ADRIAN — Gleaner Life Insurance coverage Society’s credit score rankings not too long ago have been reaffirmed by two rankings businesses.

It was the 14th consecutive yr AM Finest has given Gleaner Life an “A- (Wonderful)” “Steady” ranking, and the fifth yr in a row Kroll Bond Score Company has offered “A-“ “Steady” rankings.

An “A- (Wonderful)” ranking displays AM Finest’s opinion that an organization has a wonderful potential to fulfill its ongoing insurance coverage obligations.

The ranking, issued in January, assesses key classes. The one ranking change from 2021’s assessments was an improve in Gleaner Life’s stability sheet power, which moved from “Robust” to “Very Robust.” Based on the report, that’s the strongest stage as measured by Finest’s capital adequacy ratio.

“We’re happy to obtain affirmation from AM Better of our ongoing achievements as a soon-to-be 128-year-old fraternal profit Society,” Gleaner Life President and CEO Kevin Marti mentioned within the launch. “We delight ourselves in serving to over 46,000 members defend their monetary safety with our extremely certified unbiased agent companions, whereas additionally serving to make the communities the place all of us reside and work higher locations to be.”

Along with assigning Gleaner Life a “steady” outlook, AM Finest additionally rated Gleaner Life’s working efficiency as “ample,” its enterprise profile as “impartial,” and its enterprise threat administration as “acceptable.” These have been the identical rankings AM Finest assigned in 2021.

January’s ranking marked the fifth consecutive yr Gleaner Life has acquired the “A-” ranking from KBRA.

“The Steady Outlook,” KBRA mentioned, “displays KBRA’s expectation that Gleaner will obtain constant development of its life insurance coverage portfolio, will protect its present capitalization and surplus at ranges supportive of its present ranking, preserve sound funding portfolio credit score high quality and asset/legal responsibility administration, and keep away from important unfold compression by continued energetic administration of credited charges.”

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A number of the developments that KBRA listed in making its ranking included Gleaner Life’s eight consecutive years of constructive surplus development, reinsurance treaties accomplished in 2019 and 2020 on 3.0% and three.5% annuities that decreased dangers on Gleaner’s stability sheet, enlargement into three new states ( Georgia, North Carolina and South Carolina), and decreased insurance coverage and fraternal working bills of greater than $2 million in comparison with the identical interval final yr.

“Gleaner continues to develop its life enterprise aggressively as its unbiased gross sales distribution technique continues to be efficient,” KBRA mentioned.

“We’re happy to obtain affirmation from KBRA of our ongoing achievements as a soon-to-be 128-year-old fraternal profit Society,” Marti mentioned. “We delight ourselves in serving to over 46,000 members of their monetary safety with our extremely certified unbiased agent companions, whereas additionally serving to make the communities the place all of us reside and work higher locations to be.”

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