Financial Strength

At WoodmenLife, we understand what is truly important – keeping your interests in mind as we make decisions that impact the future and overall financial strength of our company.

In 2019, WoodmenLife demonstrated outstanding financial performance once again, with a total income of $1.2 billion and certificate reserves (funds held to guarantee future benefit payments) of nearly $8.5 billion.

Strength in Numbers

WoodmenLife finished Fiscal Year 2019 with positive results, including assets of $11.1 billion1 and $38.5 billion of insurance in force.

Light blue bar chart showing WoodmenLife’s assets, in billions of dollars, over the last 10 years.
Red bar chart showing WoodmenLife’s life insurance in force, in billions of dollars, over the last 10 years.

In addition, total surplus for WoodmenLife has consistently grown over the past eight years, reaching a record high of $1.56 billion in 2019.

Navy blue bar chart showing WoodmenLife’s surplus, in billions of dollars, over the last 10 years.
 

Financial Rating

AM Best Logo One way to judge the strength of a company is to look at how its financial strength and performance are rated by an objective rating agency. Our rating is a direct reflection of the care with which WoodmenLife manages our business.

WoodmenLife was assigned a rating of A+ (Superior) with a stable outlook for its financial strength and operating performance in 2019 by A.M. Best. This is the second-highest rating out of 15 awarded.

Doing What’s Right

In an industry based on long-term success, you want to trust your time and money with a company you know will perform. An organization’s investment philosophy directly affects its security and is a vital factor in its growth and stability. We don’t chase profits to please stockholders; we pursue the best interests of our members. WoodmenLife is an organization that has lasted more than a century by looking ahead and doing what’s right.

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A Solid Investment

Another sign of WoodmenLife’s strength is that our investment income has held steady in recent years, despite declining interest rates.

Bonds

One of today’s safest investments is bonds, and because of their stability, you’ll find over two-thirds of our invested assets there. A large portion of our bond portfolio contains investment grade corporate bonds.

Bonds commonly referred to as “investment grade” are those included in the top four rating categories – Aaa, Aa, A and Baa. Bond ratings are like grades on a report card, with Aaa carrying the smallest degree of investment risk, and C being the highest. At year-end 2019, 99 percent of WoodmenLife’s bond holdings were investment grade.

Real Estate & Mortgage Loans

Real estate accounted for just under one percent of WoodmenLife’s invested assets in 2019. These holdings consist of property that is owned by and either leased to others or occupied by WoodmenLife.

At the end of 2019, about 18.5 percent of our assets were in mortgage loans. These loans are secured by commercial real estate including office, retail and industrial properties. WoodmenLife is always a first-lien mortgage holder, and we finance no more than 75 percent of a property’s value.

2019 Refunds

  • Refunds2 paid to members holding life and accident and health certificates during 2019 were $35.2 million.

Disclosures

  1. Total assets of more than $11.1 billion. Liabilities of $9.54 billion; as of Dec. 31, 2019
  2. Refunds are declared annually by the company. The payment of refunds is not guaranteed because they depend on the company's investment, expense and mortality experience.

WEB3 - 6/29/2020