MEMIC Paying $18M in Dividends Next Month

Maine Employers Mutual Insurance Co. on Thursday announced that it will issue $18 million in dividends to 17,000 policyholders in November, matching last year's record payout. MEMIC said the dividend represents more than 14% of premium paid by policyholders in 2012, which is the qualifying year for the dividend declaration. The dividend will be paid premiums to MEMIC in 2012. Payments to individual employers depend on the amount of premiums paid and can reach more than $200,000, the carrier said. Since 2006, annual dividends by MEMIC have ranged from $10 million in 2010 to $18 mill...