California’s State Compensation Insurance coverage Fund on Thursday introduced plans to distribute a roughly $55 million dividend to its qualifying policyholders with insurance policies that took impact between Jan. 1 and Dec. 31, 2021.
The dividend equals roughly 5% of the estimated annual premium reported throughout that interval.
State Fund final 12 months reported roughly $1.1 billion in estimated annual premium and roughly $159 million in realized capital features.
“Because of the important capital features we realized in our fairness portfolio, and our robust monetary place, we’re in a position to return cash to our policyholders for the third consecutive 12 months,” mentioned State Fund president and CEO Vern Steiner.
State Fund policyholders eligible for the 2021 dividend will start to obtain their funds after the expiration date of their particular person insurance policies.
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