NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned an Insurance Financial Strength Rating of A- to Catholic Order of Foresters (COF), a fraternal benefit society domiciled in Naperville, Illinois. The outlook for the rating is stable.
The rating reflects COF’s solid balance sheet, considerable membership base, steady statutory earnings, growing life insurance franchise, diversified business mix and above-average investment performance. Balancing these strengths are COF’s noteworthy exposure to spread compression within its annuity block, moderate investments in higher-risk assets, decline in membership (similar to what has been experienced by most fraternals), and evolving corporate governance and enterprise risk management practices. COF is the third largest Catholic fraternal membership society, helping members achieve financial security while supporting the Catholic community through fraternal outreach.
The ratings are based on KBRA’s Global Insurer & Insurance Holding Company Rating Methodology published on April 21, 2016.
A full report will soon be made available on www.kbra.com.
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).