PORTLAND, Maine — The MEMIC Group announced today that its Board of Directors has authorized a $17 million dividend for more than 17,000 Maine policyholders. Since 1998, MEMIC has returned $406 million in dividends to policyholders across all 16 counties in Maine. 

“There's no question that Maine businesses are navigating a lot of uncertainty right now. We understand that because we work alongside them every day,” said Michael Bourque, President and CEO of The MEMIC Group. “At a time of rising costs, helping policyholders operate more safely and efficiently matters more than ever. Today's $17 million dividend is another way we can return value directly to the businesses we serve that drive this economy, employ our neighbors and keep communities moving forward.” 

Since MEMIC’s founding in 1993, lost-time injuries in Maine have been reduced by approximately 50%. Safer workplaces have led to lower costs for employers. Maine regulators recently approved a significant reduction in advisory costs—an average decrease of 4.8% for 2026. This continues a multi-year trend of declining statewide rates, with advisory costs falling almost 48% over the past five years. These reductions have translated into premium savings for many employers. 

“It also means that with this dividend, MEMIC has returned more than $400 million to Maine policyholders since 1998. It means we are taking care of our employees in this state and that these dollars are staying in Maine,” Bourque said.  

This annual dividend is calculated based on MEMIC’s financial performance, claims experience, and the collective success of policyholders in maintaining safe workplaces during the 2023 calendar year. The $17 million distribution is more than 10% of eligible premiums paid by policyholders that year and will be distributed next month.

###

About The MEMIC Group 

The MEMIC Group includes MEMIC Indemnity Company, MEMIC Casualty Company, and its parent company, Maine Employers’ Mutual Insurance Company. All companies are rated “A” (Excellent) by A.M. Best for financial strength and stability. 

MEMIC is licensed to write workers’ compensation coverage across all 50 states. We partner with more than 22,000 employers and support approximately 1 million of their employees through proactive safety services and compassionate injury management. Our teams are committed to helping workplaces thrive, from Maine to Florida and beyond. 

In January 2026, The MEMIC Group acquired The Dakota Group® including Risk Administration Services Inc. Go to the full press release to learn more. 

For more information, visit www.memic.com.