Texas Mutual Insurance Company

Overview

Texas Mutual Insurance Company is the largest provider of workers' compensation insurance in Texas, holding approximately 40% of the market and servicing over 75,000 business policyholders. Founded in 1991 and restructured in 2001, it plays a critical role in stabilizing the workers' compensation system in Texas. Beyond insurance, Texas Mutual is committed to community safety, economic stability, and innovation, with investments such as a $350 million dividends distribution and substantial grants for workforce development.

Leadership

The leadership team at Texas Mutual is headed by Jeanette Ward, who became President and CEO in March 2023, with a long tenure at the company since 1993. Bill Potter serves as Senior Vice President and Chief Financial Officer, contributing deep accounting expertise since 2018. The Chief Transformation Officer, Greg Carter, was appointed in December 2024, driving the company's innovation and transformation initiatives. Additional key personnel include Larry Martin as Senior Vice President of Human Resources, Eric Bourquin as Vice President of Safety Services, Rhonda Barker as Vice President of Premium Audit, and Jeremiah Bentley as Vice President of Marketing & Community Affairs.

Financial Performance

In 2023, Texas Mutual posted revenues of approximately $1.39 billion with expenses at $1.29 billion. The company's financial strength is underscored by AM Best awarding them a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of "aa-" (Superior). Additionally, with an estimated annual revenue of $387.8 million, Texas Mutual employs around 1,259 staff, indicating a revenue per employee of $308,000.

Community and Innovation

Texas Mutual is dedicated to being a "force for good," with initiatives like a $1.3 million investment in the United Way of Greater Houston, backing for Texicare with $300 million in funding, and over $4.5 million in workforce development grants. Their pioneering disaster preparedness website is a testament to their proactive safety endeavors. Additionally, they support industry education, evidenced by a $100,000 grant to Midland College for its risk management institute.

Corporate Culture

Texas Mutual emphasizes a service-oriented culture, career growth, and community engagement, earning recognition as an attractive workplace. Their service commitment includes comprehensive support for agents, healthcare providers, and injured employees.

Strategic Direction

The strategic focus of Texas Mutual includes maintaining financial robustness while delivering exceptional customer service. The company aligns its objectives with the legislative mandate to maintain a stable workers' compensation framework in Texas, ensuring compliance and competitive market presence.