MMI) is an

insurance company Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

registered in the United Kingdom. It was established by

local authorities Local government is a generic term for the lowest tiers of governance or public administration within a particular sovereign state. Local governments typically constitute a subdivision of a higher-level political or administrative unit, such a ...

, and was formally incorporated on 13 March 1903. Over the following decades it became responsible for insuring most public sector bodies, including councils,

police The police are Law enforcement organization, a constituted body of Law enforcement officer, people empowered by a State (polity), state with the aim of Law enforcement, enforcing the law and protecting the Public order policing, public order ...

and

fire authorities In England and Wales a fire authority or fire and rescue authority is a statutory body made up of a committee of local councillors which oversees the policy and service delivery of a fire and rescue service. Prior to the Fire Services Act 2004 ma ...

. Between 1990 and 1992, the company suffered substantial losses, and its assets were reduced to below the minimum level for solvency.Municipal Mutual Insurance homepage
Accessed 14 November 2012 In 1993, it was bought by

Zurich Insurance Zurich Insurance Group Ltd. is a Swiss insurance company, headquartered in Zürich, and the country's largest insurer. the group is the world's 98th largest public company according to ''Forbes'' Global 2000s list, and in 2011, it ranked 94th i ...

, although MMI itself continues to pay all its outstanding liabilities. Marsh UK: Municipal Mutual Insurance Ltd.
Accessed 14 November 2012

References

External links

MMI Annual Report and Accounts for the year ended 30 June 2012
Financial services companies established in 1903 Insurance companies of the United Kingdom Zurich Insurance Group {{insurance-company-stub