Baton Rouge, LA – LWCC’s board of directors has declared a $51 million dividend for 2018 that will be distributed to over 20,000 policyholders in mid-April. This amount represents one-fourth of the premium LWCC earned in 2018.
“As a mutual insurance company, we are able to share profits with our policyholders when we have strong financial results,” said LWCC President and CEO Kristin W. Wall. “We are proud to continue our purpose of helping Louisiana thrive by distributing dividends to policyholders who can then put that money back into their businesses.”
Dividend payout increases by length of time with LWCC, with long-term policyholders who have been with LWCC for at least five years being fully vested in the dividend program and earning the highest return, 32 percent of their average premium over the last five years. All policyholders with an active LWCC policy at year-end are eligible to receive a dividend.
LWCC has given back to its policyholders, through the dividend program, a total return of $712 million over a period of 16 consecutive years. This amounts to more than LWCC’s total underwriting profit since inception in 1992. “These results were made possible through the continued efforts of our valued policyholders, loyal agents and dedicated employees,” stated LWCC Board Chairman Byron Craig Thomson.
Source: LWCC