MagMutual Declares New Dividend and Owners Circle Options for 2019
April 22, 2019by
MagMutual Insurance Co. announced up to 12-percent premium return to policy owners as well as flexible options for its dividend and Owners Circle reward programs. Since inception MagMutual policyholders have received $255 million in dividends.
“MagMutual consistently gives back to our policyholders. When we do well, it is our policyholders who should benefit first. Over the last seven years, our success at retaining policyholders and growing, has allowed us to pay more dividends than in the previous 30 years,” said Joe Wilson, MD, executive chairman of MagMutual.
Policy owners can choose to take more Owners Circle in lieu of their dividend. A 20-percent Owners Circle allocation has been declared to acknowledge policyholders’ ownership in a financially strong company.
“For some policy owners the retirement benefits of Owners Circle are more attractive, for others a cash dividend today makes more sense. It’s their company, they get to choose,” said Neil Morrell, president and CEO of MagMutual.