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May
2, 2000
KNIGHTS
OF COLUMBUS INSURANCE
EARNS
TOP RATING FROM A.M. BEST
New Haven, CT
Citing a very strong market presence in the Catholic
community, an extensive distribution network of
agents and councils, and member loyalty, the A. M.
Best Co. announced April 26 that the Knights of
Columbus had received an A++ (Superior) rating. This
is the highest financial strength rating accorded by
A.M. Best. This marks the 25th consecutive year the
Knights of Columbus has received the A++ (Superior)
rating from the independent insurance ratings
agency.
The Knights of
Columbus offers insurance and annuities to its
members and their families. The sale of insurance
has been a part of the Orderıs program since its
founding in 1882 by Father Michael J. McGivney in
New Haven, Conn. The total amount of insurance in
force as of May 1 exceeds $38 billion. Supreme
Knight Virgil C. Dechant said the A++ (Superior)
rating confirms what we have long believed: that the
Knights of Columbus offers Catholic men and their
families one of the safest and most solid insurance
programs in the industry today.
According to A. M.
Best, the Knights of Columbus ³enjoys a favorable
market penetration evidenced by a large membership
base and continued growth. A. M. Best also noted the
Orderıs strong earnings performance and
high-quality investment portfolio. These have
enabled the Knights to maintain its relatively high
dividend scale over the long term. Last October,
Standard & Poorıs gave the Knights of Columbus
its highest rating of AAA (Superior). It was the
eighth consecutive year the Order had earned S &
P's top rating.
The Knights of
Columbus is the world's largest Catholic family
fraternal service organization. It provides members
and their families with volunteer opportunities in
service to the Catholic Church, the community,
families and young people. In 1998, the Knights of
Columbus at all levels of the organization raised
and distributed nearly $111 million to charitable
causes and volunteered 55 million hours of service.
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