MagMutual Declares 2022 Policyholder Dividend
February 2, 2022
Marks 23 years of payments and more than $340 million in financial rewards
ATLANTA (February 2, 2022) – MagMutual Insurance Company, one of the nation’s leading providers of medical professional liability insurance, will return a 5% dividend to its PolicyOwners this year, the company announced today.
This latest payment marks 23 years of dividends and more than $340 million in financial rewards MagMutual has returned to policyholders since inception. More than half of those rewards have been paid to PolicyOwners in just the past 6 years.
“We put our PolicyOwners first in everything we do, and MagMutual has and always will be their company,” said Joe Wilson, MD, executive chairperson of MagMutual. “As I look towards retirement this year, I am gratified to have spent the last decade leading an organization that has demonstrated a strong commitment to our PolicyOwners, both financially and in the delivery of innovative insurance products.”
Providing coverage to more than 30,000 physicians and healthcare organizations nationwide, MagMutual is the second largest mutual medical professional liability insurer in the country, a position it gained in 2021.
“Despite challenging circumstances, MagMutual has been on an exciting trajectory, with the creation of new products, industry-leading financial results and significant growth,” said Neil Morrell, MagMutual CEO. “When we do well, our PolicyOwners benefit. We are pleased to once again deliver consistent returns to them and at the same time significantly improve our overall results.”
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 healthcare providers and 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