WoodmenLife’s Financial Strength Outlook Remains Strong in 2020
WoodmenLife’s A+ (Superior) financial strength rating was once again reaffirmed by A.M. Best, an independent financial rating agency. This rating 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 its fiscal year with tremendous financial stability and more than enough resources to meet its financial obligations to its members. Notable achievements for year-end 2019 included:
- Assets grew 1.4% to $11.1 billion
- Face amount of life insurance issued was nearly $3 billion
- Surplus increased 9% to $1.56 billion
These positive results and a conservative investment philosophy – with more than two-thirds of invested assets in bonds – ensure WoodmenLife remains in superior financial condition and meets its ongoing insurance and contract obligations to policyholders.
“This reaffirmation is especially significant in the current national situation,” said President & CEO Patrick L. Dees. “Our members can rest assured we are here for them, and they will continue to receive the superior coverage and service they have come to expect from us.”
To find out more about WoodmenLife’s financials and to view the organization’s annual reports, visit WoodmenLife.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.
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. To learn more about the organization and the extras members have access to, visit WoodmenLife.org.
Woodmen of the World Life Insurance Society Home Office: Omaha, NE