Woodmen revenue shows 4.2 percent gain for 2012

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Posted: Thursday, March 28, 2013 12:00 am

Woodmen of the World Life Insurance Society reported Wednesday that its 2012 revenue totaled $1.24 billion, up 4.2 percent from 2011, with its assets gaining 1.9 percent to $9.52 billion as of Dec. 31.

Woodmen’s net gain for 2012 before refunds to its members was $91 million, down from $126.4 million in 2011.

The Omaha-based fraternal insurance society said it collected $807 million from its members for insurance premiums and annuities, up 8.1 percent from 2011, while investment income was up slightly to $419 million.

Life insurance in force at the end of 2012 totaled $36.4 billion, up from $35.8 billion a year earlier.

Woodmen set aside $390 million in 2012 for future benefit payments, up 6.1 percent from 2011. The company had $110 worth of assets for each $100 of liabilities at year’s end, compared with $109 a year earlier.

Contact the writer: 402-444-1080, steve.jordon@owh.com

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