
WoodmenLife Annual Report
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.
Strength In Numbers
Recent Results
In 2022, WoodmenLife demonstrated outstanding financial performance, with a total income of more than $994 million and certificate reserves (funds held to guarantee future benefit payments) of $8.1 billion.
WoodmenLife finished Fiscal Year 2022 with positive results, including assets of $11.1 billion1 and $39.3 billion of insurance in force.
In addition, total surplus for WoodmenLife remained stable, standing at $1.7 billion in 2022.

DOLLARS IN ASSETS (BILLIONS) LIABILITIES $9.4 BILLION; AS OF DEC. 31, 2022
Assets
10-year history
$11.1 billion in assets for 2022

DOLLARS OF FACE AMOUNT IN FORCE (BILLIONS)
Insurance In Force
10-year history
$39.3 billion of insurance in force for 2022

(BILLIONS)
Surplus
10-year history
$1.7 billion in surplus in 2022
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 once again in 2022. It was the 47th consecutive year we received the A+ Superior rating, which is the second highest out of 15 awarded.
Doing What’s Right

Denise M. McCauley
Chair, President & CEO
WoodmenLife
Omaha, NE
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.
A Solid Investment
Another sign of WoodmenLife’s strength is that our investment income has remained steady.
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 2022, 99% of WoodmenLife’s bond holdings were investment grade.
Real Estate & Mortgage Loans
Real estate accounted for just under 1% of WoodmenLife’s invested assets in 2022. These holdings consist of property that is owned by, and either leased to others or occupied by, WoodmenLife.
At the end of 2022, 20.8% 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% of a property’s value.
2022 Refunds
Refunds2 paid to members holding life and accident and health certificates during 2022 were $24.1 million.
Disclosures
Total assets of $11.1 billion. Liabilities of $9.4 billion; as of Dec. 31, 2022
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.
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