Texas Mutual Pays $3.2M Dividend – Its Largest – to Restaurant Group

January 13, 2009

Texas Mutual Insurance Company recently announced a $3,162,738 dividend to the Texas Restaurant Association (TRA) group discount program. This marks the largest dividend in Texas Mutual’s history. It was based largely on TRA’s favorable loss history.

For TRA President Gerard Cace, who owns and operates Johnny Cace’s Seafood & Steak House in Longview, the dividend announcement was a welcome surprise in today’s troubled economy.

“Restaurants are the state’s leading private-sector employer. Nearly 1 million people work in our industry, and that number is expected to grow to 1.2 million by 2018,” said Cace. “These dividends will help our members continue to pay skilled food service professionals during difficult economic conditions.”

TRA is the state’s primary advocate for restaurateurs. It partners with Texas Mutual to offer a group discount program for its members. Restaurateurs who join the group get a premium discount on their workers’ compensation insurance, an industry-specific safety plan and potential dividends.

Any licensed Texas agent can submit qualifying clients for consideration in the TRA group discount program. For more information, visit the Agents section at texasmutual.com.

Texas Mutual notes that past dividends are not a guarantee of future dividends, and the Texas Department of Insurance must approve all dividends.

Source: Texas Mutual Insurance Company, www.texasmutual.com

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