In May, Texas Mutual announced that its board of directors voted unanimously to approve a $340 million dividend distribution in 2023. Dividends will be distributed to qualifying policyholders in late June.
For 25 years, our dividend program has played a fundamental role in our work toward building a stronger, safer Texas. We’re proud to be able to reward our policyholders for their dedication to maintaining safe work environments and trusting us to protect their businesses.
When an employer purchases a policy at Texas Mutual, they are not just buying financial security for themselves and their employees. They're also becoming owners of Texas Mutual. We choose year after year to reward qualifying policyholders who contribute toward keeping employees safe and losses low. We have distributed dividends for 25 consecutive years, bringing the payout total to over $4 billion.
Our dividend distribution has always been about more than our financial success. It gets to the heart of consistently rewarding our policyholders for sharing in our mission of building safer workplaces.
For many policyholders, dividends are key to managing their workers' comp costs. Dividends give more control over the total cost to the policyholder because they are based on the policyholder's loss experience.
They also give us the chance to recognize our policyholders across the state who are working hard to keep employees safe and workers' comp costs low. Because that's a commitment that deserves to be rewarded.
Whether you’re a new policyholder or have been with us for several years, you can qualify for a dividend. Eligible policyholders include those who have a current, in-force policy and are in good standing.
We reward policyholders by providing them with two different ways to earn a dividend. Safety, paid through the annual component, and loyalty, paid through the retention component, are at the core of a Texas Mutual dividend.
When you choose to do business with us, you deserve to be rewarded for that loyalty. We reward your trust in us when you qualify for the retention component of the dividend.
We recognize policyholders who choose Texas Mutual and have acceptable combined loss ratios from the prior calendar year.
Historically, Texas Mutual has paid individual dividends in June.
Policyholders who are safety group members can also qualify for a group dividend if the group has a favorable loss history. By coming together to form safer workplaces, safety group members can potentially earn both an individual and group dividend from Texas Mutual. In 2022, Texas Mutual paid over $22 million in safety group dividends.
For 2023 dividends, we will mail checks in late June. You can log in to your Texas Mutual Online (TMO) account to see whether you will receive a dividend starting June 23. Your agent will be able to see dividend information for their qualifying clients starting June 5.
We currently do not offer direct deposit. We can reissue checks if you misplace or accidently discard it. Contact our Information Services Center for more information.
Dividends are based on performance, are not guaranteed and
must comply with Texas Department of Insurance regulations.
Safety group members can earn an additional dividend. See if a safety group is a good fit for you to maximize your dividend potential.