ATLANTA, April 8, 2013 /PRNewswire/ -- Builders Insurance Group today announced that member company Builders Insurance (A Mutual Captive Company) will distribute its 17th consecutive annual dividend payment to its qualifying Georgia policyholders in the second quarter of 2013. This year's dividend of approximately $1.12 million brings the total of dividends paid to more than $47 million.
"With our 17th consecutive dividend payment, Builders Insurance Group demonstrates again the solid financial foundation built over the last two decades by developing strong relationships with agency partners and policyholders," said Allen Richardson, Chairman of the Board of Builders Insurance. "With the dividend, we demonstrate our continued commitment to our most loyal policyholders whom we look forward to serving well into the future."
"Builders Insurance Group is able to pay this dividend because we continued to diversify our business by adding innovative products in new and existing markets, while providing comprehensive protection and quality service to our policyholders," added Patrick Mitchell, President and Chief Executive Officer. "Today, we are a stronger, more nimble Company, prepared to take advantage of the emerging market recovery."
To be eligible to receive a dividend, a Georgia policyholder must have maintained continuous coverage with Builders Insurance (A Mutual Captive Company) since December 31, 2009 and must have an acceptable loss ratio. In addition, the policyholder must have maintained membership in a sponsoring association and be without any unresolved receivable balances.
More than 15,000 policyholders in residential and light commercial construction as well as variety of non-construction fields rely on Builders Insurance Group to protect their most important assets – people and property. Over a span of two decades, the Company has developed a portfolio of outstanding products with exceptional customer service and easy-to-use technology solutions. Headquartered in Atlanta, the Company delivers innovative Workers' Compensation, General Liability, Property and Umbrella insurance through independent agents to customers in sixteen states, focused primarily in the Southeast and in select states as far west as Texas and Utah. Builders Insurance Group and all of its member companies are rated A- (Excellent) VIII by A.M. Best Company. For more information, please visit our Web site at www.bldrs.com.
SOURCE Builders Insurance Group