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The $22 million represents nearly 15% of premium paid for policies issued in 2015, the qualifying year for the dividend declaration. The $22 million represents nearly 15% of premium paid for policies issued in 2015, the qualifying year for the dividend declaration. (Photo: Shutterstock)

More than 17,000 Maine employees will receive a record $22 million in dividends this November from The MEMIC Group, the state’s leading workers’ compensation insurer. With this most recent dividend, MEMIC will have returned more than $263 million to policyholders over the past 20 years.

“This money will be delivered to employers in all sixteen counties and will help boost the Maine economy,” Michael Bourque, MEMIC president and CEO, said in a statement. “As we have been told, this money often is used for expansions, safety enhancements, debt reduction, new hires, wages, benefits and every other aspect of running a safe and successful enterprise.”

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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