MEMIC Announces $19M Dividend

Maine-based workers' compensation carrier MEMIC Group announced that its board of directors approved a $19 million dividend for more than 17,000 policyholders. The carrier said the dividend is based on its financial performance, claims experience and the collective success of policyholders in maintaining safe workplaces during the 2022 calendar year. The $19 million distribution represents an 11% return of premiums paid by eligible policyholders that year and will be distributed in November. "Returning dividends to our policyholders demonstrates why a mutual partnership is...