The MEMIC Group announced Wednesday that its board of directors authorized a $17 million dividend for more than 17,000 policyholders in Maine.
The carrier said the dividend is based on its financial performance and claims experience, as well as the collective success of policyholders in maintaining safe workplaces during the 2023 calendar year.
The $17 million distribution is more than 10% of eligible premiums paid by policyholders that year and will be distributed next month.
The dividend brings to $406 million the total amount the carrier has returned to policyholders since 1998.
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