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CUNA Mutual Reassures Company's Operational Strength

MADISON, Wis. -- CUNA Mutual Group is reassuring the industry that its operating performance is strong thanks in part to excess capital and revenue growth.

By Michelle A. Samaad | Updated on September 26, 2008

MADISON, Wis. — CUNA Mutual Group is reassuring the industry that its operating performance is strong thanks in part to excess capital and revenue growth.

The company said its exposure to AIG, Freddie Mac, Fannie Mae, Lehman Brothers, and Merrill Lynch is less than 0.1% of its general account. That percentage excludes its investments in Freddie Mac and Fannie Mae agency instruments. CUNA Mutual also reported that it had $8.3 billion of cash and investments in its general account at the end of 2007 and it now contains more than $800 million of government and agency securities “as well as a very significant cash position.”

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