Annual Report
Royal Neighbors remains committed to Insuring Lives, Supporting Women, and Serving Communities℠. Our 280,000+ members across the country help drive our mission through localized volunteerism making social impact the cornerstone of our work.
Financial & Philanthropic Performance of The Royal Neighbors of America
Royal Neighbors’ responsible growth strategies ensure we can meet our obligations to certificateholders while funding our philanthropic initiatives.
Our certificateholders’ surplus exceeds minimum regulatory requirements and provides an extra level of protection for members. Our continued financial strength and positive operating results demonstrate our long-term commitment to members and ability to meet our financial obligations.
As of December 10, 2024, Royal Neighbors is rated A Excellent (3rd highest out of 13) by the AM Best Company for overall financial strength and ability to meet ongoing obligations to certificate holders. For the latest Best’s Credit Rating, access ambest.com In 2024, Royal Neighbors delivered $43.85 million in Social Good impact and record revenue. In 2024, Royal Neighbors received its eighth Great Place to Work® certification and was rated as a 2025 Best Insurance Company by Forbes.
As of December 10, 2024, Royal Neighbors is rated A Excellent (3rd highest out of 13) by the AM Best Company for overall financial strength and ability to meet ongoing obligations to certificate holders. For the latest Best’s Credit Rating, access ambest.com
Financial Highlights
|
As of December 31, 2024
|
2024 | 2023 |
|---|---|---|
Total Admitted Assets |
$1,264,155 | $1,187,859 |
Total Certifcateholders’ Surplus |
$167,658 | $178,653 |
Premium Income, Net of Reinsurance |
$163,333 | $122,649 |
Total Income and Realized Gains |
$281,341 | $205,799 |
Net Income |
$1,772 | $1,009 |
| (dollars in thousands) |
Royal Neighbors Financial Statement Summary
Balance Sheet
As of December 31, 2024
| 2024 | 2023 | |
|---|---|---|
Cash and Short-term investments |
$25,487 | $40,307 |
Investments |
1,199,122 | 1,111,197 |
Other assets |
39,546 | 36,355 |
Total admitted assets |
$1,264,155 | $1,187,859 |
Insurance reserves and claims |
$956,763 | $900,541 |
Other liabilities |
139,734 | 108,665 |
Total reserves and liabilities |
$1,096,495 | $1,009,206 |
Total certificateholders’ surplus |
167,658 | 178,653 |
Total insurance reserves, liabilities, and surplus |
$1,264,155 | $1,187,859 |
Income Statement
| 2024 | 2023 | |
|---|---|---|
Premium income, net of reinsurance |
$163,333 | $122,649 |
Investment income |
56,086 | 47,936 |
Reinsurance allowances and miscellaneous income |
61,935 | 35,478 |
Total income |
$281,353 | $206,063 |
Benefits paid or provided |
$177,773 | $126,739 |
Commissions |
63,429 | 49,320 |
General and administrative expenses |
38,367 | 28,731 |
Net income before net realized capital gains |
1,785 | 1,273 |
Net realized capital gains |
(13) | (264) |
Net income |
$1,772 | $1,009 |
Community Reach
280,000+ members improving our communities
245+ chapters participating in grassroots volunteering
553,880 volunteer hours delivered to our communities
Social Good
$43.8 million in Social Good impact
$77,500 Scholarships awarded
$100K Nation of Neighbors℠ women’s empowerment grants awarded