Lloyd's of London is the largest mutual insurance company in the world measured by total premiums written. True False Which of the following statements is false? Dividends from mutual insurers are a part of the contract, and minimum dividends are guaranteed. To own a part of a mutual insurance company, a person must purchase an insurance policy from that company. Mutual insurance companies legally are nonprofit organizations. The Gramm-Leach-Bliley Act (1999) allows banks, security dealers, and insurance companies to combine together to form financial services holding companies. Dividends from mutual insurers are not subject to federal income tax. Brokers generally stand in the same legal position as agents with respect to the power to bind the insurer to a property insurance contract. True False