2016-11-10T16:59:26-07:00 2015-12-31 990 2015-01-01 742615873 TEXAS MUTUAL INSURANCE COMPANY TEXA 8008595995 6210 East Highway 290 Austin TX 78723 Mike Barron SVP & CFO 5122247972 2016-11-09 2015 2017-02-10 21:41:12Z Mike Barron 6210 East Highway 290 Austin TX 78723 5295874376 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 1006 0 0 0 0 0 1138418349 1132361006 324054536 205270874 593091 728688 1463065976 1338360568 0 0 0 0 89630390 96078848 0 0 0 1052188063 952850958 1141818453 1048929806 321247523 289430762 5997451061 6318486031 3436435897 3536632294 2561015164 2781853737 Established by Texas statute to serve as a competitive force and act as the workers' compensation insurer of last resort. 0 0 0 0 1133089694 The Company wrote 72,992 policies during 2015. At the end of 2015, the Company had 64,888 policies in force covering approximately 1,473,050 Texas employees. During the year, 45,958 claims were received and processed, and approximately $402 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 7321 0 1 1006 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 787231098 Robert C Barnes Director 4 X 117125 0 0 Tommy D Philips Director 4 X 87500 0 0 Linda Foster-Smith Director 4 X 80625 0 0 Eric L Oliver Director 4 X 71375 0 0 John D Swanson Director 4 X 62875 0 0 John H Young Director 4 X 60875 0 0 Jay L Eisen Director 4 X 59625 0 0 Bernard C Francis Director 4 X 55000 0 0 Delia Reyes Director 4 X 54000 0 0 Richard J Gergasko President & CEO 40 X 662018 0 97777 Perry Michael Barron SVP & CFO 40 X 425432 0 59301 William Allen McLellan SVP Information Technology 40 X 409646 0 49189 Terrence L Buchheit VP Applications 40 X 404072 0 74477 Leonard Randall Johnson SVP Investments 40 X 401771 0 91903 Mary B Nichols General Counsel & SVP 40 X 400100 0 40624 Steven E Math SVP Underwriting 40 X 377998 0 60890 Terry L Frakes SVP Public Affairs 40 X 357800 0 37529 Benjamin Joel Turner SVP & Chief Actuary 40 X 357369 0 82352 Brenda J Ward SVP Policyholder Services 40 X 343111 0 66092 Joseph Albert Yurkovich SVP Strategic Planning & Marketing 40 X 341879 0 48451 Lynette T Caldwell SVP Human Resources 40 X 292724 0 70675 Bill W Huckaby VP General Auditor 40 X 285116 0 62583 David W John VP IT Infrastructure 40 X 271309 0 80996 Kim Haugaard VP Network & Medical Ops 40 X 267722 0 67118 Nicholas Francis Tsourmas VP & Medical Director 40 X 252531 0 43955 Ernest W Stokey VP Premium Audit 40 X 245220 0 31185 James R Kohloff VP Regional Operations 40 X 240870 0 69087 Jo Betsy Norton VP Public Affairs 40 X 235119 0 57158 Jeffrey Paul Lentz VP Underwriting 40 X 232804 0 75713 Phoebe Alexis Samuels Tinney VP & Associate Actuary 40 X 231190 0 60235 Timothy Patrick Riley VP Special Investigations 40 X 225107 0 44015 Barbara Joann Drollinger VP Regional Operations 40 X 221570 0 32791 Woody Lee Hill VP Safety & Information Services 40 X 220497 0 62617 Curtis Wall Johnson VP Claim Operations 40 X 217965 0 47267 Billy A Jackson VP Regional Operations 40 X 217281 0 54610 Martin J Leifker VP Product Development 40 X 206334 0 57172 Stacie Scarborough Feller VP Underwriting 40 X 206101 0 61537 Erica Mae Sanchez VP Financial Services 40 X 198876 0 43194 Mitchell D Walsh Former VP Insurance Services 40 X 198714 0 36881 Shannon Simmons Pounds VP & Senior Counsel 40 X 198699 0 38966 Kenneth W Lauber Former VP Business Development 40 X 198542 0 31855 Jody Ann Heins Former VP Financial Services 40 X 194518 0 46592 Edward M Coates VP Employee Services 40 X 187496 0 57144 Carolyn C Howell Sr Mgr Customer Engagement 40 X 194844 0 45926 Diane Marie Starkey Sr Mgr IT 40 X 188690 0 44314 Jim E Ziolkowski Sr Mgr Underwriting 40 X 188584 0 36801 Margaret Ann Wilson Sr Mgr IT 40 X 185499 0 34360 Jeannette A Sprague Sr Mgr IT 40 X 181769 0 49683 11315887 0 2153015 191 0 1 0 Combined Agents of America 6805 North Capital of Texas Hwy Ste 250 Austin TX 78731 Independent Agency 3245584 Amy Wick Marketing Communication 524 N Lamar Blvd Ste 202 Austin TX 78703 Advertising Services 3175317 John L Wortham & Son LP 2727 Allen Pkwy Ste 2200 Houston TX 77019 Independent Insurance Broker and Consulting Services 1814991 Bank of America PO Box 405874 Atlanta GA 30384 Financial Services 1672909 Loomis Sayles & CO LP 111 E Kilbourn Ave Ste 2700 Milwaukee WI 53202 Investment Management Services 1462618 47 0 Premiums Earned 524126 1132361006 1132361006 0 0 0 0 0 0 1132361006 171961503 0 0 171961503 0 0 0 0 0 0 0 0 0 0 3990714417 108762 3957478996 34812 33235421 73950 33309371 0 0 33309371 Finance and service charge 524126 728688 728688 0 0 0 0 0 0 728688 1338360568 1133089694 0 205270874 0 0 0 0 12318434 0 63760155 5263861 9691728 5044670 0 1155493 906641 268996 0 14501745 15420833 4003989 4053698 15875878 0 5826452 2223732 0 450306 0 0 5557430 0 Losses incurred 411120155 Policyholder dividend 242851171 Commission 150762576 Taxes, licenses and fees 26868053 51003810 1048929806 0 0 0 12585440 -3939064 109888687 189240167 0 0 392308767 394764132 0 0 0 0 0 0 0 0 0 0 41988231 25847577 16777767 16140654 5039326498 5113208235 392222758 574899221 0 0 0 0 34341144 34172686 5997451061 6318486031 103871177 100254316 0 0 538850779 540319990 0 0 0 0 0 0 0 0 0 0 2793713941 2896057988 3436435897 3536632294 X 0 0 0 0 2561015164 2781853737 2561015164 2781853737 5997451061 6318486031 X 289430762 -66111240 0 0 0 -2480949 X 0 1 X 1 0 0 2827205 2827205 0 28447031 16203696 12243335 0 0 0 0 0 10713995 9643881 1070114 0 0 0 0 16140654 Golub Capital Pearls LP 109867276 F Maranon Senior Credit Fund II - A LP 36864606 F Loomis Sayles Senior Loan Fund 19679372 F Western High Yield 34193383 F Western Bank Loans 17736099 F Western Opportunistic Intl Inv Grade 4383579 F Western Opportunistic Structured Securities 11967160 F Silchester Intl Investors 96268921 F Parametric Defensive Eqty Fund LLC 50008295 F Clarion Lion Properties Fund 82009149 F USAA Eagle Real Estate LP 67831666 F Principal RE Debt Fund LP 17864057 F Heitman RE Debt Partners LP 5881297 F Partners Group RE Sec 2013A 20344361 F 574899221 Losses 2614656336 Loss adjustment expenses 228531393 Payables for securities 36353249 Advanced premiums 11712898 Amounts withheld/retained by Company for acct of others 3689954 Retroactive reinsurance reserve 1114158 2896057988 1338360568 0 0 0 0 0 1338360568 0 0 0 1338360568 1048929806 0 0 0 0 0 1048929806 0 0 0 1048929806 Europe (including Iceland and Greenland) Investments 20344361 0 0 20344361 1 0 0 1 1 0 X X 1 1 0 Richard J Gergasko President & CEO 428826 0 169023 0 64169 0 77557 0 20676 0 760251 0 0 0 Perry Michael Barron SVP & CFO 280193 0 71558 0 73681 0 28385 0 31636 0 485453 0 0 0 William Allen McLellan SVP Information Technology 273050 0 68265 0 68331 0 28385 0 21260 0 459291 0 0 0 Terrence L Buchheit VP Applications 198774 0 42269 0 163029 0 51997 0 22936 0 479005 0 137758 0 Leonard Randall Johnson SVP Investments 294189 0 70161 0 37421 0 63097 0 29461 0 494329 0 21872 0 Mary B Nichols General Counsel & SVP 263063 0 66312 0 70724 0 28385 0 12427 0 440911 0 0 0 Steven E Math SVP Underwriting 263167 0 66360 0 48471 0 54715 0 6584 0 439297 0 20979 0 Terry L Frakes SVP Public Affairs 227933 0 59120 0 70748 0 28385 0 9312 0 395498 0 0 0 Benjamin Joel Turner SVP & Chief Actuary 246148 0 62557 0 48664 0 53288 0 29784 0 440441 0 20557 0 Brenda J Ward SVP Policyholder Services 234755 0 57400 0 50956 0 56948 0 9312 0 409371 0 20645 0 Joseph Albert Yurkovich SVP Strategic Planning & Marketing 239584 0 59779 0 42517 0 28385 0 20466 0 390731 0 0 0 Lynette T Caldwell SVP Human Resources 199236 0 46120 0 47368 0 49598 0 21533 0 363855 0 22370 0 Bill W Huckaby VP General Auditor 163308 0 32876 0 88932 0 40103 0 22936 0 348155 0 71759 0 David W John VP IT Infrastructure 190323 0 40590 0 40397 0 49432 0 32284 0 353026 0 20421 0 Kim Haugaard VP Network & Medical Ops 183518 0 38478 0 45725 0 47687 0 18640 0 334048 0 21083 0 Nicholas Francis Tsourmas VP & Medical Director 178343 0 37218 0 36970 0 23975 0 20436 0 296942 0 0 0 Ernest W Stokey VP Premium Audit 157507 0 34886 0 52827 0 21818 0 9536 0 276574 0 0 0 James R Kohloff VP Regional Operations 187384 0 38652 0 14833 0 38271 0 31536 0 310676 0 0 0 Jo Betsy Norton VP Public Affairs 168025 0 35075 0 32018 0 38326 0 19240 0 292684 0 14066 0 Jeffrey Paul Lentz VP Underwriting 170160 0 36186 0 26459 0 43963 0 32471 0 309239 0 7914 0 Phoebe Alexis Samuels Tinney VP & Associate Actuary 168362 0 36363 0 26466 0 39903 0 20740 0 291834 0 5778 0 Timothy Patrick Riley VP Special Investigations 151211 0 31842 0 42055 0 38383 0 5632 0 269123 0 17580 0 Barbara Joann Drollinger VP Regional Operations 166706 0 33083 0 21781 0 32791 0 0 0 254361 0 0 0 Woody Lee Hill VP Safety & Information Services 168607 0 34737 0 17152 0 32201 0 31136 0 283833 0 0 0 Curtis Wall Johnson VP Claim Operations 159399 0 0 0 58566 0 17551 0 30436 0 265952 0 0 0 Billy A Jackson VP Regional Operations 167042 0 33083 0 17156 0 32830 0 22236 0 272347 0 0 0 Martin J Leifker VP Product Development 158870 0 24001 0 23463 0 26856 0 31036 0 264226 0 7519 0 Stacie Scarborough Feller VP Underwriting 162213 0 33083 0 10805 0 30621 0 31636 0 268358 0 0 0 Erica Mae Sanchez VP Financial Services 148077 0 26880 0 23920 0 24962 0 18640 0 242479 0 4751 0 Mitchell D Walsh Former VP Insurance Services 29615 0 0 0 169099 0 31785 0 5216 0 235715 0 0 0 Shannon Simmons Pounds VP & Senior Counsel 151039 0 31842 0 15819 0 19734 0 19640 0 238074 0 0 0 Kenneth W Lauber Former VP Business Development 93583 0 39478 0 65481 0 19712 0 12390 0 230644 0 0 0 Jody Ann Heins Former VP Financial Services 108802 0 39287 0 46429 0 41406 0 5284 0 241208 0 0 0 Edward M Coates VP Employee Services 141721 0 22735 0 23040 0 26228 0 31636 0 245360 0 9728 0 Carolyn C Howell Sr Mgr Customer Engagement 125257 0 20942 0 48645 0 22961 0 23421 0 241226 0 44247 0 Diane Marie Starkey Sr Mgr IT 144710 0 24732 0 19248 0 26753 0 17969 0 233412 0 9720 0 Jim E Ziolkowski Sr Mgr Underwriting 140724 0 0 0 47860 0 15621 0 21636 0 225841 0 0 0 Margaret Ann Wilson Sr Mgr IT 143922 0 23843 0 17735 0 24533 0 10883 0 220916 0 8913 0 Jeannette A Sprague Sr Mgr IT 142646 0 23937 0 15186 0 17932 0 32471 0 232172 0 0 0 Schedule J, Part I, Line 4 Schedule J, Part I, Line 4a: Mitchell D Walsh $117,537--------Schedule J, Part I, Line 4b: Richard J Gergasko $49,172; Perry Michael Barron $37,959; William Allen McLellan $36,212; Terrance L Buchheit $163,724; Leonard Randall Johnson $56,584; Mary B Nichols $35,289; Steven E Math $47,309; Terry L Frakes $31,361; Benjamin Joel Turner $45,460; Brenda J Ward $49,208; Joseph Albert Yurkovich $19,026; Lynette T Caldwell $44,507; Bill W Huckaby $92,489; David W John $43,864; Kim Haugaard $43,144; Nicholas Francis Tsourmas $13,860; Ernest W Stokey $21,417; James R Kohloff $13,317; Jo Betsy Norton $30,268; Jeffrey Paul Lentz $28,649; Phoebe Alexis Samuel Tinney $22,586; Timothy Patrick Riley $35,806; Barbara Joann Drollinger $11,077; Woody Lee Hill $9,858; Billy A Jackson $11,077; Martin J Leifker $14,220; Stacie Scarborough Feller $9,678; Erica Mae Sanchez $10,547; Mitchell D Walsh $22,854; Jody Ann Heins $22,601; Edward M Coates $17,973; Carolyn C Howell $52,033; Diane Marie Starkey $18,364; Jim E Ziolowski $4,489; Margaret Ann Wilson $15,569; Jeannette A Sprague $7,226 Form 990, Part VI, Section A, Line 7a The company was established by Texas statute. The company has 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 policy holders. Form 990, Part VI, Section A, Line 7b Legislation prohibits the appointment or election of any person who has the 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 work papers and verification to the Company's Annual Statement and Audited Statutory Annual Report. The return is reviewed by management prior to filling 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 An annual compensation review is performed by the Company's Human Resources Department for all benchmark positions, including executive positions. The Board of Directors reviews and approves the compensation package for the President and General Auditor. The President or his designee approves the pay for all other employees. Form 990, Part VI, Section C, Line 19 All external requests for organizational 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 ($1,934,709); change in provision for reinsurance ($1,485); post retirement medical plan ($544,755) 2015 tax return requires information from Form 990-T. The due date for Form 990-T is November 15, 2016. Form 990 extensions were filed and approved.