NEW HAVEN, CT  — The Knights of Columbus announced March 25 it has now surpassed $50 billion of life insurance in force.

Its 16.5 percent increase in sales volume and nearly 10 percent increase in new premiums, gave the 122-year-old Catholic fraternal insurance company its first-ever $5 billion sales year.

“The Knights of Columbus is experiencing tremendous growth in all areas of operation,” said Carl A. Anderson, CEO and Supreme Knight, in announcing the $50 billion milestone. “We’re on an upward track in several key sectors: more new members, more local councils, more agents, and significantly increased charitable giving and insurance sales.”

With nearly 1.7 million members of the organization in over 12,600 councils, the Knights of Columbus insures the lives of more than 1.2 million men, women and children.

The Knights consistently earns top ratings from both the A. M. Best Co. and Standard & Poor’s and carries the coveted Insurance Marketplace Standards Association (IMSA) seal of approval for ethical marketing, sales and best practices. It is also among only six North America life insurance carriers to have achieved all three of these distinctions.

The sale of insurance has been a part of the organization’s program since its founding in New Haven in 1882 by Father Michael J. McGivney, a 29-year-old Catholic priest, who is now under consideration for sainthood at the Vatican. Best known for its charitable activities, the Knights donated $1 million last year to Special Olympics to send athletes from the United States, Canada and Mexico to the international Summer Games. Last year, the Knights also sent 2,000 wheelchairs to land mine victims and people with disabilities in Afghanistan. In 2002, members reported raising and contributing a record $128.5 million and volunteering a record 60.8 million hours of service to local communities.