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For the 33rd consecutive year, A.M. Best Company has given the Knights of Columbus its highest financial strength rating, A++ (Superior). A.M. Best is a worldwide rating and information agency, which conducts in-depth analyses and issues reports about the fiscal stability of insurance companies.
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In its 2008 affirmation, A.M. Best cited the Knights of Columbus’ “strong fraternal and insurance presence within the Catholic communities in the United States and Canada, its strong risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio and the Order’s consistently positive statutory operating results.”
The report also stated that “the Order has a strong affinity with its large membership base through its charitable works and competitive portfolio of life insurance and annuity products.”
Supreme Knight Carl A. Anderson said that A.M. Best’s A++ rating “confirms the wisdom of our careful investment policies in turbulent economic times, and of our adherence to our original mission of providing Catholic families with security and stability through top quality life insurance products.” During the past decade, the amount K of C insurance in force has doubled to more than $67 billion.
The Knights of Columbus is an international fraternal benefit society and the world’s largest lay Catholic organization with more than 1.75 million members. Last year members of the Knights of Columbus donated more than 68 million hours of volunteer service for charitable causes, and contributed more than $144 million to charity.
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