NEW YORK, July 21, 2015 /PRNewswire/ - First Investors Life Insurance Company has been named to the 2015 Ward's 50® group of top-performing companies. This is the sixth consecutive year that First Investors Life has been included among the top 50 life insurance companies by The Ward Group.
"We are honored to have been recognized by the Ward Group for six years in a row," says Carol Springsteen, President of First Investors Life. "I am proud of the FIL organization for earning this industry recognition, a true testament to the effort of our representatives. We have worked hard to maintain the Company's financial strength and security, with a focus on providing outstanding customer service to our representatives and clients each and every day."
To develop its annual list of the top 50 performing insurance companies, Ward Group analyzes the performance of over 3,000 property-casualty insurance companies and nearly 800 life-health insurance companies domiciled in the United States and identifies the top performers based on objective data and subjective quality measures. Each company must pass safety and consistency screens and achieve superior performance over a five-year period.
"First Investors Life Insurance Company is recognized for achieving outstanding financial results in the areas of safety, consistency and performance over a five-year period," says Jeff Rieder, partner and head of the Cincinnati-Ohio based Ward Group.
Ward Group, a McLagan/Aon Hewitt company, is the leading provider of benchmarking and best practices studies for insurance companies. The firm analyzes staff levels, compensation, expenses and business practices for all areas of insurance company operations and helps companies to measure results, optimize performance and improve profitability. This is the 25th consecutive year Ward Group has conducted the analysis.
* * *
Life insurance policies are offered by First Investors Life Insurance Company and distributed by First Investors Corporation; each is a wholly owned subsidiary of First Investors Consolidated Corporation (FICC).
About First Investors
First Investors is a diversified financial services company helping everyday families reach their financial goals, offering solutions such as investment products, and life insurance as well as strategies spanning saving, investing, education funding and retirement. First Investors Corporation and First Investors Life Insurance Company are subsidiaries of First Investors Consolidated Corporation. All securities products are offered through First Investors Corporation. To learn more about First Investors please visit us at: www.firstinvestors.com
For 140 years, Foresters™, an international financial services organization, has fulfilled its purpose to enhance family well-being for its members and the communities where they live. A fraternal benefit society, Foresters offers quality life insurance and investment products, unique member benefits and inspiring community activities. Foresters shares its financial strength with more than one million members in Canada, the United States and the United Kingdom. Foresters has assets of almost $12 billion, total funds under management of $28 billion and a surplus of $1.9 billion (all figures in Canadian dollars as of December 31, 2014) and maintains an "A" (Excellent) rating by A.M. Best1. Foresters subsidiary Foresters Life Insurance Company's rating is "A-" and First Investors Life Insurance Company, also a Foresters subsidiary, received an "A" rating. For more information, visit foresters.com.
Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.
1 An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for The Independent Order of Foresters (Foresters) and its subsidiaries Foresters Life Insurance Company and First Investors Life Insurance Company on July 15, 2015, A.M. Best stated that the outlook for all ratings is "stable", which means they are unlikely to change in the near future. See ambest.com for the latest ratings.
SOURCE First Investors Corporation