As part of this year’s $330 million dividend distribution, 439 companies in Comal County received dividends to re-invest 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 a company-record $330 million in dividends to over 55,000 policyholders across the state. As part of this year’s program, Texas Mutual awarded $2,612,279 in dividends to 439 Comal County companies, which will be invested back into their local communities.
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. Dividends are based on each company’s loss ratio and history with Texas Mutual. This is the 21st year Texas Mutual has distributed policyholder dividends, bringing the total to $2.8 billion.
“Texas Mutual’s policyholder owners contribute to the success of the organization by making safety a priority,” said Ron Simmons, Texas Mutual board chairman. “We value their contribution to keeping Texas’ workforce safe and are proud to recognize it with dividends they can invest back into their business and local economy.”
Cory Brooke, partner at Comal County-based TCOR Management, shared that he is grateful for Texas Mutual’s desire to give back.
“These Texas Mutual dividends, which are distributed to local businesses, are pumped right back into our economy,” said Brooke. “Programs like these help keep our business community strong and the focus on workplace safety.”
Texas Mutual President and CEO Rich Gergasko said the dividend distribution reflects a deep commitment shared by the company and its policyholders to keep Texas workers safe on the job.
“These dividends are a tangible representation of our commitment to the unique partnerships we’ve built with our policyholders, and a way to share our success,” said Gergasko. “When employers make workplace safety an integral part of their business practices, Texas Mutual sees greater success, and most importantly, Texans get home safely every day.”
Texas Mutual awarded its first dividend in 1999. 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.