This news appeared in the Milwaukee Journal Sentinel and Milwaukee Biztimes. Click the logos below to read coverage:
March 23, 2015
Milwaukee, Wis. – Catholic Financial Life reported record breaking results in the following metrics for 2014: net income was up $3.6 million to $10.8 million, assets grew to $1.35 billion, and life insurance in force surpassed $5 billion. In addition, surplus grew 7% reaching $45.9 million and total adjusted capital grew 8.5% to $54.6 million.
“Last year at this time I said that I was bullish and our 2014 results affirm that optimism,” commented Bill O’Toole, president and CEO. “I remain optimistic about 2015 given our fiscally conservative approach combined with focused investments in our people and technology.”
As a result of its financial success, Catholic Financial Life members will see dividends increase by 6% on average. “When the organization does well financially our members share in that success,” said O’Toole. “That’s how we have done business for 147 years.”
“The loyalty of our members, as demonstrated by 97% persistency, is a testimony to our people – advisors and associates – who provide exceptional service on a daily basis. We believe in taking good care of our associates (as evidenced by our being named as a 2014 Top Workplace by the Milwaukee Journal Sentinel) and as engaged employees, they take good care of our members,” noted O’Toole.
Last year the organization’s members raised $1 million and its members received benefits such as scholarships and summer camp subsidies valued at nearly $500,000.
For 147 years, Catholic Financial Life has been helping to protect the hard working families of Main Street America. With assets of $1.35 billion and 112,000 members across the United States, Catholic Financial Life is the second largest Catholic fraternal life insurance organization in the country.