Texas Mutual Insurance’ board of directors has approved a $75 million individual policyholder dividend. The dividend plan is subject to Texas Department of Insurance approval.
The company starts mailing dividend checks in late July to about 37,000 employers, configuring 77% of policyholders. The amount of dividend check for each qualifying policyholder will primarily depend on its premium size and loss ratio.
Bob Barnes, Board Chairman, said: “After we mail this year’s checks, we will have pumped more than $670 million into our state’s economy through our individual policyholder dividend plans since 1999. Our policyholders have used those funds to expand their businesses, create jobs, pay skilled employees and improve their safety programs.”
Texas Mutual Insurance is a provider of workers’ compensation insurance.