MEMIC Announces $18M Dividend

Maine-based workers’ compensation carrier MEMIC Group announced that its board of directors approved an $18 million dividend. The dividend announced Wednesday represents about 12% of premiums paid by policyholders in 2020, the carrier said. The average dividend among more than 14,000 eligible policyholders will be $1,250. The largest dividend will exceed $250,000. Dividend checks will go out in the middle of November. MEMIC said this is the 12th consecutive double-digit dividend it has declared. The carrier said it has returned $351 million to policyholders since 1998. “Our pol...