MADISON, Wis. (2/16/16)--Moody’s Investors Service has assigned initial insurance financial strength ratings of A2 to CMFG Life Insurance Co., MEMBERS Life Insurance Co. and CUMIS Insurance Society Inc.
This year marks the first time CUNA Mutual Group has been rated by Moody’s.
Moody’s also has assigned an initial issuer credit rating of Baa2 to CUNA Mutual Financial Group Inc., the intermediate holding company within the group. The outlook for all ratings is stable.
The A2 insurance financial strength rating ranks sixth-highest out of 21 ratings by Moody’s and reflects CUNA Mutual Group’s position as a provider in the United States of insurance and financial services to credit unions, their employees and members.
“CUNA Mutual Group is focused on building financial strength to help our customers for generations to come,” said Robert N. Trunzo, CUNA Mutual president/CEO. “The Moody’s ratings are another positive indication of our commitment to long-term success.”
Moody’s noted a solid financial profile, strong capitalization, moderate financial leverage and consistent earnings generation.
Regarding CUNA Mutual Group’s property/casualty subsidiary, CUMIS Insurance Society Inc., Moody’s cited brand recognition, multiple distribution platforms and good geographic diversification.