PURE Allocates $22 Million to SSAs & Makes Cash Distribution to its Most Loyal Members
July 22, 2020
Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for responsible high net worth individuals and families, announced today the allocation of $22 million of policyholder surplus back to members in the form of Subscriber Savings Accounts (SSAs). This is the eighth consecutive year PURE has made an allocation to SSAs for a total of more than $100 million.
This allocation is accompanied by the launch of PURE Gold, a loyalty program through which members who have been with PURE for 10 years or more may receive annual cash distributions. PURE Gold reflects the insurer's appreciation for member loyalty.
"With the backing of Tokio Marine, one of the largest and most respected insurers in the world, PURE is strongly positioned to recognize the important contribution of those members who joined a decade or more ago and whose enthusiastic support of PURE has fueled our growth."
Ross Buchmueller, President and CEO of PURE Insurance
"Programs like PURE Gold should help ensure that the referrals from existing PURE members continue to be our greatest source of new members," said Buchmueller.
Based on input from PURE's Subscribers' Advisory Committee, PURE Gold members will be given the option of receiving their payment as a check for their 2019 distribution or donating it to Feeding America. More than 2,500 members will qualify for this distribution.