WoodmenLife Maintains Superior Financial Strength in 2022
Omaha-based life insurance provider, WoodmenLife, has released its annual report, highlighting its notable achievements in 2022. The company finished the year with positive results. These achievements were recognized by independent financial rating agency, AM Best, which reaffirmed WoodmenLife’s Financial Strength rating of A+ (Superior) and a Long-Term Issuer Credit Rating of aa- (Superior). The outlook assigned to these ratings is stable. The company has maintained its Financial Strength rating of A+ for 47 years.
WoodmenLife’s commitment to serving its members, innovation, risk management, and conservative investment philosophy allowed it to maintain its strong financial condition while focusing on improving the communities where its members live through community improvement projects, providing scholarships to recent high school graduates and helping its members pay back student loans.
The company’s President & CEO, Patrick L. Dees, said that this affirmation shows the company’s financial soundness and commitment to meeting its obligation to its members to ensure their financial futures.
Notable financial achievements for year-end 2022 included:
- Assets remained stable at $11.1 billion1
- Face amount of life insurance in force grew to $39.3 billion
- Surplus, assets above and beyond the company’s obligations, remained stable at $1.7 billion
With its continued financial strength, WoodmenLife has remained a trustworthy provider of life insurance products and exclusive extras for its members for more than 135 years. For more about the company’s financial stability, visit woodmenlife.org/about/financial-strength/
About WoodmenLife
WoodmenLife was founded in 1890 as a not-for-profit. The organization gives back to its members across the country, who join together in a shared commitment to family, community and country. With a legacy of financial stability, WoodmenLife offers quality life insurance and retirement products. A person becomes a member when they purchase a WoodmenLife product. Members may have access to many extras they can use now. To learn more about the organization, visit newsroom.WoodmenLife.org.