(MENAFN- PR Newswire)
The Next Step in Building a Family of Brands
MILWAUKEE, April 17, 2024 /PRNewswire/ -- Trusted Fraternal Life is thrilled to announce Woman's Life Insurance Society, headquartered in Port Huron, Michigan, is the first fraternal to declare its intent to join the organization and help build the
NextGen fraternal benefit society.
The announcement is a milestone in Trusted Fraternal Life's journey toward being the innovative leader in fraternal partnerships and consolidation.
"The pending merger of Woman's Life with Trusted Fraternal Life marks an exciting moment as we continue to redefine the future of fraternal life insurers," said President and CEO of Trusted Fraternal Life John Borgen. "This action demonstrates our commitment to foster innovation and growth within the fraternal life insurance sector, serve more middle-market 'Main Street' families, and make an even greater community impact across the country."
Woman's Life has about $200 million of assets and 23,000 members throughout the country (principally in the Great Lake's region). Those members are organized into 70 chapters who engage in local community outreach. The Woman's Life mission will continue as a brand of Trusted Fraternal Life.
"Woman's Life is merging with one of the strongest fraternals in the United States," said Woman's Life National President Chris Martin. "We'll have access to more products and services, advanced technology, and expanded distribution throughout the country. This is good for our existing members and future members who will join Trusted Fraternal Life under the Woman's Life brand."
Both fraternals are working toward a July 1, 2024 merger effective date, pending regulatory approval.
About Trusted Fraternal Life:
Trusted Fraternal Life's purpose is serving communities, providing financial security, and enhancing quality of Life. Its vision is to be the innovative leader in fraternal partnerships and consolidation, while growing existing business, and engaging more people to enjoy financially secure, purposeful lives. Created in March 2024 by Catholic Financial Life, Trusted Fraternal Life is committed to building the NextGen fraternal benefit society. The organization's financial strength rating was upgraded to an A with a stable outlook in 2023 by the Kroll Bond Rating Agency and it has been recognized as a Top Workplace ten years in a row. For more information, visit cfl/trustedfraternallife.
About Woman's Life:
Woman's Life Insurance Society was founded in Port Huron, Michigan in 1892 with a mission of helping women build financial security for themselves and their families and supporting community outreach. Woman's Life offers life insurance and annuities for women, men and children. Through the sale of these financial products, Woman's Life funds community projects held by its active members to benefit charitable organizations and individuals in need. Woman's Life was recognized as the Best Place to work in the Blue Water Area in 2023. For more information, visit WomansLife.
Contact:
Debbie
Michalak
T: (414) 278-6487
[email protected]
SOURCE Trusted Fraternal Life
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