California State Fund Declares 15% Dividend for 2019 Policy Year

January 6, 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 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 approximately $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

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