Texas Mutual Insurance Company announced a group dividend to the Lone Star Energy (LSE) purchasing group today totaling $49,948. This marks the first time LSE has earned a Texas Mutual purchasing group dividend.
Group dividends are separate from the $50 million in general dividends that Texas Mutual Insurance Company will pay qualifying policyholders this year. Some LSE members may receive dividends under both programs.
Texas Mutual Insurance Company evaluates each group’s growth, premium volume, and loss ratio in determining which groups qualify for dividends. Last year, the company paid approximately $3.3 million in purchasing group dividends. So far in 2005, it has paid approximately $2 million in group dividends.
Any Texas agent can place a qualifying client into the LSE purchasing group. Employers interested in LSE and other Texas Mutual purchasing groups should ask their insurance agents for assistance, or go to the Agent section at texasmutual.com.
Texas Mutual Insurance Company reminds employers that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividend plans.
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