NKMi declares $750,000 refund to eligible policyholders
Eligible NKMi policyholders are enjoying a key benefit of being a member of a mutual insurance company because they’ve received their share of a $750,000 refund. Thanks to the company’s successful performance in 2013, the refund will be approximately 22% for 2013 property premiums.
NKMi’s Board of Directors declared the refund, which will be shared amongst qualifying, non-auto policies. (Note: Policy premiums must be current in order to receive the refund.)
Board Chair Scott Kilbride was pleased to share the company’s success with the policyholders, saying that “reaching satisfactory financial goals and measures has provided the Board with an opportunity to approve a refund”.
The qualifying property policyholders should expect their refunds by mid-March. This will be the 12th refund paid out to NKMi policyholders over the past 15 years.
“The refund is possible this year thanks to conservative growth across all lines of business, respectable returns on investment portfolios, and an unprecedented underwriting gain to the credit of our conscientious policyholders.” – John Leeson, CEO