WoodmenLife Finishes 2017 in Superior Financial Position
WoodmenLife has again finished their fiscal year posting record highs in assets and surplus, those resources needed for strong financial stability and to meet their obligations to customers.
- WoodmenLife’s total assets grew from $10.85 billion in 2016 to $10.98 billion at the end of 2017.
- The face amount of insurance in force grew to more than $38.5 billion in 2017, also an all-time high.
- Surplus is at a record high, growing more than 9.5 percent from 2016 to 2017 to $1.39 billion.
- WoodmenLife follows a conservative investment strategy, investing more than two-thirds of their invested assets in bonds.
The positive trends in financial growth and stability, along with the organization’s conservative investment philosophy, ensures it remains in superior financial condition and has the ability to meet its ongoing insurance and contract obligations to policyholders.
This was reiterated by A.M. Best, an independent financial rating agency, when it announced that it has affirmed WoodmenLife’s A+ (Superior) financial strength rating and stable outlook for 2018. This rating is based on a comprehensive and qualitative evaluation of WoodmenLife’s balance sheet strength, operating performance, and business profile.
“WoodmenLife continues to be well-positioned for long-term financial strength and stability,” said President and CEO Patrick L. Dees. “We are committed to serving the best interests of our members through sound financial decisions, and we are proud to have retained our superior financial strength rating.”
To find out more about WoodmenLife’s financials, visit woodmen.org/about/financial-strength.cfm.
About A.M. Best Company
A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. Policyholders and depositors refer to Best’s ratings and analyses as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles. To learn more about A.M. Best, visit ambest.com.