(NEW HAVEN, CT) - The Knights of Columbus insurance
program passed a major milestone today, when total
insurance in force exceeded $65 billion for the first
time. The Order was established in 1882 as a fraternal
benefit society, and one of its primary aims was to
enable its members to protect their families with life
insurance. The amount of
Knights of Columbus life insurance in force has
doubled in the past decade, from $32.9 billion in 1997
to $65 billion today.
The
Knights of Columbus now has over $14 billion in
assets and more than 1.8 million life, annuity and
long-term care policies in force, and ranks in the
Fortune 1000 list of America's largest companies. It is
one of only six insurance companies in North America to
receive the highest possible rating from both Standard &
Poor's (AAA) and A.M. Best (A++), and certification of
ethical business practices from the Insurance
Marketplace Standards Association (IMSA).
Supreme Knight and CEO Carl A. Anderson said that
surpassing the $65 billion milestone "is solid evidence
of our faithfulness to the vision of our founder, Fr.
Michael J. McGivney, and a real tribute to our force of
more than 1,300 field agents who have dedicated their
careers to helping our members build a rock solid
foundation on which to provide financial protection to
their families."
The
Knights of Columbus has more than 1.7 million
members worldwide, in more than 13,000 local and state
councils and fourth degree assemblies. Last year,
members donated more than 68 million hours of volunteer
time and $143 million to charitable causes.
Tuesday, October 30, 2007
