Texas Mutual Insurance Company announced it has begun distributing about $100 million in individual dividends. Approximately 34,000 policyholders will receive a share of the dividend payout, the largest in company history.
“We’re not talking pocket change,” Kenneth McCown, vice president of Miken Specialties Ltd., a long-time Texas Mutual policyholder, said in Texas Mutual’s announcement. “These dividends really help offset the cost of our premiums. We’ll put ours right back into safety programs and other areas of our business to build for the future.”
Customer loyalty and loss ratio are key factors in determining which policyholders qualify for individual dividends. Policyholders that earn an individual dividend automatically qualify for special and anniversary dividends. The special dividend is the result of Texas Mutual’s exceptional financial results in 2005. The anniversary dividend is in celebration of the company’s 15 years of service to Texas businesses.
With these dividends, Texas Mutual Insurance Company has distributed more than $320 million to qualifying policyholders over the past eight years. While the company cannot guarantee future dividends, it is dedicated to sharing its success with policyholders when financial conditions permit.
Source: Texas Mutual
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