ITDG's Captive Insurance Company Pays Another Dividend
Shareholders of the captive insurance company of the Independent Tire Dealers Group LLC (ITDG) are earning a dividend again this year. The $1,000 per share dividend matches the original value of a share when the insurance company was created in 2005.
The Independent Innovative Captive Insurance Co. Inc. (IICIC) works to reduce and stabilize workers compensation costs for shareholders and members of ITDG. The company currently writes workers compensation policies in six states (California, Colorado, Arizona, New Mexico, New York and Oregon) and is looking to expand to help more ITDG members.
Since it's inception, IICIC has accumulated earnings of more than $4 million with a 12.9% return on investment.
Shareholders will receive their dividends prior to the upcoming annual shareholders meeting on May 5.
At the end of 2017 IICIC's share value was 5.1 times greater than its original acquisition cost, in spite of several prior dividends being paid.
The company attributes its success to these factors: strict underwriting guidelines, industry specific safety policies, dedicated in-house defense council, and a dedicated in-house risk management team. Plus, those who are insured own the company.