MICA Declares a Dividend for 2020

At its recent December meeting, the MICA Board of Trustees declared a $20 million dividend* to be distributed to participating member policyholders in February 2021.

This dividend is derived principally from favorable claims activity during 2020. The dividend declaration represents approximately 25% of 2020 policyholders’ premium, for current members who have been insured with MICA for 36 consecutive months as of December 31, 2020. Those insured with MICA for a shorter period will receive a proportionate dividend based on their number of months with MICA.

This dividend represents the second declared by the MICA Board during 2020. The first dividend was $12 million, which was declared in April and distributed in June. The $12 million dividend was declared in response to the member business disruptions caused by COVID-19.

MICA is a mutual insurance company. Following the February 2021 distribution, MICA will have returned $683 million to its member owners since inception, including $32 million for 2020 and $134 million over the last five years.

On behalf of the MICA staff and Board of Trustees, thank you for your support.

*The dividend declared for the 2020 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.