MagMutual Declares New Dividend and Owners Circle® Options for 2019
April 16, 2019
Insurer declares up to 12% dividend and 20% Owners Circle allocations to PolicyOwners℠
ATLANTA (April 16, 2019) – MagMutual Insurance Company, one of the nation’s largest medical professional liability mutual insurers, has announced up to 12% premium return to PolicyOwners as well as flexible options for its dividend and Owners Circle reward programs.
Since inception MagMutual policyholders have received over $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.
PolicyOwners can choose to take more Owners Circle in lieu of their dividend. A 20% Owners Circle allocation has been declared, to acknowledge policyholders’ ownership in a financially strong company. To this day, MagMutual remains the only mutual medical malpractice insurer to establish the value of this obligation as segregated surplus.
“For some PolicyOwners 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.
For nearly four decades, MagMutual has served as a trusted advisor and strategic ally to thousands of physicians and hospitals. As a leading mutual provider of medical professional liability insurance, our comprehensive coverage along with our exceptional service, extensive support and financial benefits provide our PolicyOwnersSM with unprecedented value and a uniquely personal experience. For more information, visit www.MagMutual.com.
Media contact information:
Ed Lynch, EVP, Chief Corporate Development Officer, MagMutual