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Royal Neighbors of America announces another record-setting year in life insurance sales in 2010
5/10/2011 12:00:00 AM
(Rock Island, IL) – Royal Neighbors of America reported record-setting numbers in life insurance sales in 2010. Life insurance premium from new business issued in 2010 was $17.3 million, an increase of $0.4 million from the 2009 record-setting results. An additional indicator of a strong year includes annuity sales of $39.3 million. The favorable financial results also show assets of $766 million. A surplus of $228 million, resulting in a surplus ratio of 30%, demonstrates the organization’s continued strength and stability. This is significantly above the estimated industry benchmark of less than 8%.
A.M. Best, an internationally respected insurance industry rating agency, continues to rate Royal Neighbors an A- (Excellent) for its overall financial strength and ability to meet ongoing obligations to policyholders. The agency recognizes Royal Neighbors’ strong level of risk-adjusted capitalization, well-established fraternal presence, and large membership base.
“Our 2010 financial report once again demonstrates our dedication to providing sound insurance products that meet the needs of our members,” said Cynthia Tidwell, President/CEO. “In addition, these strong operating results position us to continue to carry out our 116-year mission of empowering women to achieve financial security, health, and wellness. It is clear that offering Insurance with a DifferenceSM resonates with people who understand the value of volunteerism and giving back. We’re proud they have found a ‘home’ with Royal Neighbors.”
She continued, “Our success also is due to the independent agents who now sell our products nationwide. They bring a new level of experience and professionalism to the organization, while supporting our fraternal initiatives that make a difference in their communities.”
Royal Neighbors of America is a life insurance organization that exists for the benefit of its members. It offers insurance products to fulfill financial needs of growth, savings, and protection. Members receive valuable benefits and can participate in volunteer activities through the organization's local chapters to help make a difference in their communities. The organization's philanthropic efforts are dedicated to changing women's lives through its national programs, including JOIN HANDS DAY, and through the Royal Neighbors Foundation, a 501c(3) public charity.
Headquartered in Rock Island, IL, with branch offices in Mesa, AZ, and Austin, TX, Royal Neighbors serves more than 215,000 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 www.royalneighbors.org.