Atlanta, Georgia — MagMutual Insurance Company, one of the nation’s leading providers of medical professional liability insurance, announced it will be returning a 7% dividend to its PolicyOwners™ again this year.
In an environment where many companies are decreasing or eliminating policyholder dividends to improve their bottom line, MagMutual is able to deliver consistent returns while maintaining a positive financial outlook. This marks 22 years of dividends and over $315M in financial rewards returned to PolicyOwners since inception.
“As a true mutual, it is particularly at times like these we have to do as much as we can to support our PolicyOwners,’ said Joe Wilson, MD, executive chairman of MagMutual. “This always has been and always will be their company.”
Providing coverage to more than 30,000 physicians and healthcare organizations nationwide, MagMutual is currently the third largest mutual medical professional liability insurer in the country.
“In an unprecedented year and amidst a pandemic, we maintained our financial strength, enabling us to return another dividend when our PolicyOwners need it most,” said Neil Morrell, CEO of MagMutual. “Additionally, I’m pleased we were able to provide much-needed support to the physicians and hospitals we serve by delivering meaningful financial relief with premium deferral, discounts and more.”
