Order’s insurance program earns highest rating for 36th consecutive year

For the 36th 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.

In its 2011 reaffirmation, A.M. Best cited the Knights of Columbus’ “strong fraternal and insurance presence within the Catholic communities in the United States and Canada, its superior 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 and C.E.O. Carl A. Anderson said that, “In the past 36 years, there have been five recessions. And in every single one of those years, the Order earned A.M. Best’s highest rating. This confirms the wisdom of our careful investment policies in turbulent economic times and again demonstrates our fidelity to our original mission: providing Catholic families with security and stability through top-quality life insurance products.”

In just over a decade, the amount of Knights of Columbus insurance in force has doubled to more than $80 billion. It also recently introduced disability income insurance to its product portfolio.

One of the most active charitable groups in the United States, Knights of Columbus members last year set records by providing more than 70 million hours of charitable service and over $154 million in donations to charitable causes. Cumulative figures show that, during the past decade, the Order has donated $1.4 billion to charity, and provided more than 653 million hours of volunteer service in support of charitable initiatives.