$8.78 billion in new insurance sold
Contact: Joseph Cullen, Knights of Columbus, 203-800-4923, firstname.lastname@example.org
NEW HAVEN, Conn., March 1, 2018 /Christian Newswire/ -- The Knights of Columbus recorded its 17th consecutive year of growth in insurance sales in 2017 with $8.78 billion in new life insurance sold — an increase of more than $245 million over the previous year. The K of C now has more than $109 billion of life insurance in force, signifying a $39.5 billion increase in the last decade due to record sales.
"We remain committed to our founding vision of protecting the financial future of Catholic families," said Knights of Columbus CEO Carl Anderson. "We offer top-quality financial protection provided by professionals who are brother Knights, who share our values and who act on them."
The Knights of Columbus was founded in 1882 in New Haven, Conn., by Father Michael J. McGivney. Today, it is the largest Catholic fraternal order in the world.
"As a true parish priest, Father McGivney accompanied his people in times of tragedy and sought to alleviate their hardships with practical solutions, which led to the establishment of the insurance program," said Anderson.
The new sales record caps a solid year for the Knights. In February, for the fifth consecutive year, the organization was named a "World's Most Ethical Company®" by the Ethisphere® Institute, an independent center for research promoting best practices in corporate ethics and governance.
In 2017, the Knights was again listed on the Fortune 1000 list (880) and earned a financial strength rating of A+ (Superior) from AM Best.
With one of the lowest lapse rates in the industry, the K of C offers a product line designed to provide life insurance, annuities, disability income and long-term care policies to meet the needs of Catholic families, all while enjoying a stellar reputation for financial security.
The Knights of Columbus is also one of the country's most active charitable groups. The 1.9 million member organization set a new all-time record for charitable donations in 2016, with more than $177.5 million in donations and more than 75 million hours of service valued at $1.8 billion.