Businesses Receive $3M in Texas Mutual Early Qualifier Dividends
Texas Mutual Insurance Co. has paid more than $3 million in early qualifier dividends to approximately 4,000 newer policyholder owners across the state. This payout is the final component of the company’s $260 million record dividend distribution in 2017.
Early qualifier dividend recipients are those who are already maintaining safe workplaces but haven’t been with Texas Mutual long enough to qualify for a regular dividend. It includes those who have a good loss ratio on their first-year policy with Texas Mutual and have renewed their policy.
“Dividends are one of the ways we show our commitment to a stronger, safer Texas. We reward policyholders who work hard to prevent injuries and keep our state’s workforce safe,” Texas Mutual President and CEO Rich Gergasko said in the company’s announcement. “When we see our new policyholders already making safety a priority, that effort is worth recognizing.”
Texas Mutual is a policyholder-owned company and shares its success by distributing dividends to policyholder owners. This is the 19th consecutive year that the Texas Mutual board of directors has voted to distribute policyholder dividends, bringing the total to $2.2 billion. More than $1 billion of that has been paid since 2012.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must follow Texas Department of Insurance regulations.
Source: Texas Mutual Insurance Co.