Woodmen of the World Releases 2013 Annual Report
February 21, 2014
Omaha, Neb. — Woodmen of the World Life Insurance Society and/or Omaha Woodmen Life Insurance Society's 2013 financial performance included gross revenue of $1.2 billion and a net gain before member refunds of $100 million, according to an annual report released February 21 by the fraternal benefit organization. According to the report, Woodmen of the World remains strong with $112 of assets for every $100 of liabilities.
"Our purpose is to benefit members through every stage of life. We promise to help them protect their loved ones, save for the future and achieve their goals of financial security," said Larry King, President and CEO of Woodmen of the World. "Every year we find more ways to deliver on that promise and build strong, lasting relationships with the people we serve. In 2013, we were pleased to see 5.8 percent growth in assets to more than $10 billion. That’s the great thing about our organization – when we grow stronger, our members grow more confident and the better we do financially."
Investment income was $417 million, and life insurance in force was more than $36.7 billion. Woodmen of the World's premium income from life insurance, annuity, and accident and health products in 2013 reached over $726 million. The company provided $553 million in benefit payments to members and their beneficiaries and returned more than $66 million in member refunds.
To view the 2013 Annual Report, visit http://www.woodmen.org/about/financialrating.cfm.
Woodmen of the World was founded in 1890 as a not-for-profit. We give back to our member-customers and the communities we live in. Today, Woodmen of the World offers insurance, annuities, mutual funds,* and 529 College Savings Plans.* More than 700,000 Woodmen of the World member-customers across the country share a commitment to family, community and country. To learn more about Woodmen of the World, visit woodmen.org.