“Our financial results are strong, and we are growing and well capitalized for the future,” said Thomas J. Merfeld, executive vice president and chief financial officer.
MADISON, Wis. (PRWEB) September 06, 2016
Standard & Poor’s Ratings Services (S&P) has assigned initial insurance financial strength ratings of ‘A’ to CMFG Life Insurance Company, MEMBERS Life Insurance Company, and CUMIS Insurance Society, Inc. In addition, S&P has assigned an initial issuer credit rating of ‘BBB’ to CUNA Mutual Financial Group, Inc., the intermediate holding company within the group. The outlook for all ratings is stable.
The ‘A’ insurance financial strength rating ranks sixth highest out of 21 ratings by S&P and reflects CUNA Mutual Group’s position as a leading provider in the U.S. of insurance and financial services to credit unions, their employees, and members. 2016 marks the first time CUNA Mutual Group has been rated by S&P.
“CUNA Mutual Group exists for its policyholders, and we strongly believe in honoring our commitment to them,” said Robert N. Trunzo, president and CEO. “Maintaining our financial strength enables us to develop long-term plans and investments that will serve our customers for generations to come.”
In issuing the ratings, S&P stated CUNA Mutual Group’s entities “reflect both strong business and financial risk profiles, built on very strong capitalization and moderate risk position.” In addition, S&P noted the ratings reflect a solid market position in the U.S. credit union market and strong financial performance.
“Our financial results are strong, and we are growing and well capitalized for the future,” said Thomas J. Merfeld, executive vice president and chief financial officer. “We remain focused on offering products and services hardworking Americans need to build a strong financial future.”
About CUNA Mutual Group:
CUNA Mutual Group helps people plan, protect and invest for their future – regardless of their financial standing. The company was founded more than 80 years ago by credit union leaders who were looking for an insurance partner they could trust. Today, CUNA Mutual Group helps credit unions and hardworking Americans build financial security through commercial and personal insurance products; lending and payment security solutions; and risk management, retirement, investment and marketing services. Additional information about the company can be found at http://www.cunamutual.com.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis.
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