2022 Annual Report
President's Letter
Our response to more than three years of disruption and change has made us an even stronger organization.
In 2022, we were proud to declare a dividend for the fourth consecutive year. We will be returning approximately $58.5 million to policyholders with a policy inception date in 2022. This is money that will go directly to the bottom lines of large and small businesses all across our state and will help them invest in their organizations by creating jobs, upgrading equipment, or paying down debt. Given the current state of economic uncertainty that many businesses face, as well as the increased cost of borrowing, this support could not come at a better time for our policyholders.
I am very proud that over the last four years State Fund has declared approximately $391.5 million in dividends in total. We also provided an additional $44 million to policyholders in the form of safety grants during the first year of the COVID-19 pandemic. And since our creation, we've returned well over $5 billion to our policyholders.
Declared dividend for fourth consecutive year
Our strong financial results enabled us to once again provide a dividend for our policyholders.
Successfully launched new online quote and bind system for brokers
We continue to improve our technology to meet the needs of our customers.
Achieved best customer satisfaction scores ever
As we continue to find ways to improve our service, our satisfaction surveys in 2022 reflected our efforts.
We've been helping business owners for more than 100 years and we're prepared to be here for the next 100 as well.
Financial Summary
View the most important parts of our 2022 financial picture.
Statutory Annual Statement
Our required annual statement to the California Department of Insurance.
