MEMIC Announces $18.7M Dividend

The board of directors for Maine-based workers’ compensation carrier MEMIC Group approved an $18.7 million dividend. The dividend announced Wednesday represents about 11% of the premiums policyholders paid in 2021, the carrier said. About 17,000 policyholders are eligible to receive a dividend, which will be mailed in November. MEMIC said the 2024 dividend brings its total policyholder distributions to $370 million since 1998. MEMIC Group President and CEO Michael Bourque said the dividend reflects collective efforts to protect workers and return to gainful employment those ...