Texas Mutual Serves up $1.4M Dividend to TRA Safety Group

(L-R) Bob Barnes, chairman of Texas Mutual's board of directors, and Ron Wright, president of Texas Mutual, present a $1,387,241 dividend check to Richie Jackson, CEO of the Texas Restaurant Association.

Texas Mutual Insurance Company announced today a $1,387,241 dividend to the Texas Restaurant Association (TRA) safety group. The dividend was based largely on the group’s overall loss ratio. Bob Barnes, chair of Texas Mutual’s board of directors, recently presented the check to TRA CEO Richie Jackson at Texas Mutual’s headquarters in Austin.

“The restaurant industry is an economic engine for Texas,” said Barnes. “Restaurants pump $36.6 billion into the economy and employ more than 1 million people. For every $1 million spent in restaurants, the state benefits from nearly 30 additional jobs. We hope this money helps TRA members continue to grow their businesses during challenging economic conditions.”

Members of the TRA safety group have shared in more than $17 million in group dividends since 1999.

Safety group dividends are separate from the $155 million in individual policyholder dividends Texas Mutual distributed in 2011. Since 2000, the company has injected more than $1 billion into the Texas economy through its group and individual dividend programs.

“Between individual policyholder dividends and safety group dividends, Texas Mutual makes participating in the workers’ compensation program in Texas a good business decision,” said Jackson.

Unlike publicly traded insurance companies, mutual companies are owned by their policyholders. Dividends allow Texas Mutual to share its financial success with its policyholder owners.

In addition to potential dividends, TRA safety group members get discounts on their workers’ compensation premiums. They also have access to workplace safety materials designed for the restaurant industry.

Texas Mutual notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividends.

Texas Mutual Pays Combined $690K to Four Safety Groups

Texas Mutual Insurance Company announced today that four workers’ compensation safety groups have earned a combined $690,036 in dividends: Texas Recreation Group, $278,353; Texas Construction Supply, $200,752; Texas Green Industry, $133,453; AgriComp, $77,478.

The dividends were based largely on each group’s overall loss ratio.

In 2011, Texas Mutual will pay approximately $15 million in safety group dividends. Group dividends are separate from the $155 million in individual policyholder dividends the company distributed this year. Many group members qualified for individual and group dividends.

Texas Mutual notes that past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.

For more information about safety groups, visit texasmutual.com/agents/group.shtm.

Texas Mutual Wraps Up $155M Dividend Distribution

Today, Texas Mutual Insurance Company began distributing about $1.5 million in workers’ compensation dividends among approximately 2,800 new policyholders.

The early-qualifier dividends represent the final component of Texas Mutual’s $155 million 2011 dividend distribution. Approximately 77 percent of the company’s policyholders received a dividend as a reward for preventing workplace accidents and helping injured workers return to productive employment.

“As a mutual insurance company, Texas Mutual is not publicly traded, and it does not answer to stockholders,” said Bob Barnes, chairman of Texas Mutual’s board of directors. “Our policyholders – the Texas entrepreneurs who put their trust in us every day – own the company. When Texas Mutual enjoys financial success, it has a solid history of sharing with those who have contributed to that success.”

Texas Mutual has distributed more than $1 billion in policyholder dividends since 2000. That number includes a combined $260 million in 2008 and 2009, at the height of the recession.

Texas Mutual President Ron Wright said the company’s dividend track record is a direct reflection of policyholders’ efforts to keep employees safe and on the job.

“Texas Mutual is fortunate to have more than 50,000 owners who share its vision of a safer, more productive state,” said Wright. “Our policyholders have invested in their safety programs and supported injured workers during their recoveries. I hope this return on their investments will keep their businesses strong far into the future.”

Texas Mutual notes that past dividends are not a guarantee of future dividends. All dividend plans require Texas Department of Insurance approval.