CUNA Mutual Group Financial Strength Affirmed By A.M. Best
Ratings Agency Cites Company’s Capitalization, Diversification in Issuing Stable Outlooks
MADISON, Wis. – A.M. Best Company has affirmed the financial strength rating of CMFG Life Insurance Company (CMFG Life) at “A” (Excellent). A.M. Best also affirmed the “A” (Excellent) rating for CMFG Life’s property/casualty subsidiaries: CUMIS Insurance Society, Inc., CUMIS Specialty Insurance Company, Inc., Producers Agriculture Insurance Company and Producers Lloyds Insurance Company. The outlook for all ratings is stable.
In affirming CMFG Life’s “A” rating, A.M. Best cited the company’s continued position as the leading provider of life/health insurance products to members and employees of credit unions. A.M. Best also referenced the company’s “more than adequate risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio (BCAR), consistently positive net operating gains and its strategic initiatives to grow ancillary lines of business to improve product and revenue diversification outside its niche.”
Also cited was CMFG Life’s “supportive level of risk-adjusted capitalization, conservative balance sheet, overall operating profitability and well-established niche position in the credit union and multi-peril crop insurance segments.”
A.M. Best also upgraded a CMFG Life subsidiary, MEMBERS Life Insurance Company to “A” (Excellent) from B++ (Good) and affirmed its stable outlook.
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. More information on A.M. Best can be found at www.ambest.com
To learn more, follow @CUNAMutualGroup on Twitter, circle +CUNA Mutual Group on Google+, or visit http://www.cunamutual.com.
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.