Dividends
Dividends are a unique feature of pooling. Unlike traditional insurance companies, which retain unused premiums and investment income as profit, NIRMA is a nonprofit organization. This means unencumbered monies that remain available after the payment of claims and general operating expenses are returned to our member/owners, not outside investors and shareholders.
Since 1991, NIRMA has returned nearly $12.85 million to our members. With the October 2011 dividend, it marked the 16th consecutive year and the 21st time since 1991 a financial return has been made to eligible members.
| Month | Members | Amount |
|---|---|---|
| October 2011 | 79 | $600,000 |
| August 2010 | 77 | $750,000 |
| February 2009 | 76 | $1,498,652 |
|
February 2008
| 70 | $788,448 |
|
February 2007
|
67
|
$500,000
|
|
February 2006
|
72
|
$1,000,000
|
|
February 2005
|
64
|
$500,000
|
|
February 2004
|
52
|
$500,481
|
|
February 2003
|
65
|
$1,000,000
|
|
July 2002
|
56
|
$400,000
|
|
February 2002
|
56
|
$400,000
|
|
February 2001
|
56
|
$1,000,000
|
|
February 2000
|
57
|
$500,000
|
|
December 1999
|
62
|
$1,000,000
|
|
February 1999
|
47
|
$528,000
|
|
February 1998
|
47
|
$420,000
|
|
May 1997
|
47
|
$311,493
|
|
December 1996
|
57
|
$264,998
|
|
February 1996
|
47
|
$367,000
|
|
February 1994
|
46
|
$392,398
|
|
August 1991
|
39
|
$127,182*
|
|
|
|
|
|
Total Returned
|
|
$12,848,652
|
* = NIRMA/NIRMA II returned $127,182 as credits against the forthcoming year’s premium in the form of retrospective premium adjustments.