Texas Mutual to Distribute $330M in Policyholder Dividends

Workers’ compensation insurer Texas Mutual Insurance Co. announced plans to distribute $330 million in dividends to policyholders in 2019.

The dividends will be distributed to over 55,000 business owners, who are policyholder owners of the company, in late June.

Texas Mutual paid its first dividend in 1999, and this year’s payout brings the total to $2.8 billion delivered back to Texas businesses over the last 21 years. The dividend program is the company’s way of sharing its success with its customers who prevent workplace accidents and help injured workers get back on the job.

Texas Mutual President and CEO Rich Gergasko said the dividend distribution underscores policyholders’ contributions to the company’s success and their dedication to keeping Texas workers safe on the job.

“We’re proud to share our success with our policyholder owners who demonstrate a responsibility to their employees’ safety and well-being,” Gergasko said. “We think that’s worth rewarding and supports our mission to build a stronger, safer Texas.”

While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.

Source: Texas Mutual Insurance Co.

Topics Texas