Texas Mutual Distributing $330M Dividend Early

Texas Mutual Insurance Co. announced that its board of directors approved a plan to distribute a $330 million dividend two months early in response to the COVID-19 pandemic. The carrier historically pays dividends in June but said this year there is an immediate need to return money to policyholders starting in April. "We know that our dividend program provides an economic boost for the state and will help many of our policyholders in a critical time," Rich Gergasko, president and CEO of Texas Mutual, said in a statement. More than 57,000 business owners, about 80% of Te...