Nearly $10 Million in Dividends Has Been Paid Out Since 1999
For the 21st consecutive year, WILMIC will be sending out dividend checks to policyholders.
The Board of Directors declared the dividend at its recent spring meeting after reviewing the company’s 2018 financial results. Cash dividends equal to ten percent of annual premiums will be sent to law firms currently insured by Wisconsin Lawyers Mutual. WILMIC has paid out almost $10 million in dividend payments to policyholders since 1999, including approximately $455,000 this year.
Katja Kunzke, WILMIC President and Chief Executive Officer, says, “Lower claims costs contributed to WILMIC’s financial success in 2018. Cash dividends are a mutual company’s way of distributing earnings back to its owners.”
“A dividend, true sharing of financial success, is what the mutual concept in insurance is all about,” Kunzke said. “Our board firmly believes it is important to return money to the policyholders after a year like last year. Policyholders deserve to share in our success.”
This will be the final year in which WILMIC pays all the dividends at one time in April. Beginning in 2020, if the board of directors declares a dividend, there will be a change in the timing of the checks. Because of new administrative procedures, dividend payments will go out when your policy ends, rather than in April, as long as your policy was in effect on March 10 of the year in which the dividend is declared. So, for example, if your policy expires in August, you would receive the dividend in early September of that year.
For this year, though, expect to receive that dividend check next month, as you have in past years.