Foresters Financial Releases 2017 Annual Report
May. 17, 2018
TORONTO--(BUSINESS WIRE)--May 17, 2018--Foresters Financial ™, an international financial services company, is pleased to release its annual report to members. The magazine and digital version are called Moved to Action and include information on our grant programs, membership activities and 2017 financial results.
In 2017, 67,691 Foresters members and their guests attended over 1,700 fun family and volunteer activities, helping more than 700 local community organizations across Canada, the United States and the United Kingdom. The Foresters Community Grant Program contributed over $4.4 million to support members making a difference in their local communities. To learn more, click here: https://youtu.be/gfi-NSZDV0Q
Foresters gave out nearly 400 competitive scholarships to students in Canada, the United States and the United Kingdom. Our 2017 winners gave back more than 161,000 volunteer hours to their local communities. To learn more, click here: https://youtu.be/opLqwI7MlGg
Foresters paid out more than $3.1 million Emergency Assistance grants to nearly 8,200 members affected by natural disasters across the U.S. and Canada. The bulk of the assistance went to Hurricanes Harvey and Irma, but it also helped with flooding in Missouri, Quebec, Ontario and Illinois, wildfires in British Columbia and California, and tornadoes in Louisiana, Mississippi and Georgia. To learn more, click here: https://youtu.be/7wMbKvEX0iw
On the financial front, Foresters saw an increase in membership to more than 2.1 million across Canada, the United States and the United Kingdom, with over 3.1 million life insurance certificates and contracts in force. Assets under management increased to $45.1 billion, up 2.5 percent over 2016.
Life insurance and annuity premiums increased to $1.1 billion, up 6 percent year over year. Total assets rose 32 percent to $17.7 billion, with a surplus of $2 billion. The Independent Order of Foresters received an “A” (Excellent) Financial Strength rating from the A.M. Best 1 for the 17 th consecutive year. Foresters Life Insurance Company and Foresters Life Insurance and Annuity Company also received an “A” (Excellent) Financial Strength rating from A.M. Best.
For more information on Foresters Financial, our members and our 2017 results, please go to report.foresters.com.
About Foresters Financial
Foresters Financial is an international financial services provider with more than three million clients and members in Canada, the United States and the United Kingdom. We provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities. Foresters Financial has assets of $17.7 billion, liabilities of $15.7 billion, total funds under management of $45.1 billion and a surplus of $2 billion (all figures in Canadian dollars as of December 31, 2017). For more information, visit foresters.com.
Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9) and its subsidiaries.
1 An “A” (Excellent) Financial Strength Rating is assigned to companies that have a strong ability to meet their ongoing obligations to policy holders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns rating from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In 2017 A.M. Best assigned each of The Independent Order of Foresters, Foresters Life Insurance Company and Foresters Life Insurance and Annuity Company an “A” (Excellent) Financial Strength Rating. In assigning the ratings for The Independent Order of Foresters and its subsidiaries Foresters Life Insurance Company and First Investors Life Insurance Company on September 1, 2017, A.M. Best stated that the outlook for all ratings is “stable”, which means they are unlikely to change in the near future. See ambest.com for the latest ratings.
416371 CAN/US/UK (05/18), 416371 FR (05/18)
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CONTACT: Foresters Financial
416-429-3000 Ext: 4044
KEYWORD: UNITED KINGDOM EUROPE NORTH AMERICA CANADA IRELAND
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE COMMUNICATIONS PUBLISHING
SOURCE: Foresters Financial
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PUB: 05/17/2018 09:00 AM/DISC: 05/17/2018 09:00 AM