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.
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
Uber Jury Awards $8.5 Million Damages in Sexual Assault Case From This Issue
