HEMIC Announces $5 Million Dividend for Policyholders

HONOLULU - Sept. 12, 2024 - PRLog -- The Board of Directors of Hawaii Employers' Mutual Insurance Company, Inc. (HEMIC) is pleased to declare a $5 million dividend for qualifying policyholders, marking a return to the largest dividend amount issued in HEMIC's history. With this declaration, HEMIC will have issued over $53 million in dividends to Hawai'i policyholders since 2007.

This year's dividend reflects HEMIC's steady and stable growth paired with strong policyholder and agent partnerships to ensure safer workplaces.

"As a result of steady, successful growth and a diligent focus on performance, we are pleased to be able to deliver our largest dividend amount during what is a critical time for many Hawaii employers," said HEMIC CEO, Martin Welch. "HEMIC's dividend program is a vital demonstration of our commitment to our customers and exemplifies what can be achieved when we work together to ensure safety."

As Hawai'i's only local, mutual insurance company, owned and governed by its policyholders, HEMIC's mission is to serve Hawai`i businesses and their workers with expertise, superior service, and aloha. To qualify for a dividend, HEMIC policyholders must be insured for more than one consecutive policy term and maintain a history of good performance.

"With disciplined underwriting and a conservative, diversified capital management strategy, we are able to balance growth and stability over the long-term, growing our surplus as a result," said Jason Yoshimi, HEMIC President and CFO. "We are dedicated to serving our policyholders for the long-run, delivering on our financial promises for years to come."

HEMIC is the largest writer of workers' compensation in Hawai`i. While the law does not allow any insurance company to guarantee future dividends, HEMIC's Board of Directors view the payout of dividends as an important goal for the company.

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About HEMIC

HEMIC is the State of Hawai`i's leading workers' compensation insurance company, caring for nearly 7,000 businesses and 75,000 workers across the Hawaiian Islands. HEMIC is rated "A" for financial strength by AM Best.

An expert in safety, HEMIC helps employers prevent workplace injuries as well as care for injured workers. HEMIC has two wholly owned subsidiaries to help businesses with their additional insurance needs:  Employers' Protective Insurance Company, Inc. (EPIC) provides temporary disability insurance (TDI) and HEMIC Insurance Managers, Inc. (HIMI) brokers other lines of commercial business insurance, offers risk management consulting services, and provides multiline third-party administrator services to self-insured and captive entities.

To learn more about the HEMIC Family of Companies, please visit www.HEMIC.com.