California State Compensation Insurance Fund announced plans to distribute a roughly $55 million dividend to its qualifying policyholders with policies that took effect between Aug. 20 and Dec. 31, 2019.
The dividend amounts to 15% of the estimated annual premium reported during that time period.
This announcement follows up State Fund’s August declaration of a 15% mid-year dividend that applied to all policies incepted between Jan. 1 and Aug. 19, 2019. The dividend distribution for the entire year equals roughly $160 million.
Through 2019, State Fund is reporting roughly $1.2 billion in premium and $110 million in realized capital gains.
Since its creation in 1914, State Fund has paid out more than $5 billion in dividends to policyholders.
State Fund policyholders eligible for a 2019 dividend will begin to receive dividend payments during the second half of next year.
Topics California
Was this article valuable?
Here are more articles you may enjoy.
Florida Senate President Says No Major Insurance Changes This Year 
Former Ole Miss Standout Player Convicted in $194M Medicare, CHAMPVA Fraud 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
What Analysts Are Saying About the 2026 P/C Insurance Market From This Issue
