Adrian, MI – Gleaner Life Insurance Society’s insurance financial strength rating has been reaffirmed by Kroll Bond Rating Agency. For the seventh consecutive year, KBRA affirmed Gleaner Life’s IFSR rating as “A-” with an outlook rated “Stable.” An “A” rating is the third-best letter grade of 11 IFSR ratings given by KBRA.
The agency said, “The rating reflects Gleaner’s conservative balance sheet, historically stable operating results, disciplined product pricing and crediting rate practices, and its diverse asset portfolio. The Society has shifted its strategy to focus more heavily on profitability which has caused a shift in sales tactics towards favoring annuities over life insurance products. KBRA believes that Gleaner continues to employ disciplined product pricing and crediting rate practices on current products and actively adjusts rates to maintain favorable spreads.”
Founded in 1894, Gleaner Life Insurance Society is a nationally recognized not-for-profit fraternal benefit society located in Adrian.
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