|
|
Knights
of Columbus
Insurance Agent for Council 6138
Contact
Jeff Hunt for all your life, retirement, and long
term care insurance needs. Great rates, great benefits, from a great company.
Standard & Poor’s Renews Knights of Columbus AAA Rating
August 2, 2007
|
K of C capital adequacy ratio is “highest in the industry”
For the 15th consecutive year, the Knights of Columbus has earned the
highest rating: AAA (Extremely Strong) from Standard &
Poor’s. With more than 140 years experience, Standard &
Poor’s is the financial industry’s foremost independent
rating bureau, providing investment, credit and risk analyses of
financial institutions around the world.
“K of C is achieving its primary objective of providing members
and their families with high-quality, low-cost insurance
products,” the S&P report said. The rating agency declared
that “KC’s capitalization is extremely strong,” that
“operating performance is strong,” and that the
Order’s “liquidity is viewed as very strong.”
“K of C has historically maintained extremely strong
capitalization. At year-end 2006, the capital-adequacy ratio was 1084%,
which is the highest in the industry,” the report continued.
“Its unique relationship with its members fosters a strong
affinity, which translates into one of the industry’s lowest
lapse rates.” S&P added that “KofC is extremely
cost-conscious,” and maintains “a high dividend payout
ratio of 75%-85%.”
“The company returned 84% of its earnings to its members in
2006,” the report added. “Its consistently strong
profitability is attributable to high persistency rates, favorable
mortality experience, and strong investment returns over the past 10
years.”
Supreme Knight Carl A. Anderson said that “the new Standard &
Poor’s report confirms that we continue to succeed in our goal of
offering a well-managed, financially rock-solid insurance program for
our members. As we celebrate 125 years of faith in action, we can take
real pride in the way in which we have accomplished that goal.”
The Knights of Columbus also recently received an A++ (Superior) rating
for the 32nd consecutive year from the A.M. Best Company, which
specializes in the evaluations of insurance organizations. The K of C
is one of only five insurance providers in North America to receive the
highest ratings from both Standard & Poor’s and A.M. Best, as
well as certification from the Insurance Marketplace Standards
Association (IMSA) for ethical business practices.
Founded 125 years ago, the Knights of Columbus is a fraternal benefit
society and is the world’s largest lay Catholic organization with
more than 1.7 million members. Last year members of the Knights of
Columbus donated more than 68 million hours of volunteer service for
charitable causes, and contributed more than $143 million to charity.
A.M. Best Affirms Rating of A++ (Superior)
June 13, 2007
|
For
the 32nd consecutive year, A.M. Best Company has assigned the Knights
of Columbus its highest financial strength rating, A++ (Superior). A.M.
Best is a worldwide rating and information agency, which conducts
in-depth analyses and issues reports about the fiscal stability of
insurance companies.
In its 2007 affirmation, A.M. Best cited the Knights of Columbus’
“strong fraternal and insurance presence within the Catholic
communities in the United States and Canada, its strong risk-adjusted
capitalization as measured by Best’s Capital Adequacy Ratio and
its consistently positive statutory operating results.”
The report also pointed to the K of C’s “evolving fraternal
programs in other countries such as Mexico, Poland the Pacific Rim
territories and the Philippines, which could add to new membership
growth going forward.”
Supreme Knight Carl A. Anderson welcomed the A.M. Best report and,
reflecting on the Knights of Columbus’ 125th anniversary
(1882-2007), said that A++ rating “is a result of continued and
fervent adherence to our original mission of providing Catholic
families with security and stability through top quality life insurance
products.” During the past decade, the amount K of C insurance in
force has doubled to nearly $64 billion.
The Knights of Columbus is an international fraternal benefit society
and the world’s largest lay Catholic organization with more than
1.7 million members. Last year members of the Knights of Columbus
donated more than 68 million hours of volunteer service for charitable
causes, and contributed more than $143 million to charity.
|
|
|
