Honolulu, HI – The Board of Directors of Hawai`i Employers’ Mutual Insurance Company, Inc. (HEMIC) has declared a $1.25 million dividend payable to qualifying policyholders. This year marks HEMIC’s 25th anniversary taking care of Hawai`i businesses, and HEMIC’s Board has declared dividends for policyholders every year since 2007.
With this declaration, HEMIC will have returned over $44 million to Hawai`i policyholders, providing over $6.8 million in dividends and COVID Premium Relief since the beginning of the pandemic.
“Our priority for 25 years of doing business in Hawai’i has always been the welfare of the businesses and workers we serve,” said HEMIC Chief Executive Officer Martin Welch.
As Hawai`i’s only mutual insurance company, HEMIC is owned and governed by its policyholders. This mutual structure aligns company goals with our policyholders’ best interests.
Jason Yoshimi, HEMIC President and CFO, said, “Our dividend program is an essential aspect of our unique, mutual relationship with Hawai`i businesses. It exemplifies our commitment to policyholders and is a direct result of our collaboration to create safer workplaces. Through our conservative, diversified capital management strategy, we maintain a solid foundation that enables us to weather economic cycles.”
To qualify for a dividend, policyholders must be insured with HEMIC for more than one consecutive policy term and demonstrate a commitment to safety.
HEMIC is the largest writer of workers’ compensation in Hawai`i. While the law does not allow any insurance company to guarantee future dividends, HEMIC’s Board of Directors view the payout of dividends as an important goal for the company.