Woodmen of the World Receives A+ Rating from A.M. Best
February 1, 2011
Omaha, Neb.– A.M. Best, a financial rating company, has once again affirmed Woodmen of the World's financial strength rating as A+ (Superior).
A+ (Superior) is the second highest of A.M. Best's 15 possible ratings. The rating of Woodmen of the World Life Insurance Society and/or Omaha Woodmen Life Insurance Society (Woodmen of the World) reflects a favorable surplus position and consistently positive operating performance. It also notes focus on and recent success around growing life insurance premiums, managing a profitable annuity line and simultaneously providing fraternal outreach to members.
The rationale cites the financial challenges presented recently to Woodmen of the World and speaks highly to management of assets and liabilities during recent years. Last, it notes success in increasing the size of the field force and initiatives to boost new premium sales and reduce membership losses. Woodmen of the World President and CEO Danny Cummins said, “We’re very pleased to once again receive an A+ rating from A.M. Best. It is a direct reflection of our conservative investment philosophy, and we’re proud to be able to assure our members with certainty that we are in great shape.”
A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. Policyholders and depositors refer to Best's ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles. To learn more about A.M. Best, visit ambest.com.
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.