For the 34th consecutive year, A.M. Best Co, a respected insurance industry analyst, has rated Catholic Life Insurance’s financial stability, security and management performance as A- (Excellent) with a stable outlook.
They based the rating on a comprehensive quantitative evaluation of the organization’s balance sheet strength, operating performance and business profile. Best considers insurers in the excellent category to have an excellent ability to meet their ongoing obligations.
Moreover, a stable outlook indicates the likelihood low of a rating change due to stable financial/market trends.
In their financial strength rating rationale, A.M. Best stated, “The ratings of Catholic Life Insurance reflect its improved business mix, reduced producer concentration and continued growth in unassigned funds in capitalization.”
They also stated, “CLI has in recent years strategically moderated sales of annuities while focusing on growing sales of life insurance to reduce the overall product concentration risk within its business mix. The society has also diversified its distribution to reduce the concentration of premium revenue generated by certain producers. Unassigned funds have steadily grown from relatively consistent operating profitability derived from its annuity business.”