AUSTIN Texas Mutual Insurance Company, a policyholder-owned company and the state’s leading provider of workers’ compensation insurance, has distributed $350 million in dividends to about 70,000 Texas businesses, representing 91% of the company’s policyholders. In Ector County, 826 businesses will collectively receive $7.2 million in dividends. These local businesses can use their individual dividends to reinvest in their businesses and local communities.
“Texas Mutual’s dividend program gives us the opportunity to share the company’s financial success with businesses across the state that are doing their part to keep Texans working safely,” Ron Simmons, chairman of Texas Mutual’s board, said in a news release. “This year’s $350 million dividend distribution creates a meaningful and positive effect on Texas’ economy.”
Policyholders have the opportunity to earn dividends for their commitment to safety and loyalty to Texas Mutual.
“We are proud to once again see our customers included in a program that not only recognizes excellence in workplace safety, but bolsters our local economy as well,” said Brett Felker, president of Milam Felker Insurance Services. “This financial support from Texas Mutual makes such a difference for Ector County businesses, helping to ensure the safety of our local workforce for years to come.”
Texas Mutual awarded its first dividend in 1999, making this the 26th consecutive year of the program and bringing the total delivered back to Texas businesses to over $4.4 billion.
“For over 25 years, our one-of-a-kind dividend program has played a fundamental role in our work toward building a stronger, safer Texas,” said Jeanette Ward, president and CEO of Texas Mutual. “We’re proud to be able to maintain our position as a stable source of workers’ compensation while rewarding our policyholders who share in our mission and trust us to help protect their businesses and employees.”
While dividends have been awarded annually since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Visit texasmutual.com/ownershippays to learn more about Texas Mutual’s dividend program.
