MagMutual declares policyholder dividend for 2020
March 12, 2020by
MagMutual Insurance Company today announced it will be returning a 7% dividend to its PolicyOwners.
This marks the thirteenth consecutive year that the company has paid dividends. Since its inception, the company has returned more than $293M in financial rewards to its PolicyOwners, according to MagMutual.
“MagMutual is owned by our policyholders – that’s why we call them ‘PolicyOwners’ – and we want to make sure they profit from their company’s success,” said Joe Wilson, MD, executive chairman of MagMutual. “Our core business precepts are always putting PolicyOwners interests first and optimally managing their company. Paying dividends is a reflection of our commitment to them.”
“Our ability to continue paying some of the highest dividends in the industry, whilst maintaining positive operations and growing our significant financial strength, is a testament to the whole team,” said Neil Morrell, CEO of MagMutual. “I am thrilled for our policyholders and proud of my colleagues.”