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For the 14th consecutive year, Standard & Poor’s has given the Knights of Columbus its highest rating: AAA (Extremely Strong). With a 140-year history, Standard & Poor’s is the financial industry’s foremost independent rating bureau, providing investment, credit and risk analyses of institutions around the world.
The Knights of Columbus also recently received an A++ (Superior) rating for the 31st consecutive year from the A.M. Best Company, which exclusively evaluates insurance organizations. The Knights are one of only four 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 for ethical business practices.
In its 2006 report, Standard & Poor’s singles out the Knights of Columbus’s “strong capital,” and its “very strong” competitive position and liquidity. It also cites the Knights’ “historically strong profitability,” which it attributes to the insurer’s record of “high persistency rates, favorable mortality experience, and strong investment returns.”
The Standard & Poor’s report goes on to note that the Knights of Columbus is “successfully achieving its primary objective of providing members and their families with high-quality, low-cost insurance products. The [Order] focuses on membership growth and the distribution of fraternal benefits by engaging its members in charitable, educational, religious, and social endeavors in the community.”
Supreme Knight Carl A. Anderson expressed satisfaction with the Standard & Poor’s rating, saying the report “clearly indicates that the Knights of Columbus is fulfilling its 125-year mission of providing for the needs of its members and their families, and that it continues to rank among life insurance industry leaders in sound and ethical practices.”
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