Gleaner Life Insurance Society receives “A-” financial strength ratings from both A. M. Best Rating Services, Inc. and Kroll Bond Rating Agency
May 20, 2019
A.M. Best Company and Kroll Bond Rating Agency (KBRA) both recently affirmed Gleaner Life Insurance Society’s “A-” rating with a “Stable” outlook for 2019. For the past 11 years, Gleaner has maintained our rating of “A- (Excellent)” through A.M. Best. This was the second year Kroll has reviewed Gleaner Life Insurance Society’s performance and financial strength.
The “A- (Excellent)” rating is assigned to companies that have, in A.M. Best’s opinion, an excellent ability to meet their ongoing insurance obligations. A.M. Best is a worldwide insurance rating and information agency that has been in operation for over 100 years. It is the largest and longest-established company devoted to issuing in-depth reports and financial strength ratings on insurance organizations. Individuals can review a company’s rating assignment and their financial strength rating rationale by visiting www.ambest.com.
“Gleaner Life Insurance Society is pleased to have retained our ‘A-‘ rating with a ‘Stable’ outlook from both our independent rating agencies. This confirmation is based on both our 2018 financial results, including significant new life insurance business growth, and our financial strength as shown in our record member surplus position at year end,” said Kevin Marti, Gleaner Life Insurance Society’s president and CEO.
Kroll’s “A-/Stable” insurance financial strength rating reflects Gleaner’s conservative balance sheet, stable net operating gains, and favorable capital trends. The ratings are based on KBRA’s Global Insurer & Insurance Holding Company Rating Methodology (October 2017). Kroll Bond Rating Agency was established in 2010 with the mission to set a standard of excellence and integrity. Individuals can review a company’s rating assignment and their financial strength rating rationale by visiting www.kbra.com.
Founded in 1894, Gleaner Life Insurance Society is a nationally recognized not-for-profit fraternal benefit society. Gleaner assists its members in achieving their financial security goals through a broad range of life insurance and annuity financial solutions. As a fraternal organization, Gleaner provides volunteer opportunities and support outreach programs, which make a difference in the lives of our members and the communities where they live, work and serve.
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