Skip to main content

$15 Million Dividend Declared by Mutual Insurance Company of Arizona

Written by Customer Service on . Posted in Dividend Reports And Estimates.

PHOENIX, Jan. 05, 2024 (GLOBE NEWSWIRE) — The Mutual Insurance Company of Arizona® (MICA) announced today that its Board of Trustees has declared a dividend to its policyholders. A total of $15 million will be allocated among current members as of December 31, 2023, the record date. This dividend will be distributed in February 2024.

The dividend represents approximately 18% of a policyholder’s 2023 annual premium for those members insured by MICA for a full three-year period ending on the December 31, 2023 record date. Members current as of the record date who were consecutively insured less than the full three-year period will receive a pro-rated amount. Additional information regarding the policyholder dividend distribution for each member will be available on the member portal at www.mica-insurance.com in early February 2024.

“We are proud to extend our record of issuing policyholder dividends while rigorously adhering to MICA’s mission to protect, support and defend the practice of medicine,” said Edward G. Marley, MICA’s President and CEO. “This dividend distribution is a testament to MICA’s longstanding financial strength and stability, and we are delighted to share the company’s success with our members.”

Following the February 2024 dividend distribution, MICA will have returned $730 million in dividends to its policyholders since inception, including over $100 million in the last five years.

Since 2005, the MICA Board of Trustees has awarded dividends to our policyholders each year. Past performance does not guarantee future dividends.

About Mutual Insurance Company of Arizona

Mutual Insurance Company of Arizona (MICA) is a physician-owned and physician-directed mutual insurance company focused on providing medical professional liability insurance.
Since 1976, MICA has been recognized for its financial strength, claim management, careful loss reserving, risk management publications and programs, personal attention, and member focus. MICA provides coverage to individual physicians, physician groups, advanced health care professionals, and medical facilities in Arizona, Colorado, Nevada, and Utah. For more information, visit https://www.mica-insurance.com.

Contact: Hana Kim
Mutual Insurance Company of Arizona
hkim@mica-insurance.com
602-808-2253

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.