Rounds

The Medical Mutual Board of Directors approved a dividend of $8 million this spring, or approximately 21 percent of eligible (primary) premiums collected. It is the largest dividend in the Company's history and, including 2020's mid-year pandemicrelated dividend, it marks the 16th dividend declaration in the past 16 years.

In a letter to member-policyholders dated February 25, 2022, Company President and CEO Frank Lavoie, MD, MBA, attributed the lion's share of the dividend to a significant drop in newly-filed claims from 146 to 102 in 2021, which led to reserve drawdowns of $7.2 million. In the same letter, new Board Chair O. Robert Stevens is quoted as saying the "dividend is also a testament to the operational efficiencies and conservative management approach of the Company\s leadership team."

As always, the premium giveback is being issued this year as a credit toward policy renewals. For more information, visit Dividends.