May 9, 2023, AUSTIN, Texas — 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.”
The dividend program highlights the company’s mission to create safe work environments across the state and ensure hardworking Texans get home safely every day.
“Texas Mutual’s policyholders across the state play a fundamental role in our mission to create a stronger, safer Texas,” said Jeanette Ward, president and CEO. “We’re proud to continue our dividend program for the 25th year, rewarding our policyholders who share in this mission and do the work to protect Texans on the job.”
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.
To learn more about Texas Mutual’s dividend program, visit texasmutual.com/ownershippays.
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About Texas Mutual Insurance Company
Texas Mutual Insurance Company, a policyholder-owned company, is the state’s leading provider of workers’ compensation insurance. Texas Mutual provides coverage to over 75,000 businesses. Since 1991, the company has provided a stable, competitively priced source of workers’ comp insurance for Texas employers. Helping employers prevent workplace accidents is an important part of Texas Mutual’s mission.
Media Contact:
ECPR Texas
TXM@ecprtexas.com
(512) 472-9599
Topics Texas
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