Royal Neighbors of America Reports Strong Results in 2007
2/29/2008
Contact: Rita Toalson, FLMI, ACS (309)732-8376
(Rock Island, IL) – Royal Neighbors of America reported strong financial results for 2007, assets grew to $683.2 million and surplus was $244.3 million, a 16% or $33.2 million increase. The organization also maintained a surplus ratio of 35.6%, significantly above the industry benchmark of 8.6%.
Net income rose from $23.7 million in 2006 to $35.3 million representing an increase of $11.6 million or 48.9%. Premium income, before reinsurance, was $127.6 million, an increase of 38.3% over the prior year. Royal Neighbors is among the most financially secure insurance carriers in the industry.
Cynthia Tidwell, Royal Neighbors President/CEO, said, “Strong operating results help fund our mission of financial education, health and wellness for all of our members. Our 2007 financial achievements provide significant opportunities for us to effectively continue the work the organization has been doing for more than 100 years. Our expanded portfolio of insurance products, outstanding distribution and dedicated staff combined with an engaged and energized membership, ensures that we continue to deliver the services we have been known for and make a difference in communities years to come."
Royal Neighbors of America is a non-profit fraternal membership organization that insures lives, supports women, and serves communities. In addition to being able to purchase insurance and annuity products, its members also participate in a variety of locally based volunteer opportunities, and are eligible to apply for many membership benefits such as scholarships and disaster aid.
Headquartered in Rock Island, IL, Royal Neighbors serves more than 240,000 members and is licensed to do business in 42 states and the District of Columbia.
For more information about Royal Neighbors of America, call (800) 627-4762, or visit the Web site at www.royalneighbors.org.
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