You're completely right in thinking that. Insurance companies are only providing "insurance" from the perspective of the customers. They're actually just anothe

You're completely right in thinking that. Insurance companies are only providing "insurance" from the perspective of the customers. They're actually just another investment vehicle and their managers (not so dissimilar to hedge and mutual funds) optimise for profits -- thus minimising risk. All the while being "risky" enough to allow for building some customer base (so cash inflow).