Woodmen of the World Releases 2010 Annual Report
April 13, 2011
Omaha, Neb.— Woodmen of the World’s 2010 financial performance included gross revenue of $1.2 billion and a net gain before member dividends of $138 million, according to an annual report released April 15 by the fraternal benefit organization. Even with the current economic and financial climate Woodmen of the World remains strong with $112 of assets for every $100 of liabilities.
"Woodmen of the World's conservative investment philosophy continues to serve us well, as assets now total nearly $8.6 billion. We never invest in junk bonds, and because of the quality of our portfolio and the trust of our valued members, we were pleased to see 6.14 percent growth in our assets in 2010," said Danny Cummins, President and CEO of Woodmen of the World.
Investment income reached $411 million, and life insurance in force stands at $35.4 billion. Woodmen of the World’s premium income from life insurance and annuity products in 2010 reached nearly $748 million. The company provided $487 million in benefit payments to members and their beneficiaries and returned more than $107 million in member dividends.
Woodmen of the World was founded in 1890 as a fraternal benefit organization. Today, Woodmen of the World offers insurance, annuities, mutual funds*, and 529 College Savings Plans*. Nearly 725,000 Woodmen of the World members across the country share a commitment to family, community and country. To learn more about Woodmen of the World, visit woodmen.org.