Press
CUNA Mutual Group Financial Strength Affirmed, Outlook Elevated
NEWS RELEASE:
From CUNA Mutual Group Public Relations
www.cunamutual.com
For more information:
Jim Buchheim 608.232.6327 jim.buchheim@cunamutual.com
Rick Uhlmann 608.231.8940 rick.uhlmann@cunamutual.com
MADISON, Wis. — Financial ratings agency A.M. Best has affirmed CUNA Mutual Group’s financial strength rating at “A” (Excellent) and has returned the company’s outlook to stable.
The “A” rating applies to the principal companies of CUNA Mutual Group — CUNA Mutual Insurance Society, a life and health insurer, and CUMIS Insurance Society, Inc., a property and casualty subsidiary. The “A” rating is the third highest rating of 16 categories of ratings A.M. Best issues.
“During these difficult economic times, CUNA Mutual 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. “We’re pleased A.M. Best acknowledges our strong performance in affirming our rating and upgrading our outlook to stable.”
A.M. Best’s rating and improved outlook speaks to CUNA Mutual’s solid capitalization and consistently positive operating gains. In affirming CUNA Mutual’s “A” rating and moving its outlook to stable, A.M. Best cited CUNA Mutual’s improvement in the overall quality of its balance sheet.
A.M. Best also affirmed the “A-‘’ (Excellent) financial strength ratings of Producers Agriculture Insurance Company and Producers Lloyds Insurance Company (ProAg) with a stable outlook. A.M. Best noted ProAg’s historical operating profitability and strong agency relations in affirming these ratings.
The financial strength rating of MEMBERS Life, a dormant downstream life company that is not core to CUNA Mutual’s operations, was affirmed at B++ (Good) with a 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.
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’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 Web site at www.cunamutual.com.
CUNA Mutual Group is the marketing name of CUNA Mutual Insurance Society, its affiliates and subsidiaries, including CUMIS Insurance Society, Inc. Product availability and features may vary by jurisdiction and are subject to actual policy language. Corporate headquarters are located in Madison, Wisconsin.