Texas Mutual board approves $350 million policyholder dividend distribution

AUSTIN, Texas September 18, 2024—Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, is announcing today that its board of directors voted unanimously to approve a $350 million dividend distribution in 2024. Dividends will be distributed to an estimated 69,000 Texas business owners, representing approximately 90% of Texas Mutual’s policyholders for their dedication to keeping their employees safe.

This is the 26th year Texas Mutual has paid dividends, bringing the total amount delivered back to Texas businesses to over $4.4 billion since 1999. This year, the company will distribute dividends to qualifying policyholders in June. Policyholders earn dividends for their commitment to safety and time with Texas Mutual. “Texas Mutual’s dividend program gives us an opportunity to show our appreciation to Texas businesses that are creating safe work environments for their employees,” said the Honorable Ron Simmons, chairman of Texas Mutual’s board. “With policyholder owners across the state, this year’s $350 million dividend distribution creates a meaningful and positive impact on our state’s economy.” The dividend program highlights the company’s mission to create safe work environments across the state and ensure hardworking Texans get home safely every day.

“For 26 years, our dividend program has played a fundamental role in our work toward building a stronger, safer Texas,” said Jeanette Ward, president and CEO of Texas Mutual. “The program is a testament to our more than three decades as a stable, responsible source of workers’ compensation, and we’re proud to be able to continue rewarding our policyholders who share our mission to protect their businesses and employees.”

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.

To learn more about Texas Mutual’s dividend program, visit texasmutual.com/ownershippays.About Texas Mutual Insurance Company

Austin-based Texas Mutual Insurance Company, a policyholder-owned company, is the state’s leading provider of workers’ compensation insurance. Texas Mutual provides coverage to 41 percent of the market, representing over 77,000 companies, many of which are small businesses. Since 1991, the company has provided a stable, competitively priced source of workers’ comp insurance for Texas employers. Helping employers prevent workplace accidents is an important part of Texas Mutual’s mission.