MADISON, Wis. – A.M. Best Company has affirmed the financial strength ratings of A (Excellent) and the issuer credit ratings of “a” of CMFG Life Insurance Company (CMFG Life), MEMBERS Life Insurance Company, CUMIS Insurance Society, Inc. and CUMIS Specialty Insurance Company, Inc. A.M. Best has also affirmed the issuer credit rating of “bbb” of CUNA Mutual Financial Group, Inc., the intermediate holding company within the group. The outlook for all ratings is stable.
In affirming CMFG Life’s A rating, A.M. Best cited the company’s position as the leading provider of insurance and financial services products in the credit union marketplace. Also noted was steadily increasing capitalization, benefiting from favorable consolidated earnings and management initiatives to reduce earnings volatility, improve capital efficiency and better align the management of business segments.
Regarding CUNA Mutual Group’s property/casualty subsidiaries, A.M. Best cited a favorable level of risk-adjusted capitalization, overall operating profitability and leadership position within the credit union segment.
“Our customers can be confident CUNA Mutual Group is financially strong and ready to help them build a better financial future,” said Robert N. Trunzo, president and CEO. “The affirmation of our financial ratings is important to us as we invest in new products and services to serve our customers for generations to come.”
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.
About CUNA Mutual Group:
CUNA Mutual Group helps people plan, protect and invest for their future – regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance and investment partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found 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.
© 2016 CUNA Mutual Group, All Rights Reserved