Knights of Columbus Life Insurance in Force Tops $65 Billion

10/30/2007

The Knights of Columbus insurance program passed a major milestone Oct. 30 when total insurance in force exceeded $65 billion for the first time. The Order was established in 1882 as a fraternal benefit society, and one of its primary aims was to enable its members to protect their families with life insurance. The amount of Knights of Columbus life insurance in force has doubled in the past decade, from $32.9 billion in 1997 to $65 billion today.

The Knights of Columbus now has over $14 billion in assets and more than 1.8 million life, annuity and long-term care policies in force, and ranks in the Fortune 1000 list of America’s largest companies. It is one of only six insurance companies in North America to receive the highest possible rating from both Standard & Poor’s (AAA) and A.M. Best (A++), and certification of ethical business practices from the Insurance Marketplace Standards Association (IMSA).

Supreme Knight and CEO Carl A. Anderson said that surpassing the $65 billion milestone “is solid evidence of our faithfulness to the vision of our founder, Father Michael J. McGivney, and a real tribute to our force of more than 1,300 field agents who have dedicated their careers to helping our members build a rock solid foundation on which to provide financial protection to their families.”

The Knights of Columbus has more than 1.7 million members worldwide, in more than 13,000 local and state councils and Fourth Degree assemblies. Last year, members donated more than 68 million hours of volunteer time and $143 million to charitable causes.