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 2018, WoodmenLife's outstanding financial performance once again included a total income of $1 billion and certificate reserves (funds held to guarantee future benefit payments) of nearly $8.5 billion.
Strength in Numbers
WoodmenLife finished Fiscal Year 2018 with positive results including Assets of $10.95 billion1; and the steady growth of Insurance in force.
In addition, WoodmenLife's total surplus has consistently grown over the past seven years, reaching a record high of $1.43 billion in 2018.
Financial Rating
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 2018 by A.M. Best. This is the second-highest rating out of 15 awarded.
Investing in Trust
In an industry based on long-term success, you want to invest your time and money with a company you can trust to perform. A company's investment philosophy directly affects its security, and is a vital factor in its growth and stability.
WoodmenLife does not seek profit to please stockholders; we pursue the best interests of our members. WoodmenLife has lasted more than a century by taking the long view and doing what’s right.
- Bonds: One of today's safest investments is bonds, and because of their stability, you'll find more than 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 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. Currently, 98 percent of WoodmenLife's bond holdings are investment-grade bonds. - Real Estate & Mortgage Loans: Real estate accounted for just under one percent of WoodmenLife's invested assets in 2018. These holdings consist of property that is either leased or owned and occupied by WoodmenLife.
At the end of 2018, about 18.6 percent of our total invested assets were in mortgage loans. WoodmenLife is always a first-lien mortgage holder, and we finance no more than 75 percent of a property’s value.
2018 Refunds
- Refunds2 paid to members holding life and accident and health certificates during 2018 were $38.5 million.
Disclosures
- We have total assets of more than $10.95 billion. Liabilities of $9.52 billion; as of 2018
- 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 - 2/20/2019
