Texas Mutual board approves $330 million policyholder dividend distribution

Texas Mutual board approves $330 million policyholder dividend distribution | Insurance Business America

Texas Mutual board approves $330 million policyholder 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 $330 million dividend distribution in 2022. Dividends will be distributed to Texas Mutual policyholders for their dedication to maintaining safe work environments for their employees.

This is the 24th year Texas Mutual has paid dividends, bringing the total delivered back to Texas businesses to $3.7 billion since 1999. This year, the company will distribute dividends to all qualifying policyholders in late June. Policyholders earn dividends for their commitment to safety and time with Texas Mutual. 

“Our dividend program gives us the opportunity to share the company’s financial success with businesses that are doing their part to keep Texans working safely,” said Ron Simmons, chairman of Texas Mutual’s board. “With policyholder owners across the state, this year’s $330 million dividend distribution creates a meaningful and 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.

“For more than 20 years, our dividend program has played a fundamental role in our work toward building a stronger, safer Texas,” said Rich Gergasko, president and CEO. “We’re proud to be able to reward our policyholders who share in this mission and trust us to protect their businesses and help keep their employees safe 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.