SAIF Corporation declares dividend for policyholders
Board of directors approves a $60 million total dividend; checks to be mailed to more than 41,000 employers in mid-December.
FOR IMMEDIATE RELEASE
Contact: Chris Davie | 503.373.8006 | chrdav@saif.com
Salem, OR – SAIF Corporation's board of directors today declared a $60 million dividend for more than 41,000 current and former customers. It is the first time since October 2000 that SAIF has declared a dividend.
Customers with policy periods that expired in 2006 are eligible for the dividend. Individual dividend information will be available to employers on SAIF's website, saif.com, beginning November 19, 2007.
Checks will be mailed to eligible SAIF policyholders during the week of December 10, 2007. Dividend amounts will range from 12.61 percent to 14.93 percent of premium.
SAIF officials said the state-chartered company is able to pay a dividend this year because of favorable investment performance and better-than-expected loss experience.
"The SAIF board is a fiscally cautious group, and we looked at the numbers very carefully," said John Anhorn, chair of SAIF's board. "Reports from independent auditors show that SAIF is on solid ground financially and has the funds it needs to meet its obligations."
"We are proud to return $60 million to Oregon employers. Making workers' compensation affordable is what SAIF is all about," said SAIF President and Chief Executive Officer Brenda Rocklin. "Our vision is to make Oregon the safest place to work. Lower insurance costs enable employers to invest in making their workplaces safer and support the economy."
SAIF Corporation is Oregon's not-for-profit, state-chartered workers' compensation insurance company. SAIF has been doing business for more than 90 years and is the leading workers' compensation insurance provider in Oregon.
For more information, visit the "News and media" page on saif.com.