Board of Directors Declares Two Dividends
At a recent meeting of SAIF Corporation’s Board of Directors, the board reviewed SAIF’s financial results and declared dividends to be paid during October to more than 46,000 eligible policyholders with policy expiration dates in 2015.
A $120 million primary dividend will be paid to all eligible policyholders based on their premium, and a new, $20 million safety performance dividend will be paid to those with paid-to-standard loss ratios below 80 percent. About 95 percent of SAIF’s policyholders are eligible for the safety performance dividend.
The dividends are possible because of SAIF’s overall financial results, including investment returns and favorable trends in claim costs (due, in part, to workplace safety and health efforts). We appreciate the contributions of all of our association partners in helping us achieve these results.
What Does That Mean for AGC Members?
AGC members participating in the AGC/SAIF group program will receive approximately $6.8 million in primary dividend, and $1 million in the safety performance dividend. Your agent or SAIF will be contacting participants directly in October with your specific details.
Information about the declaration can be found in the news release recently posted on saif.com. Detailed dividend distribution process information is available in the FAQ document.