Texas Mutual to Distribute $330M in Policyholder Dividends Two Months Early

Workers’ compensation insurer, Texas Mutual Insurance Co., will distribute $330 million in policyholder dividends to be paid out two months early than scheduled. The company has historically paid dividends in June, and in response to the coronavirus pandemic, saw an immediate need to distribute dividends to its qualifying policyholders at an earlier date.

More than 57,000 Texas business owners, about 80% of Texas Mutual’s customers, will receive dividends this year.

Texas Mutual paid its first dividend in 1999, and this year’s payout brings the total to more than $3.1 billion delivered back to Texas businesses over the last 22 years.

Texas Mutual was founded over 25 years ago to be a stable source of workers’ compensation for the state. The company now serves more than 70,000 businesses and 1.5 million workers.

Policyholders can earn dividends for keeping their employees safe on the job and by choosing Texas Mutual year after year. While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.

Source: Texas Mutual Insurance Co.