The Church of the Brethren has received another large dividend amounting to $63,784 from Brethren Mutual Aid and Brotherhood Mutual Insurance Company, through the company’s Partnership Group Program.
Brethren Mutual Aid is the sponsoring agency for the program, which rewards the annual claims experience of the congregations, camps, and districts that make up the group along with the denominational organization. Brotherhood Mutual has had a program that returns excess premiums not needed to pay losses, up to a certain level. The company has granted the dividend if the denominational group collectively enjoys a better-than-average claims experience.
There have been several years that the Church of the Brethren has received such a dividend. The amount of the dividend has varied, with last year’s thought to be the largest at $182,263.
This year’s may be the final dividend received through the program since Brotherhood Mutual has become a national company and will no longer be able to give dividends because some states do not allow excess premiums to be shared this way, and the company must abide by the most restrictive state laws.
The Annual Conference officers and interim general secretary, who make up the denomination’s Leadership Team, have decided to share this year’s dividend of $63,784 in the following manner:
-- 15 percent of the gross amount, or $9,567.60, to the Brethren Mutual Aid Share Fund, Inc.,
-- $5,000 to the new Puerto Rico District,
-- $23,000 to the other 23 districts ($1,000 each),
-- $1,000 to the Church of the Brethren finance office to pay related administrative costs, and
-- the remaining $25,216.40 to the Nigeria Crisis Fund.