| Winter 2008
President's Message
Texas Mutual presidentRussell R. Oliver
We’re Here for Texas for the Long Haul
When some of the world’s most influential financial institutions teeter on the verge of collapse, consumers get nervous. So do politicians.
This fall, the federal government has spent billions of dollars to bail out investment banks, mortgage giants and even an insurer that previously seemed unshakeable.
Corporations are not the only ones feeling the pinch these days. Anyone who has money in the stock and bond markets is suffering. Unless you lived through the Great Depression, you have never seen our financial system as stressed as it is right now.
In the midst of the turmoil, you can trust that Texas Mutual is financially strong and ready to serve you. In fact, we distributed a company-record $150 million in dividends this year to policyholders who share our commitment to controlling workplace accidents. If you earned a dividend, we hope that the money will help your business through these difficult economic times.
So, what makes us different from the companies you are hearing about in the news? First, we have no debt, so creditors are not calling in loans that we cannot pay. Second, our business revenues fund all of our operations. We do not have to sell investments at a loss to meet financial obligations.
We know that our solid financial condition does not mean we can rest easy. We will continue to control our operating costs and manage your premium dollars responsibly.
That approach will allow us to stay focused on our mission: To provide a stable, competitive source of workers’ compensation insurance for Texas employers.
You can count on Texas Mutual to continue to help you control your premium, prevent workplace accidents, manage your claims and fight workers’ comp fraud. Our management, staff and board of directors are here for Texas for the long haul.
Russell R. Oliver
President
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President's Message:
We’re Here for Texas for the Long Haul
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