Nueces County policyholders receive $5.4 million in dividends from Texas Mutual
As part of this year’s $330 million dividend distribution, 991 Nueces County companies received dividends to reinvest in their companies, employees and community
Texas Mutual Insurance Company, a policyholder-owned company and the state’s leading provider of workers’ compensation insurance, has distributed $330 million in dividends to over 57,000 policyholders across the state. Of those businesses, 991 of them are in Nueces County and they received a total of $5.4 million in dividends, which can be used to reinvest back into their businesses and local communities.
“We’re proud to be a stable source of workers’ compensation coverage for the state, and proud to have stood resilient during a tough year. Because of that, we were able to reward our policyholders who put safety first,” said Ron Simmons, Texas Mutual board chairman. “This year’s $330 million dividend distribution represents our commitment to helping our policyholders keep hard-working Texans safe on the job.”
The dividend program allows Texas Mutual to share its success with loyal policyholders who display a commitment to preventing workplace accidents and helping injured workers get back on the job. About 79% of Texas Mutual’s customers received dividends this year, which are based on each company’s loss ratio and history with Texas Mutual.
“Nueces County companies appreciate Texas Mutual’s long-standing support of local businesses and essential workers through their dividend program,” said Tom Carlisle, president of Carlisle Insurance. “These dividends also help promote safety on the job and continued job growth.”
“The pandemic has had a significant impact on businesses across the state, so we’re honored our policyholders trusted us to continue protecting their businesses and employees,” said Rich Gergasko, president and CEO of Texas Mutual. “With our dividend program, we’re able to give back to our policyholders who are putting safety first and leading safe workplaces.”
Texas Mutual awarded its first dividend in 1999, making this the 23rd year of the program and bringing the total delivered back to Texas businesses to $3.4 billion. While dividends have been annually awarded, they’re based on performance and are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Visit texasmutual.com/ownershippays to learn more about Texas Mutual’s one-of-a-kind dividend program.