MagMutual Declares 2015 Dividends and Owners Circle® Benefits

ATLANTA, March 10, 2015 /PRNewswire/ -- MagMutual Insurance Company, the Southeast's largest policyholder-owned professional liability insurer, today announced a 2015 dividend of $14.5 million.

MagMutual also has pledged additional funds to the Owners Circle^® loyalty program equal to 25 percent of a policyholder's premium at the time of eligibility. MagMutual will credit the dividend starting June 1 to policyholders of record as of April 1. This means that in 2015 MagMutual will return more monies back to policyholders than in any year in the company's 33-year history.

Since 2012, MagMutual has returned $57.5 million to policyholders in the form of dividends and pledged a further cumulative $200 million to the Owners Circle.

"Our primary mission is to serve our physician and hospital policyholder-owners, and we are driven to deliver strong financial results on their behalf," said Dr. Joe Wilson Jr., chief executive officer. "We remain committed to ensuring the financial benefit we derive from our efforts is returned to our policyholders."

A record of strong financial performance has enabled MagMutual to deliver robust dividends and rewards. The company recently reported financial results for 2015, including total admitted assets, of more than $1.6 billion, with more than $773 million in surplus.

"We're extremely proud that in 2014 we've been able to pledge back more than we've earned," said Neil Morrell, president of MagMutual. "Few companies in our industry reward policyholders to the extent we do in the form of dividends and Owners Circle allocations."

About MagMutual
Founded in 1982, Atlanta-based MagMutual is a leading provider of medical professional liability insurance and practice-improving patient safety resources for physicians and hospitals. It is the fourth largest policyholder owned and led mutual insurer in the country. The company is rated A (Excellent) by A.M. Best. Insurance products and services are issued and underwritten by MAG Mutual Insurance Company and its affiliates. For more information, visit www.MagMutual.com

SOURCE MagMutual

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