AUSTIN, Texas—Texas Mutual Insurance Company recently began distributing $200 million in dividends among approximately 40,000 policyholders, 875 of which are in Nueces County.
Based on each company’s premium size, loss ratio and history with Texas Mutual, the state’s leading provider of workers’ compensation, dividends reward loyal policyholders who share the company’s commitment to preventing workplace accidents and helping injured workers get well and back on the job.
As part of this year’s dividends, Texas Mutual will distribute $4,415,879 in dividends to 875 Nueces County policyholders, pumping money into the local economy.
"We're proud to be a part of the dividend program, which provides monetary support to Nueces County businesses that have shown dedication to safety practices in the workplace," Allen Borden, executive vice president at Borden Insurance, said. “We are proud so many south Texas employers gained the benefits of this program.”
This is the 16th consecutive year Texas Mutual has paid dividends, bringing the total to almost $1.6 billion. The company has paid the majority of that total – $1 billion – since 2008.
“Texas Mutual is a policyholder-owned company,” Bob Barnes, chairman of Texas Mutual’s board of directors, said. “Our focus is on delivering benefits to our employer owners and taking care of their injured workers. Dividends are part of our long-term strategy for helping Texas employers control their workers’ compensation costs.”
Texas Mutual President and CEO Richard Gergasko said the company’s dividend track record reflects its permanent commitment to Texas businesses.
“Texas Mutual is more than a workers’ compensation provider,” Gergasko said. “We are a policyholder-owned mutual company, and dividends are an important benefit of ownership. Policyholders who share in our commitment to keeping their employees safe and getting those who are injured back to work reap the benefits of our mutual success. This money goes back into the Texas economy and helps employers build their businesses for the future.”