BATON ROUGE, La. (February 27, 2013)—The Board of Directors of Louisiana Workers’ Compensation Corporation (LWCC) has declared a 2012 dividend of $48.7 million, the company’s largest dividend ever. It will be paid to qualifying policyholders in March and April, bringing LWCC’s cumulative total dividend paid to policyholders over the past 10 years to more than $231 million.
LWCC’s previous dividend, for the year 2011, totaled $23.5 million. Prior to 2012, the largest dividend paid by the company had been $45.5 million in 2007.
More than 16,000 policyholders will receive a portion of the new dividend. Individual dividend awards are based on a calculation that takes into account policyholders’ premium and longevity with LWCC over the last five years.
“Policyholders are the reason our company exists, and we look forward to presenting them with this significant dividend,” said LWCC President and CEO Kristin W. Wall. Because of LWCC’s continuing strength and stability, we are able to show our gratitude to the many Louisiana businesses we insure.”
LWCC Chairman Donald T. “Boysie” Bollinger added, “LWCC’s substantial dividend for 2012 clearly reflects the company’s outstanding financial performance during the year. We are pleased to reward our policyholders for their loyalty and commitment to LWCC by paying them a dividend.”
LWCC (www.lwcc.com) is a private, nonprofit mutual insurance company that is the largest writer of workers’ compensation insurance in Louisiana. The company carries an “A” (Excellent) rating from A.M. Best.
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