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April 16, 2007 at 08:00 PM
Illinois Mutual, Peoria, Ill., has announced its record-breaking 2006 year-end financial results in its recently released 2006 Annual Report. The report details the financial achievements of the Company last year, and also focuses on the strong relationships the Company has with its agents and policyowners and the forward-thinking products it offers.
Through a conservative, yet progressive, financial investment approach, Illinois Mutual now boasts a surplus-to-asset ratio of 14.5%, which is much stronger than the 11.09% average of the Townsend top 100 life insurance companies. Additionally, the Company’s assets grew to $1.234 billion, up more than 45% from five years ago, and gross investment income reached $84.8 million, a 34% increase from five years ago, which indicates Illinois Mutual’s continued success in managing assets in a soft interest rate environment. At year-end 2006, the insurance in force at Illinois Mutual was backed by aggregate reserves in the amount of $1.014 billion, a 43.9% increase from five years ago. “After a very successful financial year in 2005, we challenged ourselves to seek even higher achievement and exceeded all goals that were set for 2006. Still, even though our figures are impressive and meaningful, we are most proud of the way in which they were achieved,” said Michel A. McCord, President and Chairman. “A year like this is the result of good people working together, and we take a lot of pride in our relationships with our agents and policyholders and our sincere dedication to customer service.”
