Texas Mutual Approves $340M Dividend Distribution

Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, announced today that its board of directors voted unanimously to approve a $340 million dividend distribution in 2023. Dividends will be distributed to an estimated 69,000 Texas business owners, representing approximately 92% of Texas Mutual’s policyholders for their dedication to maintaining safe work environments for their employees.

This is the 25th year Texas Mutual has paid dividends, bringing the total amount delivered back to Texas businesses to over $4 billion since 1999. This year, the company will distribute dividends to all qualifying policyholders in June. Policyholders earn dividends for their commitment to safety and time with Texas Mutual.

“Texas Mutual is appreciative of the Texas businesses doing their part to keep our workforce safe,” said Ron Simmons, chairman of Texas Mutual’s board. “Our dividend program gives us an opportunity to show that appreciation by sharing our financial success with these businesses and create a positive effect on Texas’ economy.”

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

Topics Texas