Gleaner Financial Performance
As a fraternal benefit society, Gleaner Life Insurance Society’s mission is to offer financial protection, fraternal benefits, and volunteer opportunities to our members. As a friend of the family, we recognize the importance of preserving your loved one’s future with reliable service and responsible investments.
We are proud of our investment and mortgage portfolios. Their high-yield, low-risk nature has contributed to our consistently healthy, steady growth for over 115 years. The soundness of our investments has helped us earn an "A- "(Excellent) rating assigned by A.M. Best Company.
Our investment portfolio is composed of bonds and well-secured real estate mortgages. We purchase only investment grade bonds that are rated by Moody’s and Standard & Poor’s, the two major rating bureaus. In addition, our bond purchases are rated in the National Association of Insurance Commissioners' two highest categories. To maintain a well-balanced, diversified portfolio, we seek investments in many corporations over a wide range of industry sectors.
Our mortgage portfolio consists of first liens on residential and commercial properties. We require a large down payment on our mortgage loans to help keep our investment portfolio more secure. Our mortgage portfolio has outstanding quality with no subprime mortgage exposure. We've diversified our purchases by acquiring conventional and government-insured mortgages with locations in five states.
Gleaner at a glance
Gleaner is financially secure and strong.
- Gleaner has zero debt
- Gleaner has over 1.14 billion dollars in assets (as of December 31, 2009)
- According to A.M. Best, our current rating continues to be a secure financial strength rating and is assigned to companies that have, in A.M. Best’s opinion, an excellent ability to meet their ongoing insurance obligations.
- Gleaner’s surplus ratio continues at a significant level of $107.64 (amount of assets for each $100 of our liabilities). Gleaner built a large and secure surplus position to responsibly plan for and manage potential investment losses and other unforeseen risks.