(Toronto, ON, September 22, 2017) – Foresters Financial™, an international financial services provider, has maintained its A.M. Best financial strength1 ratings across the organization.
The independent rating agency A.M. Best Company2 has given The Independent Order of Foresters (IOF) an “A” (Excellent) Financial Strength Rating (FSR). The IOF has maintained an “A” rating for 17 consecutive years. A.M. Best also affirmed the IOF’s issuer credit rating (ICR) of “A+”.
In addition, A.M. Best maintained the “A” (Excellent) FSR rating for two of Foresters subsidiaries, Foresters Life Insurance Company (FLIC) and Foresters Life Insurance and Annuity Company (FLIAC). The ICR for both subsidiaries also held its “A+” rating.
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 policyholders.
"Foresters Financial and its subsidiaries continue to focus on the company's financial stability and strength," says Paul Reaburn, CFO, Foresters Financial. "This A rating reaffirms our commitment to sustainable growth going forward."
Foresters has shared its financial strength with its members3 and their communities for over 140 years and is today in a strong financial position with total funds under management of $44 billion (CDN) and total assets of $13.4 billion (CDN) as of December 31, 2016. Foresters gross premium income increased by 11.6% in 2016 and at the end of the year, it had more than three million certificates under management and over one million members in Canada, the US and the UK.
Foresters conservative investment strategy has resulted in a surplus of $2.1 billion CDN4, helping it to withstand adverse business and market conditions. With a Minimum Continuing Capital and Surplus Requirements (MCCSR) ratio of 399% as of December 31, 2016, Foresters solvency ratios5 are well above local regulatory requirements and industry averages in all three countries in which it operates - Canada, the US and the UK.
For more information about A.M. Best Company's ratings, visit ambest.com.
About Foresters Financial
Foresters Financial™ is an international financial services provider with more than three million clients and members in the United States, Canada and the United Kingdom, and total funds under management of $44 billion. With a history of more than 140 years, we provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals, protect their families and improve their communities. For more information, visit foresters.com.
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