January 31, 2023 by matray

MagMutual Insurance Co. announced it will return a 6.5% dividend to its policyholders this year.

According to the Atlanta-headquartered insurer of medical liability, the payment marks 24 years of dividends and more than $370 million in financial rewards MagMutual has returned to policyholders since its inception — with more than half of those rewards being paid in the past six years.

“Paying dividends reflects our commitment to our PolicyOwners, who we put first in everything we do,” said William S. Kanich, MD, JD, MagMutual executive chairperson. “We are proud of our record of consistent payments to them, which is an important part of the overall support we offer as a mutual insurer of long standing.”

“The fact that we have increased dividends while most companies are taking them away is a sign of our ongoing financial strength, which our team has worked hard to achieve,” said Neil Morrell, MagMutual CEO. “The successful management of our company means we can support policyholders both financially and with innovative insurance products for years to come.”