Texas Mutual Insurance Co. announced that its board of directors voted unanimously to approve a company-record $260 million dividend distribution in 2017. Qualifying policyholder owners across Texas will share the dividend, which will be distributed beginning in June.
Texas Mutual has paid more than $2.2 billion in dividends over the last 19 years, with over $1 billion of that paid in the last five years alone. Texas Mutual is owned by its policyholders, which means the company shares its success by distributing dividends to business owners who have made a commitment to preventing workplace accidents and helping injured workers get back on the job.
Texas Mutual President and CEO Rich Gergasko said the dividend distribution underscores policyholders’ contributions to the company’s success and their dedication to keeping Texas workers safe on the job.
He noted that 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.