United Heritage Life Insurance Company was recently named to the Ward’s 50 Benchmark Group of life-health insurance companies in the U.S., in recognition of outstanding safety, consistency and performance in the five year period as analyzed by the Ward Group from 2010 to 2014.
“In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results,” explained Jeff Rieder, Partner and Head of Ward Group, in announcing the release of results for 2015.
Since 1991, Ward Group has conducted its analyses of nearly 800 life and health insurance companies, comparing performance among the top fifty with the insurance industry at large. Each of the Ward’s 50 companies must pass primary safety and consistency tests before being measured against major benchmarks for financial performance.
The Ward’s 50 group of life and health insurers produced a 21.8% return on average equity from 2010 to 2014, more than double the 8.9% for the life and health industry overall. The top fifty group also outperformed in key benchmarks including five-year policyholder surplus growth and growth of net premium income, among others. In addition to achieving higher financial returns, the Ward’s 50 companies achieved lower expense ratios as well; expenses relative to revenue were 8.3% lower than industry average for the Ward’s 50 life and health group in 2014.
“This national listing among Ward’s 50 reflects our historically favorable operating performance, conservative investment philosophy, and long-term relationships with our network of more than 1100 independent agents throughout 38 states and the District of Columbia,” stated Dennis Johnson, President and CEO of United Heritage Financial Group and United Heritage Life Insurance Company.
United Heritage Financial Group owns four insurance companies based in Idaho, Oregon and California, which benefit from numerous shared corporate services that include investments, treasury and financial reporting, information technology and human resources, legal and regulatory compliance, and specific actuarial functions.