News

curved image overlay

Strongest Year in 150-Year History

4/1/2019

Catholic Financial Life’s net income increased 19 percent in 2018 to $14.3 million, the largest in its 150-year history.

“We’re pleased to announce that 2018 was our best year ever,” said Bill O’Toole, President & CEO. “We successfully completed the acquisition of Minnesota-based Degree of Honor life insurance company and fully integrated their business operations without disruption. That helped drive the record net income which resulted in surplus growing to over $99 million.”

In 2018, Kroll Bond Rating Agency (KBRA) affirmed their A- financial strength rating and stable outlook for Catholic Financial Life. The agency noted this rating reflects Catholic Financial Life’s conservative balance sheet, solid membership base, steady statutory earnings, merger and acquisition expertise, diversified business mix and value-added enterprise risk management practices.

“We’re a different kind of life insurance company,” said O’Toole. “We protect our members’ financial futures while providing them value-added benefits, like educational scholarships, totaling nearly $500,000. We also seek to improve the quality of life in our members’ communities through volunteerism.”

Last year, Catholic Financial Life donated more than $600,000 to schools. Members also volunteered 95,000 hours and helped raise $1.1 million for parishes and other nonprofits that help the poor and individuals with special needs.

“We look forward to building upon our 2018 results and continuing our robust growth in 2019 with significant investments in people and technology,” said O’Toole.

ABOUT CATHOLIC FINANCIAL LIFE

Through services including life insurance, retirement planning, education savings and more, Catholic Financial Life has been helping its members protect their financial lives for 150 years. With assets of $1.65 billion and nearly 140,000 members across the United States, Catholic Financial Life’s strength comes from being a different kind of financial community. As a member-owned organization, Catholic Financial Life’s longevity and success are a result of being a trusted financial partner. It has been recognized by the Milwaukee Journal Sentinel as a Top Workplace five years in a row. For more information about Catholic Financial Life, visit www.catholicfinanciallife.org.

Back To Top