Fraternity-Testvériség, 1990 (68. évfolyam, 1-4. szám)
1990-04-01 / 2. szám
FRATERNITY Page 3 PRESIDENT’S CORNER ABOUT OUR SOCIETY In the last issue of the Fraternity, I reported that from the financial point of view, the Federation was secure and well. Since then I received the 1990- Standard's Independent-Comparative Report on the status of our society. In that report, the HRFA is compared with the 25 largest U.S. life insurance companies issuing life insurance to the general public. The Standard Analytical Service, Inc. is independent of any insurance company. Their financial reports and comparisons are based on statutory financial statements filed with the state insurance departments. I believe that the analysis of our organization should be made known to our membership. As I pointed out above, the 1989-financial analysis indicates that the Federation is sound and secure. Will this be the case in 1990? This will depend on the success of our membership drive and how much new premium income will be produced. Our dedicated workers, starting from the National Officers and Directors to the Branch Managers/Agents, all have to face this challenge. Let us not allow the summer to slip by without producing, as it will be difficult otherwise to bring in whatever business is lost. Although this is vacation time, it is also the time for grandparents to visit with their grandchildren — and what better and more sensible gift can a grandparent give a grandchild than a SPWL policy. This gift has also another meaning—a moral one, namely by becoming members of the Federation, our children and grandchildren will carry on the tradition of the Federation and it will so survive and flourish from generation to generation. I would like to call to the attention of our young members that they can earn some extra money by enrolling in the Federation as a "Finder." There is some work involved, yet the income is worth every effort. Finders need not fill out applications, but merely call the local representative of the Federation and tell him or her that a prospect has been identified. The rest will be taken care of by the branch manager, or if there is no representative nearby, you may call me at the Home Office at our 1-800-255-0864 number. Imre Bertalan, President FinííílPiííl Stflhi 11 tV The f'nancial condition of a life insurance organization is an important element in public 1 IliailUlcU J lauilllj confidence. In this regard we believe the fundamental factors listed below are significant. Tb following is a COMPARATIVE ANALYSIS of these basic factors, comparing HUNGARIAN REFORMED FEDERATION OF AMERICA with the 25 largest United States life insurance companies issuing life insurance to the general public. Since these 25 companies have an average of over 100 years of life insurance experience, and own a major portion of the invested assets and life insurance in force of all the companies, a favorable comparison of these factors can be indicative of financial stability. BASIC SIGNIFICANT FACTORS — AS OF DECEMBER 31, 1989 DERIVED FROM THE ANNUAL STATEMENT (The 25 Life Companies listed below are the largest by the amount of Assets held for the protection of their policyholders.) C venrv A wic,e mar9in °* Assets over Liabilities O V LI IV y bg a significant safety factor. This indicates financial soundness and a Company’s ability to meet all obligations as they become due. Assets for each $100 of Liabilities as of Dec. 31,1989. Aetna Life Ins. and Annuity Co., CT ....................$102.14 Aetna Life Insurance Company, CT ..................... 103.10 Allstate Life Insurance Company, IL .................... 105.72 Connecticut General Life Ins. Co., CT ................. 104.11 Connecticut Mutual Life Ins. Co., CT ................... 103.62 Equitable Life Assurance Society, NY ................. 102.59 Equitable Variable Life Ins. Co., NY ..................... 105.37 Executive Life Insurance Co., CA ........................ 103.61 IDS Life Insurance Company, MN ....................... 102.49 John Hancock Mutual Life Ins. Co., MA .............. 104.16 Lincoln National Life Ins. Co., IN ........................... 105.24 Massachusetts Mutual Life Ins. Co., MA ............ 104.74 Metropolitan Life Insurance Co., NY .................... 103.99 Mutual Benefit Life Ins. Co., NJ ............................. 103.68 Mutual Life Insurance Co. of New York, NY ....... 103.31 Nationwide Life Insurance Co., OH ...................... 103.97 New England Mutual Life Ins. Co., MA ............... 103.11 New York Life Ins. and Annuity Corp., DE ......... 104.61 New York Life Insurance Co., NY ........................ 106.01 Northwestern Mutual Life Ins. Co., Wl ................. 105.13 Pacific Mutual Life Insurance Co., CA ................. 103.09 Principal Mutual Life Ins. Co., IA ........................... 103.83 Prudential Insurance Co. of America, NJ ............ 103.84 State Farm Life Insurance Co., IL ........................ 114.03 Travelers Insurance Company, CT ...................... 105.19 SlimlllQ Flinrk (Including Capital, if any) OUIJJIUS I UI1UÖ Per $100 of Policy Reserves: A high surplus ratio may indicate a company’s ability to take emergencies in stride. It shows the proportion of surplus funds to the policy-reserve liabilities. AVERAGE 25 LARGEST LIFE COMPANIES ...............$7.58 HUNGARIAN REFORMED FEDERATION ... $53.19 Interest Earned to Required Net Investment Income for each $100 of Tabular Interest: This ratio shows the proportion of investment income actually earned on invested assets over the amount required to be earned (tabular interest) to maintain policy reserves. AVERAGE 25 LARGEST LIFE COMPANIES ...........$230.02 HUNGARIAN REFORMED FEDERATION .. $346.67 Additional Society Strength The following ratios are Per $1000 of life insurance in force. They show further proof of financial strength and stability: Assets per $1000 ................. Average This 25 Largest Society Life Companies $505.21 $168.15 Reserves per $1000 ............ 307.41 87.95 Surplus per $1000 ............... 163.52 6.67 FINANCIAL STATEMENT SUMMARY AS OF DECEMBER 31,1989 Admitted Assets •Premium Income $22,454,818.00 $ 787,813.00 Liabilities Total Income $15,187,194.00 $ 2,365,432.00 AVERAGE 25 LARGEST LIFE COMPANIES .... $104.13 HUNGARIAN REFORMED FEDERATION . $147.85 Gross Surplus (Ind. Capital, if any) $ 7,267,623.00 ‘W/O Annuity Deposits Insurance in Force $44,446,000.00 i • Based on the financial results achieved in the year ended 1989, the analysis made of the above organization in conclusion comparing it with the aggregate averages of the 25 LARGEST COMPANIES in OUR OPINION is FAVORABLE.
