Fraternity-Testvériség, 1991 (69. évfolyam, 1-4. szám)
1991-04-01 / 2. szám
FRATERNITY Page 3 President's Comer In the first issue of this year's Fraternity, the financial report of our Treasurer was made public. The statistics were taken from the annual statement of the HRFA. In light of that report, it is evident that the Federation is financially sound and able to meet all obligations and even handle unexpected emergencies with its high surplus ratio. At a time when giant insurance companies crumble, the HRFA stands on solid foundation. For the same reason, the confidence of the public in our society remains unalterably high. Since that first issue, the 1991-Standard Analytical Comparative Report on the status of our society was published. The analysis of our organization is published below so that our readers can see for themselves how our society fares financially. At the same time, we cannot relax on the financial rating - the membership fluctuation remains a problem for all fraternals, and we are no exception. Serving insurance needs of our present members and writing new certificates is our challenge for the remaining months of the year. With the cooperation of the National Officers, Directors, Branch Managers and Agents, this challenge will be met. The 34th Convention will be held in Washington, D.C., starting September 21-25, 1992. We have reserved rooms in the Holiday Inn, Crowne Plaza in Rockville, Maryland, at a daily rate of $90.00 + tax for single- & double-bedded rooms. Since fall is usually one of the most pleasant and beautiful seasons of the year, we could imagine that you would want to bring your family members, relatives and friends to take advantage of this unique occasion. Details will follow in the upcoming issues. Imre Bertalan FI n 3 n CÍ 31 St3 b i I i ty The financial condition of a life insurance organization is an important element in public confidence. In this regard we believe the fundamental factors listed below are significant. The 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 31,1990 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.) Solvency A wide margin of Assets over Liabilities can be 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. 31,1990. Aetna Life Ins. and Annuity Co., CT ........................................................$102.93 Aetna Life Insurance Company, CT ........................................................ 103.48 Allstate Life Insurance Company, IL ........................................................ 105.71 Connecticut General Life Ins. Co., CT ...................................................... 102.94 Connecticut Mutual Life Ins. Co., CT ........................................................ 104.35 Equitable Life Assurance Society, NY ...................................................... 102.29 Executive Life Insurance Co., CA .............................................................. 104.89 Hartford Life Ins. Co., CT ................................................................................ 102.84 IDS Life Insurance Company, MN .............................................................. 102.84 Jackson National Life Ins. Co., Ml ........................................................... 104.11 John Hancock Mutual Life Ins. Co., MA ................................................ 104.38 Lincoln National Life Ins. Co., IN .............................................................. 105.07 Massachusetts Mutual Life Ins. Co., MA ................................................ 104.58 Metropolitan Life Insurance Co., NY ........................................................ 104.35 Mutual Benefit Life Ins. Co, NJ ................................................................. 103.37 Mutual Life Insurance Co. of New York, NY ....................................... 103.34 Nationwide Life Insurance Co, OH ........................................................... 103.28 New England Mutual Life Ins. Co, MA .................................................. 103.33 New York Life Ins. and Annuity Corp, DE ............................................. 104.98 New York Life Insurance Co, NY .............................................................. 106.42 Northwestern Mutual Life Ins. Co, Wl ..................................................... 104.81 Principal Mutual Life Ins. Co, IA ................................................................. 104.33 Prudential Insurance Co. of America, NJ ................................................ 104.21 State Farm Life Insurance Co, IL .............................................................. 113.85 Travelers Insurance Company, CT ........................................................... 106.48 AVERAGE 25 LARGEST LIFE COMPANIES ....................................$104.32 HUNGARIAN REFORMED FEDERATION ....................................... $150.85 SurplUS FUndS (Including Capital, if any) 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 ....................................... $7.83 HUNGARIAN REFORMED FEDERATION .......................................... $57.48 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 ................................. $226.31 HUNGARIAN REFORMED FEDERATION ....................................... $338.34 Additional Society Strength The following ratios are Per $1000 of life insurance in force. They show further proof of financial strength and stability: Average This 25 Largest Society Life Companies Assets per $1000 .......................................$513.96 $158.29 Reserves per $1000 .................................... 301.45 83.67 Surplus per $1000 .......................................... 173.26 6.55 FINANCIAL STATEMENT SUMMARY AS OF DECEMBER 31, 1990 Admitted Assets Policy Reserves $22,685,871.00 $13,305,861.00 Liabilities Total Income $15,038,231.00 $2,379,556.00 Gross Surplus (Ind. Capital, if any) Insurance In Force $ 7,647,640.00 $44,139,000.00 'W/O Annuity Deposits Conclusion: Based on the financial results achieved in the year ended 1990, the analysis made of the above organization in comparing it with the aggregate averages of the 25 LARGEST COMPANIES in OUR OPINION is FAVORABLE.
