(Toronto, ON, October 11, 2018) – Foresters Financial™, an international financial services provider, has maintained its A.M. Best financial strength1 ratings.
The independent rating agency A.M. Best Company2 has affirmed The Independent Order of Foresters (IOF) “A” (Excellent) Financial Strength Rating (FSR) and an issuer credit rating (ICR) of “a+”. The IOF has maintained an “A” rating for 18 consecutive years.
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 is keenly focused on maintaining our financial strength across all our subsidiaries and geographies," said Alvin Sharma, Global Chief Financial Officer, Foresters Financial. "Maintaining our long track record of A ratings is a testament to our strong foundation and stability."
Foresters has shared its financial strength with its members3 and their communities for over 140 years and is a strong financial position with total funds under management of $45.1 billion (CDN) and total assets of $17.7 billion (CDN) as of December 31, 2017. Foresters gross premium income increased by 5.8 percent in 2017 and at the end of the year, it had more than 3.1 million certificates under management and over three million members and customers in Canada, the U.S. and the U.K.
Foresters solvency ratios4 are well above local regulatory requirements and industry averages in all three countries in which it operates - Canada, the US and the UK. In addition, Foresters surplus of $2 billion CDN5 allow it to withstand adverse business and market conditions.
For more information about A.M. Best Company's ratings, visit ambest.com.
About Foresters Financial
Foresters Financial is purpose-driven financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. We provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities. Foresters Financial has assets of $17.7 billion, liabilities of $15.7 billion, total funds under management of $45.1 billion and a surplus of $2 billion (all figures in Canadian dollars as of December 31, 2017). For more information, visit foresters.com.
For more information:
416-429-3000 Ext 4044