For 37th consecutive year, A.M. Best reaffirms top A++ rating for Knights of Columbus

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6/4/2012

No North American insurer more highly rated

Record breaking streak extends to eleven years

 

For the 37th 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 2012 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 Carl Anderson said: “Earning A.M. Best's top rating again this year highlights the importance and wisdom of our sustainable business and investment models. Despite the recent economic downturn, the Knights of Columbus has grown stronger relative to our industry as people seek the safety and quality that Knights of Columbus products offer and are known for." He added: "The fact that we have earned this top rating for each of the past 37 years is a testament to our commitment to our mission of protecting the well-being of Catholic families, and viewing our members as part of our family."

In just over a decade, under Supreme Knight Anderson's leadership, the Knights of Columbus insurance in force has doubled to more than $85 billion, with more than $18.5 billion in assets under management.