California State Fund Declares 15% Dividend for 2019 Policy Year

January 13, 2020

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.

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal West January 13, 2020
January 13, 2020
Insurance Journal West Magazine

IJ’s Agents of the Year; 2020 Agents & Brokers Meetings / Conventions Directory; Market: Employment Practices Liability