California’s State Compensation Insurance Fund will begin issuing $100 million worth of dividend payments to eligible policyholders in early July, the state’s largest workers’ compensation insurer announced on Tuesday.
The dividend be paid on the 2012 policy year, and eligible policyholders will receive roughly 10 percent of their 2012 estimated annual premium.
“The dividend is a direct result of sound investment returns and improved efficiencies at State Fund,” State Fund President and CEO Tom Rowe said in a statement.
Last year, State Fund declared a $50 million dividend. Since its inception in 1914, State Fund has paid more than $5 billion in dividends to policyholders, according to the carrier.
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