WoodmenLife’s Financial Strength is Affirmed by A.M. Best
A.M. Best has affirmed WoodmenLife’s financial strength rating: A+ (Superior) with a stable outlook. This evaluation by the independent financial rating agency is based on a comprehensive and qualitative evaluation of WoodmenLife’s balance sheet strength, operating performance, business profile, and enterprise risk management capabilities.
WoodmenLife finished a globally challenging year with tremendous financial strength. Notable achievements for 2020 included:
- Assets grew 1.14% to $11.23 billion
- Face amount of life insurance in force increased to $38.8 billion
- Surplus increased 3.1% to $1.61 billion
These results — as well as innovation to serve members better, extensive risk management preparation and a conservative investment philosophy — have allowed WoodmenLife to maintain its superior financial condition.
“This affirmation shows how financially sound WoodmenLife is and our commitment to meeting our obligations to our members,” said President & CEO Patrick L. Dees. “Our members can rest assured we are here for them, even through times of uncertainty.”
To find out more about WoodmenLife’s financials and to view the organization’s annual report, visit WoodmenLife.org/financial-strength.
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.
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 have access to many extras they can use now. To learn more about the organization, visit newsroom.WoodmenLife.org.