Milestone highlights K of C's financial protection of Catholic families
Contact: Joe Cullen, 203-800-4923, joseph.cullen@kofc.org; Andrew Walther, 203-752-4253, andrew.walther@kofc.org; both with Knights of Columbus
NEW HAVEN, Conn., Nov. 5, 2015 /Christian Newswire/ -- The Knights of Columbus surpassed $100 billion of life insurance in force this week, marking an important milestone in the Catholic fraternal benefit society's mission to protect the future of Catholic families.
This milestone was achieved despite continuing adverse conditions affecting the insurance industry.
Established in 1882 by a young Catholic priest, the organization — which offers its line of top-rated products exclusively to its members and their eligible family members — manages $21 billion in assets and ranks 939 on the 2015 Fortune 1000 list, placing it among the largest life insurers in North America.
"The $100 billion milestone is not simply a number," said Knights of Columbus CEO Carl A. Anderson. "It highlights the fact that each year we are protecting the future of more Catholic families, continuing the mission of our founder, Venerable Father Michael J. McGivney."
The Knights of Columbus offers insurance to its members and their families through a network of more than 1,500 dedicated, professional agents in the United States and Canada — all of whom are members of the Knights of Columbus.
"With each dollar of top-rated insurance in force that our professional agency force adds, additional, meaningful security is provided to the families whose livelihoods we protect," said Anderson.
The $100 billion milestone caps a year in which the Knights of Columbus set a new record for insurance sales with $8 billion sold, earned the top rating of A++ Superior from AM Best for the 40th consecutive year, and was named a "World's Most Ethical Company" for the second consecutive year by the Ethisphere Institute®.
The Knights of Columbus is the world's largest Catholic fraternal organization with nearly 1.9 million members worldwide. It is also one of the most active charitable organizations in the United States. Based in more than 15,000 councils worldwide, Knights led the organization to a new record for charitable giving in 2014 with donations of more than $173.5 million and 71.5 million hours of service to charitable causes.
