ATLANTA, March 14, 2011 /PRNewswire/ -- Builders Insurance Group today announced that member company Builders Insurance (A Mutual Captive Company) will distribute its 15th consecutive dividend payment to its qualifying Georgia policyholders in the second quarter of 2011. This year's dividend distribution of approximately $1.8 million brings the total amount of dividends paid to more than $45 million.
"The Company, Board and Staff are pleased to once again deliver a significant Dividend distribution to our loyal policyholders," said Allen Richardson, Chairman of the Board for Builders Insurance Group. "This payout is a testament to the financial strength of our Company in withstanding difficult economic conditions, the success of our long-term strategic vision and to the dedication of our agents and policyholders in maintaining safe work environments."
"It has been a tremendously productive year for Builders Insurance Group with the expansion of our Company through new products such as our Commercial Package Policy and into new territories including Colorado," added Patrick Mitchell, President and Chief Executive Officer. "This year's Dividend is more than three times what was paid last year and a definitive sign that our Company can overcome challenges and continue to be a reliable partner to our policyholders. As the economy begins its recovery, we are well positioned to take advantage of the opportunities presented by an improved marketplace."
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, 2007 and must be without any unresolved receivable balances. In addition, the policyholder must have maintained membership in an approved association membership organization.
Nearly 14,000 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 almost two decades of operation, the company has evolved into a dynamic, financially secure and dedicated partner with a philosophy of providing outstanding products, backed by exceptional customer service and easy-to-use technology solutions. Headquartered in Atlanta, the company delivers innovative Workers' Compensation, General Liability and Property insurance through independent agents to customers throughout the Southeastern, Mid-Atlantic and Midwestern United States as well as Colorado and Texas. 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