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CUNA Mutual Group Financial Strength Affirmed By A.M. Best

CUNA Mutual Group (CMG) is receiving a variety of top ratings from A.M. Best Company, a global credit rating agency.  

  • CUNA Mutual Financial Group (CMFG) Life Insurance Company (CMFG Life): "A" Excellent 
  • MEMBERS Life Insurance Company: “A” Excellent
  • CMFG Life’s property/casualty subsidiaries: CUMIS Insurance Society, Inc.: "A" Excellent
  • CUMIS Specialty Insurance Company, Inc.: "A" Excellent

In addition, A.M. Best has assigned an issuer credit rating of “BBB” to CUNA Mutual Financial Group, Inc., the intermediate holding company within the group. 

“CUNA Mutual Group is committed to long-term growth," says Alastair Shore, executive vice president and chief financial officer for CUNA Mutual Group. "This confirmation of our financial ratings is important to us as we shape the company that will serve credit unions and members for generations to come.”

In affirming CMFG Life’s “A” rating, A.M. Best cited the company’s “position as the leading provider of insurance and financial services products to credit unions, their employees and members, strategic changes to the organizational structure to improve capital flexibility, prudent capital management and reduction in investment risk.” Also cited was the company’s modest financial leverage with strong interest coverage.

Regarding CUNA Mutual Group’s property/casualty subsidiaries, A.M. Best recognized its favorable level of risk-adjusted capitalization, conservative balance sheet, overall operating profitability and well-established niche position in the credit union segment. Producers Agriculture Insurance Company and its 100 percent reinsured affiliate, Producers Lloyds Insurance Company both of Amarillo, Texas, which were previously rated with the property/casualty entities, were acquired by HCC Insurance Holdings, Inc. effective Jan. 1, 2015.

Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. More information on A.M. Best can be found at www.ambest.com.

More information on CUNA Mutual Group, visit www.cunamutual.com