Order’s insurance program gets highest rating for 32nd consecutive year.
For the 32nd consecutive year, A.M. Best Company has assigned 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.
In its 2007 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 its consistently positive statutory operating results.”
The report also pointed to the K of C’s “evolving fraternal programs in other countries such as Mexico, Poland the Pacific Rim territories and the Philippines, which could add to new membership growth going forward.”
Supreme Knight Carl A. Anderson welcomed the A.M. Best report and, reflecting on the Knights of Columbus’ 125th anniversary (1882-2007), said that A++ rating “is a result of continued and fervent 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 nearly $64 billion.
The Knights of Columbus is an international fraternal benefit society and the world’s largest lay Catholic organization with more than 1.7 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 $143 million to charity.