KBRA Assigns Insurance Financial Strength Rating of A- to Catholic Financial Life

Kroll Bond Rating Agency (KBRA) has assigned an insurance financial strength rating (IFSR) of A- to Catholic Financial Life (CFL), a fraternal benefit society domiciled in Milwaukee, Wisconsin. The Outlook for the rating is Stable.

The rating reflects CFL’s conservative balance sheet, solid membership base, steady statutory earnings, M&A expertise, diversified business mix and value-added ERM practices. Balancing these strengths are CFL’s noteworthy exposure to spread compression within its annuity block due to relatively high crediting rates and low new money rates, challenge to organically increase membership (similar to what has been experienced by most fraternals), and execution risk with respect to employee/agent retention, systems integration and realization of expense synergies. CFL is the second largest Catholic not-for-profit financial services organization in the U.S., helping members achieve financial security while supporting the Catholic community through fraternal outreach.

The rating is based on KBRA’s Global Insurer & Insurance Holding Company Rating Methodology published on October 10, 2017.

To access the full report, click here or visit www.kbra.com.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171215005504/en/