Texas Mutual Surplus Grows, to $3.5B, in 2017

Texas Mutual Insurance Co. has reported a net income of $232 million for 2017, compared to net income of $319 million the previous year. Gross premiums written were $1.04 billion last year, up from $988 million in 2016. Policies in force grew 4%, to 69,360, according to an annual report recently posted to the Texas Mutual website. Policyholder surplus increased, to $3.53 billion last year, up from $3.16 billion at the end of 2016. The company also paid a $286 million dividend last year, distributed among roughly 50,000 policyholders. A $265 million dividend was paid in 2016. Statutory comb...