Policyholder Dividend
Learn how MEMIC's mutual insurance model can return value to eligible policyholders when company results allow.
$17 million2026 policyholder dividend
$406 millionReturned to policyholders since 1998
17,000 Eligible policyholders receiving a dividend
The mutual insurance company is a classic American form of corporation dating back to The Philadelphia Contributorship, a mutual fire insurance company started in 1752 by Benjamin Franklin and his neighbors that later incorporated in 1768. A mutual creates a shared purpose among its policyholders.
- MEMIC is owned by its policyholders
- Financial strength supports long-term stability
- The board may declare a dividend when results allow
2026 dividend
Sharing success with our policyholders
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.
Our mutual model
Better together
Common dividend questions
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