Austin, TX – Texas Mutual Insurance Company recently paid $3.5 million in early qualifier dividends to approximately 3,200 newer policyholder owners across the state. This payout is the final component of the company’s $330 million record dividend distribution to more than 55,000 policyholders in 2019.
Early qualifier dividend recipients are those who are already maintaining safe workplaces but haven’t been with Texas Mutual long enough to qualify for a regular dividend. It includes those who have a good loss ratio on their first-year policy with Texas Mutual and have renewed their policy.
“Texas Mutual is deeply committed to helping businesses create safe workplaces,” said Texas Mutual President and CEO Rich Gergasko. “We’re proud to recognize our newer policyholders who join us in embracing that responsibility. Dividends allow policyholders to invest in their businesses and continue leading their workforce with a safety-first commitment.”
Texas Mutual is a policyholder-owned company and shares its success by distributing dividends to policyholder owners. This is the 21st consecutive year that the Texas Mutual board of directors has voted to distribute policyholder dividends, bringing the total to $2.8 billion.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must follow Texas Department of Insurance regulations.
Source: Texas Mutual