Further Demonstrating Commitment to Member Financial Security.
GBU Life CEO, Bill Hunt
Pittsburgh, PA, July 22, 2024 – GBU Financial Life (GBU Life) is pleased to announce that AM Best has revised its outlook to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “A-“ (Excellent) for GBU Life. This recognition reflects GBU Life’s dedication to financial stability and security for its members.
Bill Hunt, CEO of GBU Life, expressed his thoughts on this achievement: “At GBU Life, our primary focus has always been to provide our members with the highest level of financial security, along with sound, conservative opportunities to grow, protect and distribute their wealth. This positive outlook from AM Best independently attests to GBU Life’s stronger commitment to excellence and reinforces our premier position as a trusted provider of quality life insurance and annuity solutions for our members.”
GBU Life’s success can be attributed to its strong balance sheet, robust operating performance and effective enterprise risk management (ERM) practices. The company’s expansion of its geographic footprint, product offerings and overall market presence has contributed to its long-term improvement and alignment with major industry peers.
With significant growth in recent years in total assets, capital and surplus, membership count and distribution channels, GBU Life continues to advance its position in the market. The company’s strong balance sheet is supported by adequate risk-adjusted capitalization and conservative reserving practices, ensuring the security of its members’ investments.
GBU Life’s commitment to financial security is further demonstrated through its strong operating performance, evidenced by above-average investment yields and rapid net premium growth. The company’s ERM program is assessed as appropriate, reflecting its formalized processes and structures to manage risks effectively.
GBU’s financial strength is the foundation of its ability to expand the diverse ways its members serve their communities through fraternal activities that appeal to all generations.
As GBU Life looks towards the future, it remains dedicated to upholding its reputation for excellence and providing its members with the highest level of financial security and stability.
