MADISON, Wis. — CUNA Mutual Group said it recently earned strong ratings from Fitch Ratings on its operational restructuring.

The “AA-” (Very Strong) rating and “Stable” outlook apply to the principal companies of CUNA Mutual Insurance Society: CUMIS Insurance Society, Inc., a property and casualty subsidiary and affiliate CUNA Mutual Life Insurance, which is expected to merge with CUNA Mutual Insurance Society by year-end.

In reaffirming the “AA-” rating, Fitch recognized CUNA Mutual's strong relationships and market position within the credit union marketplace and good overall balance sheet fundamentals, CUNA Mutual said. Fitch also identified concern over the decreasing number of credit unions and increased price competition among insurers serving the credit union marketplace.

“We find it encouraging that Fitch views favorably our operational restructuring,” said Jeff Holley, executive vice president/CFO, CUNA Mutual. “Our three-year transformation is focused on preparing the company for the future–including positioning CUNA Mutual for expansion into new markets that can support growth for the company and credit unions.

Fitch said CUNA Mutual's improvement in year-to-date 2007 results are “a reflection of better commercial fidelity product results, investment returns and direct financial results from the operational restructuring.”

Instant Insights /

Fitch Affirms CUNA Mutual's Financial Strength

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