Thursday, March 15, 2018

Looking Back: 2017 and Financial Momentum

Last year was a strong financial year for our business in more than a few ways. 
We share the specifics in today’s announcement and our latest annual report. Highlights include:
·      We generated strong financial results through revenues, income and assets.
·      We embraced disruption through new data analytics solutions (AdvantEdge Analytics) and fintech investments (CMFG Ventures).
·      We surpassed $6 billion in assets under management (AUM) for annuity products and saw annuity sales grow through our broker/dealer and financial advisor network (CUNA Brokerage Services Inc).
·      Our consumer brand TruStage® became one of the first companies to bring two entirely online life insurance products to market. Its simplified-issue term life insurance product exceeded $1 billion in issued coverage in less than a year.
·      We gave back. Responding to weather-related disaster conditions, we paid claims and deployed our disaster response teams to affected areas. We also supported CUAid, credit union leagues, other industry organizations/causes and local community nonprofits through corporate giving and volunteer work.
·      A.M. Best Company upgraded our key insurance companies’ Long-Term Credit Ratings to “a+” from “a” and affirmed the Financial Strength Ratings of A (Excellent) with a stable outlook.
Reflecting on this, our chief financial officer Thomas J. Merfeld said, “Our financial strength and record balance sheet allow us to invest in new capabilities to serve our customers and continue to stay true to our purpose of helping people secure their financial futures.” 
For more information, see today's press release or our 2017 Year in Review report.