Baton Rouge, La. (August 19, 2019) LWCC’s board of directors has declared a $136 million mid-year dividend to be distributed in October 2019 to approximately 20,000 businesses throughout Louisiana.
“We see this dividend as not only part of our long-term capital management strategy, but also in service to our long-term vision and promise,” stated LWCC Board Chairman Byron Craig Thomson. “As we broaden our journey as a champion of Louisiana, we want our policyholders, Louisiana business and workers, to know that it is their journey too.”
LWCC’s vision is to elevate Louisiana’s position in America. Agents are LWCC’s first partner in this effort by together bettering Louisiana one business and one worker at a time. Past dividends have often been used by policyholders to implement safety improvements and invest in their businesses.
“Our dividend program is made possible by our agents’ sound counsel to policyholders; our policyholders’ hard work and safety improvements; and our employees’ dedication to excellence in execution,” said LWCC President and CEO Kristin W. Wall.
This mid-year dividend does not replace the potential for LWCC’s 2019 dividend. While the Board can’t guarantee future dividends, it expects to proceed with LWCC’s normal dividend program, distributing the 2019 dividend in the second quarter of 2020.
As a mutual insurance company, LWCC is able to share profits with policyholders when it achieves strong financial results. Through the dividend program, LWCC has returned $848 million to policyholders over a period of 16 consecutive years. This amounts to more than LWCC’s total underwriting profit since inception in 1992.
LWCC is a champion of Louisiana business and proud to be headquartered in the state capital, Baton Rouge. As a model single-state, private mutual workers’ comp company, we promote safety, security, and stability in our state. LWCC is dedicated to excellence in execution from underwriting to life-long care of injured workers. We are proud to partner with our agents and together deliver outstanding service to our policyholders and their workers. Our commitment is to be there for Louisiana business. Always. Our mission is to help Louisiana thrive by bettering our state one business and one worker at a time. LWCC has been recognized by industry leading benchmarker, AON, and named to the 2019 Ward’s 50® group of top-performing insurance companies for achieving outstanding results in the areas of safety, consistency, and performance over a five-year period, 2014-2018. LWCC is pleased to be named as one of the 2018 Best Places to Work in Baton Rouge by Best Companies Group. For more information on the Corporation and its services, please visit www.lwcc.com.
LWCC Media Contact: Jennifer Vaccaro, (225) 924-7788, Jennifer.Vaccaro@lwcc.com