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Royal Neighbors of America announces record-setting life insurance and annuity sales in 2009 - 02/26/10
(Rock Island, IL) – Royal Neighbors of America reported record-setting numbers in life insurance and annuity sales in 2009. Life insurance premiums from new business issued in 2009 was $16.9 million, an increase of $8.7 million from 2008. Annuity sales increased $16.3 million to $44.7 million. The favorable financial results also show assets of $719 million and surplus of $222 million, resulting in a surplus ratio in excess of 30%, which is significantly above the estimated industry benchmark of less than 8%.
The A.M. Best Company, an internationally respected insurance industry rating agency, also has reaffirmed Royal Neighbors’ A- (Excellent) rating due to its strong level of risk-adjusted capitalization, well-established fraternal presence, and large membership base.
“Royal Neighbors remains among the most financially secure insurance carriers in the industry,” said Cynthia Tidwell, Royal Neighbors President/CEO. “Our strength and stability, our hallmark for 115 years, give our members peace of mind knowing their financial futures are protected.
“In addition, our strong operating results help fund our mission of financial education, health and wellness. We are proud to continue offering Insurance with a DifferenceSM.”
As a non-profit fraternal organization, Royal Neighbors of America exists for the benefit of its members. It offers insurance products to fulfill a variety of needs for growth, savings, and protection. Members also receive valuable member benefits and can participate in volunteer activities through the organization’s local chapters to make a difference in their communities. The organization’s philanthropic efforts are dedicated to changing women’s lives through its national programs and through the Royal Neighbors Foundation, a 501(c)(3) public charity.
Headquartered in Rock Island, IL, with branch offices in Mesa, AZ, and Austin, TX, Royal Neighbors serves more than 225,000 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.
