MagMutual declares policyholder dividend for 2020
March 12, 2020
ATLANTA (March 12, 2020) – MagMutual Insurance Company, one of the nation’s leading providers of medical professional liability insurance, announced it will be returning a 7% dividend to its PolicyOwners™.
This marks the thirteenth year in a row the company has paid dividends. Since its inception, the company has returned more than $293M in financial rewards to its PolicyOwners.
“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.”
MagMutual is currently the third largest mutual medical professional liability insurer in the country, providing coverage to more than 30,000 physicians and healthcare organizations nationwide.
“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.”
For nearly four decades, MagMutual has been a leading provider of medical professional liability insurance. Today, we deliver comprehensive coverage for the practice, business and regulation of medicine to more than 30,000 physicians and healthcare organizations nationwide. Our focus on innovation enables us to provide exceptional service, extensive support and financial benefits that result in improved outcomes and stronger PolicyOwners. For more information, visit MagMutual.com.
Ed Lynch, Chief Corporate Development Officer, MagMutual