MICA Announces $17 Million Dividend
The Mutual Insurance Company of Arizona (MICA) announced today that its Board of Trustees has declared a policyholder dividend* of $17 million to be allocated among participating policyholders who are current MICA members as of December 31, 2021, to be distributed in February 2022.
Each member’s share of the 2021 dividend is calculated based on each member’s proportion of uninterrupted earned premium relative to the company’s total earned premium over the three-year period beginning January 1, 2019 and ending December 31, 2021.
For policyholders insured by MICA for the full three-year period, the dividend represents approximately 20% of their 2021 annual earned premium. The policyholder dividend is derived from a combination of favorable claims experience and strong investment performance.
Following the February 2022 dividend distribution, MICA will have returned $700 million in dividends to its policyholders since 1988, including $125 million in the last five years alone.
*The dividend declared for the 2021 policy year reﬂects the company’s ﬁnancial performance. Past performance does not guarantee future dividends. This policy has exclusions, limitations, and terms under which the policy may be continued in force or discontinued. For costs and complete details of coverage, contact your insurance agent or MICA.