Builders Celebrates 29 Years of Consistent Dividends
Builders, a prominent leader in the commercial insurance industry, has recently announced its preliminary financial results for the fiscal year end. This announcement marks an impressive milestone for the Atlanta-based company, showcasing strong earnings and significant growth across various financial metrics.
Impressive Financial Achievements
The report provided by the company highlights several notable achievements in 2024, with gross written premiums reaching an impressive $270 million. The company's statutory surplus saw a remarkable boost, totaling $383 million, which speaks volumes about its solid financial standing. Builders reported a consolidated combined ratio of 100.8%, taking into account policyholder dividends, and a promising loss ratio of 59.5%. Overall, the total members' equity for FY 2024 stands at an impressive $376 million.
Celebrating Policyholder Commitment
This year, Builders declared its 29th consecutive annual dividend payment. The dividend, amounting to $1.5 million, reflects the company's ongoing commitment to its policyholders. Over the past three decades, Builders has paid nearly $58 million in dividends, underscoring its dedication to rewarding loyal customers.
"With our 29th consecutive dividend, we acknowledge the commitments of our policyholders to ensure safe worksites," stated Todd Campbell, CEO and President of Builders. This statement emphasizes the company's focus on not just profitability, but also on fostering strong relationships with its clients and agents.
Eligibility for Dividend Payment
The criteria for policyholders to qualify for this year's dividend include maintaining continuous coverage since the beginning of the year and having an acceptable loss ratio. Additionally, policyholders are required to be part of a sponsoring association and must not have unresolved receivable balances. These criteria are in place to ensure that the dividend is awarded to those individuals who actively contribute to the company's stability and success.
Growth of Builders
Over the years, Builders has seen tremendous growth, amassing total assets exceeding $1 billion. The company is staffed by over 200 employees and operates more than 1,100 agency locations across the country. Serving over 21,000 businesses across various industries in 22 states, Builders remains committed to delivering quality commercial insurance policies that address the unique challenges faced by its clients.
About Builders
Founded over three decades ago, Builders has positioned itself as a leader in the property and casualty insurance sector. The company takes pride in its role as a reliable expert and workforce advocate. Through deep partnerships, a commitment to service excellence, and financial strength, Builders has earned the trust of its clients.
The company specializes in complex construction risks, showcasing exceptional expertise in workers' compensation, injury prevention, and top-tier medical management, thus driving outstanding outcomes across various professional sectors. Builders and its member companies hold an 'A' (Excellent) IX rating from AM Best, reflecting its strong market reputation.
Frequently Asked Questions
What is the significance of Builders' 29th consecutive dividend?
This milestone highlights Builders' strong financial performance and commitment to its policyholders, recognizing their loyalty over the years.
How has Builders performed financially in recent years?
Builders showcased significant growth with over $270 million in gross written premiums and a strong statutory surplus of $383 million.
What criteria must policyholders meet to qualify for the dividend?
Policyholders must have continuous coverage since January 1 of the current year, maintain an acceptable loss ratio, and belong to a sponsoring association without unresolved balances.
How does Builders support its policyholders?
Builders partners with agents to manage risk effectively and provides steadfast coverage and financial strength, ensuring the safety and profitability of its clients.
What areas does Builders serve?
Builders operates in 22 states and offers commercial insurance policies to over 21,000 businesses in various industries.
