LWCC posts record-high dividend

Louisiana Workers’ Compensation Corp. says it notched its largest dividend ever in 2012—$48.7 million—and that it will begin paying it back to qualifying policyholders in the state next month. Last year’s dividend is more than double that which LWCC recorded in 2011, $23.5 million. The previous record dividend the firm recorded was $45.5 million in 2007. LWCC Chairman Donald Bollinger says in a prepared statement that “LWCC’s substantial dividend for 2012 clearly reflects the company’s outstanding financial performance during the year.” LWCC says its paid policyholders more than $231 million in dividends over the past decade. More than 16,000 policyholders will receive a portion of the new dividend. Individual dividend awards are based on a calculation that takes into account policyholders’ premium and longevity with LWCC over the last five years, the firm says. LWCC is a private nonprofit and the largest writer of workers’ compensation insurance in the state.