2015-11-02T15:28:31-07:00 2014-12-31 990 2014-01-01 742615873 TEXAS MUTUAL INSURANCE COMPANY TEXA 8008595995 6210 East Highway 290 Austin TX 78723 Mike Barron SVP & CFO 5122247972 2015-10-30 2014 2016-04-25 22:37:26Z Mike Barron 6210 East Highway 290 Austin TX 78723 4452698224 0 X www.texasmutual.com X Mutual 1991 TX Established by Texas statute to serve as a competitive force and act as the workers' compensation insurer of last resort. 9 9 948 0 -121363 -121363 0 0 989335921 1138418349 266434089 324054536 812677 593091 1256582687 1463065976 0 0 0 0 82701889 89630390 0 0 0 928052435 1052188063 1010754324 1141818453 245828363 321247523 5517176651 5997451061 3186694625 3436435897 2330482026 2561015164 Established by Texas statute to serve as a competitive force and act as the workers' compensation insurer of last resort. 0 0 1139011440 The Company wrote 69,818 policies during 2014. At the end of 2014, the Company had 62,456 policies in force covering approximately 1,402,267 Texas employees. During the year, 47,900 claims were received and processed, and approximately $403 million in benefits were paid out to injured workers. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7575 0 1 948 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 0 1 1 1 1 0 1 1 0 1 1 1 1 1 1 1 0 X Mike Barron - SVP and CFO 5122247972 6210 East Highway 290 Austin TX 78723 Robert C Barnes Director 4 X 109500 0 0 Linda Foster-Smith Director 4 X 74500 0 0 Tommy D Philips Director 4 X 72000 0 0 Eric L Oliver Director 4 X 71000 0 0 Jay L Eisen Director 4 X 65500 0 0 John D Swanson Director 4 X 59000 0 0 John H Young Director 4 X 57500 0 0 Delia Reyes Director 4 X 57000 0 0 Bernard C Francis Director 4 X 57000 0 0 Richard J Gergasko President & CEO 40 X 625704 0 79129 Perry Michael Barron SVP & CFO 40 X 395987 0 60140 Leonard Randall Johnson SVP Investments 40 X 372640 0 86205 William Allen McLellan SVP Information Technology 40 X 380521 0 48784 Steven E Math SVP Underwriting 40 X 334184 0 52158 Mary B Nichols General Counsel & SVP 40 X 370616 0 47440 Benjamin Joel Turner SVP & Chief Actuary 40 X 341297 0 80182 Joseph Albert Yurkovich SVP Strategic Plang & Policyholder Services 40 X 319167 0 47444 Terry L Frakes SVP Public Affairs 40 X 335201 0 37408 Brenda J Ward SVP Claims 40 X 318848 0 57159 Terrence L Buchheit VP Applications 40 X 274669 0 67951 David W John VP IT Infrastructure 40 X 258545 0 76871 Mitchell D Walsh VP Insurance Services 40 X 250702 0 73289 Kenneth W Lauber VP Business Development 40 X 253345 0 28802 Jody Ann Heins VP Financial Services 40 X 253241 0 49689 James R Kohloff VP Regional Operations 40 X 224136 0 67365 Lynette T Caldwell VP Human Resources 40 X 249231 0 63578 Kim Haugaard VP Network & Medical Ops 40 X 249881 0 58912 Phoebe Alexis Samuels Tinney VP & Associate Actuary 40 X 213460 0 46712 Jeffrey Paul Lentz VP Underwriting 40 X 217019 0 69859 Nicholas Francis Tsourmas VP & Medical Director 40 X 190195 0 35840 Jo Betsy Norton VP Public Affairs 40 X 222724 0 55699 Ernest W Stokey VP Premium Audit 40 X 229916 0 32132 Woody Lee Hill VP Safety Services 40 X 193880 0 48629 Billy A Jackson VP Regional Operations 40 X 190006 0 45367 Barbara Joann Drollinger VP Regional Operations 40 X 193893 0 21452 Bill W Huckaby VP General Auditor 40 X 201674 0 48393 Timothy Patrick Riley VP Special Investigations 40 X 211364 0 40998 Stacie Scarborough Feller VP Underwriting Systems 40 X 158206 0 47508 Shannon Simmons Pounds VP & SR Counsel 40 X 154237 0 34688 Diane Marie Starkey Sr Mgr IT 40 X 180528 0 41776 Margaret Ann Wilson Sr Mgr IT 40 X 172744 0 32986 Mychael V Ritterhoff Sr Mgr IT 40 X 172155 0 32767 Edward M Coates Sr Mgr Employee Services 40 X 168590 0 54497 Kyle A Whisenhunt Former Sr Mgr Premium Audit and Recovery 40 X 178585 0 34707 9680091 0 1806516 147 0 1 0 Combined Agents of America 6805 North Capital of Texas Hwy Ste 250 Austin TX 78731 Independent Agency 4048349 Amy Wick Marketing Communication 524 N Lamar Blvd Ste 202 Austin TX 78703 Advertising Services 3162917 Loomis Sayles & CO LP 111 E Kilbourn Ave Ste 2700 Milwaukee WI 53202 Investment Management Services 2261295 John L Wortham & Son LP 2727 Allen Pkwy Ste 2200 Houston TX 77019 Independent Insurance Broker and Consulting Services 1786898 Bank of America PO Box 405874 Atlanta GA 30384 Financial Services 1450869 42 0 Premiums Earned 524126 1138418349 1138418349 0 0 0 0 0 0 1138418349 166863449 0 0 166863449 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3146556280 267055 2989558172 74076 156998108 192979 157191087 0 -121363 157312450 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Finance & service charges 524126 593091 593091 0 0 0 0 0 0 593091 1463065976 1139011440 -121363 324175899 0 0 0 0 10417274 0 61441207 5439721 7355507 4976681 0 1013420 982125 1174111 0 15418543 12145202 4102284 4016750 12937361 0 5198919 1985688 0 402831 0 0 5282075 0 Losses incurred 566258069 Policyholder dividend 211199851 Commission 147422239 Taxes, licenses, and fees 30081039 32567556 1141818453 0 0 0 7494201 12585440 101345924 109888687 0 0 359982958 392308767 0 0 0 0 0 0 0 0 0 0 40862991 24085224 18876061 16777767 4755217993 5039326498 242945516 392222758 0 0 0 0 31313998 34341144 5517176651 5997451061 94598860 103871177 0 0 501127560 538850779 0 0 0 0 0 0 0 0 0 0 2590968205 2793713941 3186694625 3436435897 X 0 0 0 0 2330482026 2561015164 2330482026 2561015164 5517176651 5997451061 X 321247523 -84212644 0 0 0 -6501741 X 0 1 X 1 0 0 2827205 2827205 0 27617657 14638249 12979408 0 0 0 0 0 10418129 9446975 971154 0 0 0 0 16777767 0 0 Loomis Sayles Senior Loan Fund 65056476 F Western High Yield 36020714 F Western Bank Loans 18315970 F Western Opportunistic Intl Inv Grade 4220143 F Western Emerging Mkts Corp Credit Port 3894251 F Western Emerging Mkts Local Debt Port 4339902 F Western Opportunistic Structed Securities 11727057 F Golub Capital Pearls LP 48829277 F Maranon Senior Credit Fund II - A LP 32383941 F Silchester Intl Investors 47617500 F Clarion Lion Properties Fund 71413530 F USAA Eagle Real Estate LP 31646333 F Principal RE Debt Fund LP 6118556 F Partners Group RE Sec 2013A 10639108 F 392222758 Losses 2562866151 Loss adjustment expenses 214036571 Advanced premiums 11962504 Amounts withheld/retained by Comp for acct of others 3646159 Retroactive Reinsurance Reserve 1202556 2793713941 1463065976 0 0 0 0 0 1463065976 0 0 0 1463065976 1141818453 0 0 0 0 0 1141818453 0 0 0 1141818453 0 Europe (including Iceland and Greenland) Investments 10639000 0 0 10639000 1 0 0 1 1 0 Schedule F, Part I, Line 2 This not applicable as the foreign investment is not a grant nor is it providing other assistance. X X 0 1 0 Richard J Gergasko President & CEO 440577 0 174077 0 11050 0 57685 0 21444 0 704833 0 0 0 Perry Michael Barron SVP & CFO 286785 0 69300 0 39902 0 27820 0 32320 0 456127 0 0 0 Leonard Randall Johnson SVP Investments 280304 0 66812 0 25524 0 53885 0 32320 0 458845 0 0 0 William Allen McLellan SVP Information Technology 273094 0 65475 0 41952 0 27820 0 20964 0 429305 0 0 0 Steven E Math SVP Underwriting 265473 0 63648 0 5063 0 46482 0 5676 0 386342 0 0 0 Mary B Nichols General Counsel & SVP 265280 0 63602 0 41733 0 27820 0 19620 0 418055 0 0 0 Benjamin Joel Turner SVP & Chief Actuary 250709 0 60583 0 30006 0 49714 0 30468 0 421480 0 0 0 Joseph Albert Yurkovich SVP Strategic Plang & Policyholder Services 238824 0 56925 0 23418 0 27820 0 19624 0 366611 0 0 0 Terry L Frakes SVP Public Affairs 236507 0 56704 0 41990 0 27820 0 9588 0 372609 0 0 0 Brenda J Ward SVP Claims 230042 0 55589 0 33217 0 47571 0 9588 0 376007 0 0 0 Terrence L Buchheit VP Applications 203281 0 40935 0 30453 0 44487 0 23464 0 342620 0 0 0 David W John VP IT Infrastructure 195167 0 39267 0 24112 0 42344 0 34528 0 335418 0 0 0 Mitchell D Walsh VP Insurance Services 190733 0 37812 0 22157 0 41069 0 32220 0 323991 0 0 0 Kenneth W Lauber VP Business Development 189792 0 38158 0 25395 0 23782 0 5020 0 282147 0 0 0 Jody Ann Heins VP Financial Services 188468 0 37538 0 27236 0 40101 0 9588 0 302931 0 0 0 James R Kohloff VP Regional Operations 185225 0 36720 0 2192 0 35445 0 31920 0 291502 0 0 0 Lynette T Caldwell VP Human Resources 184504 0 36863 0 27864 0 39657 0 23921 0 312809 0 0 0 Kim Haugaard VP Network & Medical Ops 184229 0 36381 0 29272 0 39288 0 19624 0 308794 0 0 0 Phoebe Alexis Samuels Tinney VP & Associate Actuary 174879 0 35216 0 3365 0 26688 0 20024 0 260172 0 0 0 Jeffrey Paul Lentz VP Underwriting 173197 0 34155 0 9667 0 36704 0 33155 0 286878 0 0 0 Nicholas Francis Tsourmas VP & Medical Director 173077 0 0 0 17118 0 15750 0 20091 0 226036 0 0 0 Jo Betsy Norton VP Public Affairs 168624 0 33902 0 20198 0 36076 0 19624 0 278424 0 0 0 Ernest W Stokey VP Premium Audit 167855 0 33868 0 28193 0 20521 0 11612 0 262049 0 0 0 Woody Lee Hill VP Safety Services 164308 0 0 0 29572 0 16809 0 31820 0 242509 0 0 0 Billy A Jackson VP Regional Operations 159039 0 25575 0 5392 0 23203 0 22164 0 235373 0 0 0 Barbara Joann Drollinger VP Regional Operations 159039 0 25575 0 9280 0 21411 0 41 0 215346 0 0 0 Bill W Huckaby VP General Auditor 157269 0 30938 0 13467 0 24930 0 23464 0 250068 0 0 0 Timothy Patrick Riley VP Special Investigations 152927 0 29339 0 29098 0 32082 0 8916 0 252362 0 0 0 Stacie Scarborough Feller VP Underwriting Systems 148746 0 0 0 9460 0 15188 0 32320 0 205714 0 0 0 Shannon Simmons Pounds VP & SR Counsel 142590 0 0 0 11647 0 14663 0 20024 0 188924 0 0 0 Diane Marie Starkey Sr Mgr IT 148812 0 24068 0 7648 0 23423 0 18353 0 222304 0 0 0 Margaret Ann Wilson Sr Mgr IT 143332 0 23090 0 6322 0 22308 0 10679 0 205731 0 0 0 Mychael V Ritterhoff Sr Mgr IT 141222 0 22750 0 8182 0 21979 0 10788 0 204921 0 0 0 Edward M Coates Sr Mgr Employee Services 137445 0 22678 0 8467 0 22177 0 32320 0 223087 0 0 0 Kyle A Whisenhunt Former Sr Mgr Premium Audit and Recovery 35178 0 19857 0 123550 0 15612 0 19095 0 213292 0 0 0 Schedule J, Part I, Line 4 Richard J Gergasko $29,865; Perry Michael Barron $35,607; Leonard Randall Johnson $48,303; William Allen McLellan $33,857; Steven E Math $18,662; Mary B Nichols $32,888; Benjamin Joel Turner $48,445; Joseph Albert Yurkovich $17,745; Terry L Frakes $29,321; Brenda J Ward $43,976; Terrence L Buchheit $44,471; David W John $42,428; Mitchell D Walsh $37,326; Kenneth W Lauber $22,795; Jody Ann Heins $35,083; James R Kohloff $12,553; Lynette T Caldwell $41,319; Kim Haugaard $41,907; Phoebe Alexis Samuel Tinney $5,313; Jeffrey Paul Lentz $24,362; Nicholas Francis Tsourmas $10,385; Jo Betsy Norton $31,676; Ernest W Stokey $20,172; Billy A Jackson $4,803; Barbara Joann Drollinger $3,012; Bill W Huckaby $15,920; Timothy Patrick Riley $33,743; Diane Marie Starkey $18,019; Margaret Ann Wilson $13,902; Mychael Ritterhoff $16,055; Edward M Coates $17,680; Kyle A Whisenhunt $5,493 Form 990, Part VI, Section A, Line 7a The Company was established by Texas statute. The company has a nine-member Board of Directors consisting of Texas business employers. Five members, including the chair, are appointed by the Governor of Texas and confirmed by the Senate. The remaining four board members are elected by the policyholders. Form 990, Part VI, Section A, Line 7b Legislation prohibits the appointment or election of any person who has a potential conflict of interest because of other involvement in the insurance industry. Form 990, Part VI, Section B, Line 11b The 990 tax return is completed by an accountant in the Financial Reporting department using workpapers and verification to the Company's Annual Statement and Audited Statutory Annual Report. The return is reviewed by management prior to filing the return. Form 990, Part VI, Section B, Line 12c The Company's Conflict of Interest Policy is reviewed annually. The policy is distributed to all employees via a yearly publications email. All employees are required to acknowledge receipt by providing an electronic signature. Form 990, Part VI, Section B, Line 15 On an annual basis, compensation review data is performed by the Company's HR department for all benchmark positions, including executive positions. This information is provided to the Board of Directors for review. The Board of Directors approves the compensation package for the President and General Auditor. The President or his designee approves the pay for all other employees based on compensation data provided by Human Resources. Form 990, Part VI, Section C, Line 19 All external requests for organization information can be obtained through written requests. Additionally, certain financial information is available on the Company's website. Form 990, Part XI, Line 9 Change in non-admitted assets ($6,307,352); Change in provision for reinsurance $109; Post retirement medical plan ($194,498) 2014 Tax Return requires information from Form 990-T. Due date for Form 990-T is November 15, 2015. Form 990 extensions were filed and approved.