CMFG Life Insurance Company Financial Strength Affirmed
Posted: 2012-02-14 00:00:00
For more information:
Jim Buchheim 608.232.6327 jim.buchheim@cunamutual.com
Rick Uhlmann 608.231.8940 rick.uhlmann@cunamutual.com
A.M. Best Cites Company’s Solid Capital, Financial Performance in Listing Outlook at Stable
MADISON, Wis. -- Financial ratings agency A.M. Best has affirmed CMFG Life Insurance Company’s financial strength rating at “A” (Excellent) and continues to list the company’s outlook as stable.
The “A” rating applies to CMFG Life Insurance Company, formerly called CUNA Mutual Insurance Society, before the company restructured to a Mutual Holding Company on Jan. 31. The “A” rating is the third highest rating of 16 categories of ratings A.M. Best issues.
A.M. Best also affirmed the debt rating of “bbb+” on the $85 million, 8.5 percent, 20-year surplus notes issued by CMFG Life and the rating of B++ of MEMBERS Life Insurance Company, a subsidiary of CMFG Life.
“During these difficult economic times, CUNA Mutual Group has worked hard to keep premiums down, deliver greater value to credit unions and their members through our products and services, and still grow our company's financial strength,” said Jeff Post, President and CEO for CUNA Mutual Group. “We’re pleased A.M. Best acknowledges our strong performance in affirming our rating.”
In its affirmation of the company’s financial strength, A.M. Best said: “The ratings of CMFG Life acknowledge its continued position as the leading provider of life/health insurance products to members and employees of credit unions, its more than adequate risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio, consistently positive net operating gains and improved balance sheet on a consolidated basis. CMFG Life continues to maintain a well diversified investment portfolio and has taken initiatives to improve the overall quality of its balance sheet, such as decreasing its equity portion of the investment portfolio over the past two years to reduce market volatility.”
Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors.
CUNA Mutual Group insurance, retirement and investment products provide financial security and protection to credit unions and their members worldwide. With more than 75 years of true market commitment, CUNA Mutual Group’s vision is unwavering: To be a trusted business partner who delivers service excellence through customer-focused products and market-driven insight. More information on the company is available on the company’s website at www.cunamutual.com.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Life, accident, health and annuity insurance products are issued by CMFG Life Insurance Company. Property and casualty insurance products are issued by CUMIS Insurance Society, Inc. Each insurer is solely responsible for the financial obligations under the policies and contracts it issues. Corporate headquarters are located in Madison, Wis.
Comments (24)
Posted:
2012-05-16 13:53:09
By:
Beverly J. Fiedler
Today, CMFG took $179.00 out of my check account and I do not know who authorize this payment or what on earth it is for. I have received no insurance policy and was told when I turned 75 the term insurance I had with Credit Union was no longer viable. Please check into this for me. I cannot afford to have someone helping themselves to the small amount of money in the account. I live on a pension and SS. Will be awaiting your response. Thank you.
B. Fiedler
Posted:
2012-05-12 14:57:41
By:
Robert Bouchard
Please stop any and all charges to my bank account for insurance and supply me any reasons for the billings in the first place. Stop or I will contact FTC!
Posted:
2012-05-10 08:22:19
By:
Mellnee Edwards (mason)
I wish to speak with someone about my policy with your company. My phone number is 205-663-6419; If no answer,call 205-565-1641 and leave a message that you are returning my call and i will get back in touch with you asap. Thanks, Mellnee
Posted:
2012-05-04 10:04:41
By:
Carol Hauge
Money withdrawn from my account on 050312? I do not have any paperwork authorizing payment?
Please contact me at 319-521-8260. I have sent email to my credit union inquiring on this transaction.
Thank you
Posted:
2012-05-01 03:13:53
By:
WILLIAM L POWERS
I would to know what the heck i am paying for CMFG is charging me $121.99 and i do not see any thing i also thank i am paying $83.50 for another policy with UNITED/DRS (INS PREM) seams like you 2 are them same i do not know what is going on and need an ans. if you can help thank you bill p
Posted:
2012-04-29 18:36:19
By:
Barbara Spraggins
Please contact me immediately about my policy that I pay via automatic debit. I have not received any annual communications from CMFG and find that to be a poor practice. Please contact me via email and I will provide my policy number at that time.
Posted:
2012-04-23 17:12:24
By:
Deborah Cooper
I need to speak with someone there concerning this policy that I have with you. Please contact me.
Posted:
2012-04-23 13:11:56
By:
Hardy L. Merritt
Please send a copy of my policy.
Posted:
2012-04-19 11:10:02
By:
Betty Thompson
I need a copy of my policy for verification to receive Medical. They want it asap and I can't find my copy. I need help today!!!
Posted:
2012-04-18 19:43:52
By:
Rebecca Fullen
Why did youdebit my account. I did not sign up for any life insurance.
Posted:
2012-04-17 19:01:10
By:
scott sigafus
i would like to cancel my coverage, please stop all transactions first community credit union monroe wisconsin, thank you
Posted:
2012-04-16 17:21:13
By:
Nancy Young
I would like a copy of my policy and would like the information on how to possibly change benefactors. (Evergreen Credit Union)
Posted:
2012-04-12 11:25:30
By:
Hany Kamel
I would like some information relating to my policy, also copy of my records.
Posted:
2012-04-11 08:41:10
By:
larry isbell
Would you please send me information on how I can contact you in regard to a policy. Thanks
Posted:
2012-04-09 20:10:04
By:
john l. jackson jr.
put you as my favorite. also some information relating to my policy?
Posted:
2012-04-09 09:21:55
By:
Thomas Geer
I do not recall signing up for this insurance. Please send information and coverage policy as soon as possible.
Posted:
2012-04-07 21:05:46
By:
Richard Milligan
I would like a copy of my ADD policy for my records. I vaugley remember signing up for this but not for this amount! Need to know poicy and coverages.
Thanks
Posted:
2012-04-06 10:18:17
By:
Martha Lyon
I did not sign up for this insurance. Please credit my account.
Posted:
2012-04-05 18:36:53
By:
Miguel N. Barahona
You took money from my account and I would like to know why, I did not sign up for this insurance. You will hear from my lawyer by monday....
Posted:
2012-04-02 15:35:29
By:
TIM ROMAN
CAN A NON- CREDIT UNION MEMBER HAVE LIFE INSURANCE THROUGH YOU IF THE BENEFICIARY IS A CREDIT UNION MEMBER? (GOLD COAST FEDERAL CREDIT UNION)
Posted:
2012-04-01 11:04:42
By:
Carlos Garza
What is the number I can call regarding my existing policy. I signed up through my credit uniion ( Security 1st Credit Union) in Brownsville, Texas 78521
Posted:
2012-03-28 16:40:59
By:
Donald
What is the number I can call regarding my existing policy. I signed up through my credit union (Financial Federal Credit Union), Miami, Florida located on Flagler Street.
Thanks for your response
Posted:
2012-03-27 16:40:00
By:
Antoinette Calhoun-Waltes
Please stop trying to take money out of my account. I am not interested int this insurance. Lake Trust Credit union
Posted:
2012-03-15 00:08:17
By:
Barbara Jones
You took money from my account and I would like to know why, I don't recall signing up for this insurance
B. Fiedler
Please contact me at 319-521-8260. I have sent email to my credit union inquiring on this transaction.
Thank you
Thanks
Thanks for your response