Texas Mutual Pays $175 Million Policyholder Dividend

Dollar BillsTexas Mutual Insurance Company announced today that it has begun distributing $175 million in dividends among approximately 40,000 policyholders. 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.

This is the 15th consecutive year Texas Mutual has paid dividends, bringing the total to almost $1.4 billion. The company has paid the majority of that total – $1 billion – since 2007.

“Texas Mutual is a policyholder-owned company,” Bob Barnes, chairman of Texas Mutual’s board, said. “Our focus is on delivering benefits to our policyholder 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 business partner to Texas employers, and we understand the importance of these dividends to our policyholders. This money goes back into the Texas economy and helps employers build their businesses for the future.”

Gergasko noted that Texas Mutual cannot guarantee future dividends, and the Texas Department of Insurance must approve all dividends

Texas Mutual Pays $355K Dividend to Apartment Group

The Texas Apartment Association (TAA) safety group has earned a $355,922 Texas Mutual dividend. The workers’ compensation dividend was based largely on the group’s overall safety record.

Since 2009, Texas Mutual has paid nearly $1.2 million in group dividends to TAA safety group m

TAA dividenc check presentation

Bob Barnes (left), chairman of Texas Mutual’s board of directors; and Ron Wright (right), Texas Mutual president; present a $355K dividend check to Michael Whorton, master agent of the Texas Apartment Association safety group.

embers. That total is in addition to individual policyholder dividends group members have earned. Individual dividends are based largely on each policyholder’s safety record.

“As a mutual insurance company, our responsibility is to our policyholders,” said Barnes. “They own the company, and this money belongs to them. We are proud to share Texas Mutual’s success with those who have contributed to that success.”

Unlike publicly traded insurance companies, mutual insurance companies are owned by their policyholders, and they do not answer to stockholders. Dividends allow Texas Mutual to share its financial success with its policyholder owners.

By the end of the year, Texas Mutual will have paid $1.2 billion in dividends. The majority of that total – more than $1 billion – will have been paid since 2005.

Wright said the company’s dividend track record is a direct reflection of its financial strength, as well as policyholders’ efforts to keep employees safe.

“Our status as a mutual company gives us the freedom to focus on what matters most: preventing workplace accidents and their associated costs,” said Wright. “Texas Mutual is fortunate to have owners who share our vision. 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. The Texas Department of Insurance must approve all dividends.

Texas Mutual Pays $1.6M Dividend to Construction Group

(L-R) Steve Math, senior vice president of underwriting at Texas Mutual, presents a $1.6 million dividend check to Raymond Risk, president/CEO of the Texas Construction Association, and Todd Hewitt, chairman of the Texas Construction Association board of directors

The Texas Construction Association (TCA) safety group earned a $1,607,267dividend. The workers’ compensation dividend was based largely on the group’s overall loss ratio.

Austin-based Texas Fifth Wall Roofing earned its third consecutive dividend as a member of the TCA safety group. The company’s president, Todd Hewitt, explained that private sector construction projects are picking up slowly following the recession. Dividends help Texas Fifth Wall Roofing remain competitive.

“Workers’ compensation is just one of many costs we have to consider,” said Hewitt. “We get a premium discount on the front end for participating in the safety group. On the back end, we have earned dividends for working safely. That money has gone directly back into our operating budget.”

Since 2005, Texas Mutual has paid $11.5 million in group dividends to TCA safety group members. That total is in addition to individual dividends group members have earned.

Unlike publicly traded insurance companies, mutual insurance companies are owned by their policyholders, and they do not answer to stockholders. Dividends allow Texas Mutual to share its financial success with its policyholder owners.

“Texas Mutual has a shared interest in helping Texas-based business succeed,” said Steve Math, senior vice president of underwriting at Texas Mutual. “These TCA safety group members have invested in their employees’ well-being. Dividends are Texas Mutual’s way of rewarding them for their commitments to safety and for their ownership stakes in the company.”

By the end of the year, Texas Mutual will have paid $1.2 billion in dividends. The majority of that total – more than $1 billion – will have been paid since 2005.

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

Restaurants Enjoy Texas Mutual Dividends

Texas Mutual presented safety group dividend checks to members of the Texas Restaurant Association Safety Group.   Learn more about the dividend program and other advantages of Texas Mutual coverage in the below video.

 

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.

NFIB, Texas Mutual Partnership Pays $819K Dividend

Texas Mutual Insurance Company announced today an $819,218 dividend to the National Federation of Independent Business (NFIB) safety group for manufacturers. The dividend was based largely on the group’s overall loss ratio. Bob Barnes, chair of Texas Mutual’s board of directors, and Ron Wright, Texas Mutual president, presented the check to NFIB/Texas Executive Director Will Newton this afternoon at Texas Mutual’s headquarters in Austin.

Bob Barnes, Ron Wright, Will Newton

(L-R) Bob Barnes, chair of Texas Mutual's board of directors, and Ron Wright, Texas Mutual president, present an $819,218 dividend check to Will Newton, NFIB/Texas executive director. The check will be distributed among members of the NFIB workers' compensation safety group for manufacturers.

“Entrepreneurs are the backbone of our economy,” said Barnes. “As an independent business owner, I am proud of the partnership Texas Mutual has forged with the NFIB. Anytime we have the opportunity to invest in Texas entrepreneurs, we consider it money well spent.”

Members of the NFIB manufacturing safety group have shared in $2 million in group dividends since 2007.

“We at NFIB are very proud of our members for pulling together with Texas Mutual Insurance Company’s loss prevention team and achieving such a significant group dividend,” said Newton. “We are looking forward to more of the same in 2012.”

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.

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

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

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

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