Foresters Financial celebrates twenty years of A.M. Best “A” (Excellent) ratings
(Toronto, ON, August 13, 2020) – Foresters Financial™, the international fraternal life insurer, today announced that the independent rating agency A.M. Best Company1 has affirmed The Independent Order of Foresters (IOF) Financial Strength Rating (FSR) of “A” (Excellent) and an issuer credit rating (ICR) of “a+”. Foresters Financial has maintained an Excellent A.M. Best financial strength2 rating for twenty consecutive years.
This independent rating is an important measure of the organization’s financial strength and stability, reflecting the ability of Foresters Financial to fulfill its ongoing insurance obligations to its members (insureds).
"Twenty years is a proud milestone, and a testament to our dedication to financial stability," said Alvin Sharma, Global Chief Financial Officer, Foresters Financial. "We look forward to continuing to serve the needs of our members and their families, as the leading fraternal life insurer."
Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters maintains total assets of $18.5 billion (CAD) as of December 31, 2019 and surplus of $2.1 billion3, while in-force certificates and contracts have grown to more than 2.5 million in Canada and the U.S. Foresters solvency ratios, including its market leading Canadian regulatory LICAT ratio, are well above local requirements in all jurisdictions in which it operates.
For more information about A.M. Best Company's ratings, visit ambest.com.
About Foresters Financial
Since 1874, Foresters Financial has been providing socially responsible financial services to individuals and families. Foresters Financial includes The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. Foresters is a purpose-driven organization that exists to enrich family and community well-being and offers insurance products to over three million members and clients in Canada, the US and the U.K. For 20 straight years, The Independent Order of Foresters has received an “A” (Excellent) rating from A.M. Best. For more information please visit foresters.com
For information purposes only.
™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.
1 The A.M. Best ratings assigned on August 5, 2020 reflect overall strength and claims-paying ability of The Independent Order of Foresters (IOF). An “A” (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for IOF, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest ratings.
2 Financial strength refers to the overall financial health of The Independent Order of Foresters. It does not refer to nor represent the performance of any particular investment or insurance product. All investing involves risk, including the risk that you can lose money.
3 This surplus represents excess funds above the amount required as legal reserves for insurance and annuity certificates in force and provides additional assurances to our members for our long term financial strength.