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Dec. 12, 2013
Ratings Agency Tabs CMFG Life Insurance Co. and its Subsidiaries with Excellent Ratings, Stable Outlooks
MADISON, Wis. – A.M. Best Company has affirmed the financial strength rating of CMFG Life Insurance Company (CMFG Life) and MEMBERS Life Insurance Company 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 more than adequate risk-adjusted capitalization, consistently strong operating results, its position as the leading provider of life and health insurance products to members and employees of credit unions and its strategy to grow ancillary business lines that provide product and revenue diversification outside the credit union marketplace.
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.”
Regarding CUNA Mutual Group’s property/casualty subsidiaries, A.M. Best recognized their favorable 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.
According to A.M. Best, “CMFG Life and its entities are well positioned at their current rating levels.”
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.
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.
© CUNA Mutual Group, 2013, All Rights Reserved