Fraternal Insurance Company
Performance Overview

Fraternal Insurance Company
Performance Overview

Conning’s analysis of Fraternal life-annuity insurance company performance from 2009-2018 suggests that a few companies within the industry are performing at a significantly higher level than the remainder. The study also offers insights as to why this small group has been more successful.

Operating margins, direct premium CAGR and return on surplus were strongest in the leading Fraternals. A number of business factors have contributed, as well as some investment strategies, including their:

• Efficiency in generating higher net investment returns and income

• Aggressiveness in investing in longer-maturity bonds

• More efficient use of lower-rated credit.

There are no particular reasons, however, why other firms can’t adopt strategies that have bolstered the leaders.
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