Texas Mutual Board Approves $260 Million Policyholder Dividend Distribution

AUSTIN, Texas, April 19, 2017 /PRNewswire/ — Texas Mutual Insurance Company announced today that its board of directors voted unanimously to approve a company-record $260 million dividend distribution in 2017. Qualifying policyholder owners across Texas will share the dividend, which will be distributed beginning in June.

Texas Mutual has paid more than $2.2 billion in dividends over the last 19 years, with over $1 billion of that paid in the last five years alone. Texas Mutual is owned by its policyholders, which means the company shares its success by distributing dividends to business owners who have made a commitment to preventing workplace accidents and helping injured workers get back on the job.

“Texas Mutual established the tradition of paying dividends almost 20 years ago, and it’s something we’re just as proud of today as we were when the program began,” said Bob Barnes, chairman of Texas Mutual’s board. “We’re pleased to reward safe practices in a way that positively impacts so many companies’ bottom lines, and our state’s economy.”

Texas Mutual President and CEO Rich Gergasko said the dividend distribution underscores policyholders’ contributions to the company’s success and their dedication to keeping Texas workers safe on the job.

“Texas Mutual works hard to help business owners create safe workplaces, so we reward those who partner with us and make it a priority. When employers make workplace safety an integral part of their business practices, the company sees greater success, Texas Mutual benefits, and most importantly, millions of Texans get home safely every day,” Gergasko said.

Gergasko noted that while Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore are not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.

About Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company, a policyholder-owned company, is the state’s leading provider of workers’ compensation insurance. Texas Mutual provides coverage to 40 percent of the market, representing over 66,000 companies, many of which are small businesses. Since 1991, the company has provided a stable, competitively priced source of workers’ comp insurance for Texas employers. Helping employers prevent workplace accidents is an important part of Texas Mutual’s mission.