MagMutual Declares New Dividend and Owners Circle® Options for 2017
March 7, 2017
Insurer declares 10% dividend and Owners Circle allocations to PolicyOwners℠
ATLANTA (March 7, 2017) – MagMutual Insurance Company, one of the nation’s largest medical professional liability mutual insurers, has announced a 10% premium return to PolicyOwners as well as flexible options for its dividend and Owners Circle reward programs.
MagMutual policyholders have received close to $200 million in dividends since inception, almost half of which has been paid out in the past six years.
“Stock companies give nothing, competitors are returning less and we are paying more than ever before. This is another part of the MagMutual difference,” said Neil Morrell, President of MagMutual.
The MagMutual Board of Directors also declared a 10% Owners Circle allocation recognizing policyholders’ ownership in a financially strong company. MagMutual remains the only mutual medical malpractice insurer to establish the value of this obligation as segregated surplus.
In addition to these financial declarations, MagMutual’s management team and Board of Directors are now providing new and returning PolicyOwners with more options and flexibility regarding these funds. Policyholders can trade their Owners Circle allocation for an additional 3% dividend return, taking dividends to a record 13% for those who choose this option.
“We exist to deliver the best products, services and pricing to the policyholders we serve; and, when there is money left over at the end of year, we are extremely pleased to be able to give their money back to them,” said Joe Wilson, MD, Chairman of the Board and CEO of MagMutual.
MagMutual’s consistently strong financial performance has allowed robust dividends and rewards for PolicyOwners for several consecutive years.
For more than 30 years, MagMutual has served as a trusted advisor and strategic ally to thousands of physicians and hospitals. We continuously evolve to meet the changing needs of our PolicyOwners℠ and drive advancements in healthcare. Today we offer the best resources in patient safety, expert defense and a range of professional liability coverage. Our comprehensive solutions, combined with our incomparable service, extraordinary financial strength, plus dividends and rewards, provide our PolicyOwners℠ with an exceptional customer experience. For more information, visit www.MagMutual.com.
Media contact information:
Ed Lynch, EVP, Chief Business Operations Officer, MagMutual