The Independent Order of Foresters has announced an increase in its dividend interest rate to 6.00% for eligible participating certificate holders in the US, up from 5.90%, effective May 1.
This increase reflects another strong year from an investment perspective, showcasing the organization’s well-diversified and high-performing portfolio.
“This increase in the dividend interest rate demonstrates our strong commitment to our members and highlights our financial position,” said Alvin Sharma, global chief financial officer.
“Our ‘A’ (Excellent) rating from AM Best for the past 24 consecutive years underscores our financial strength and stability. We are grateful for our members’ continued trust and confidence in us to help protect their financial future.”
The change comes after Foresters Financial marked its 150th anniversary last year. CEO Matt Berman told Insurance Business that the organization has rejuvenated its infrastructure and product offerings as it prepares for long-term growth. The upgrades include using advanced analytics tools, including data analytics, artificial intelligence, and machine learning, to streamline processes, improve underwriting efficiency, and enhance decision-making capabilities.
As part of its celebrations, the company also donated $50,000 to You Can Rise 2 (YCR) in Edmonton, Alberta. The donation is part of the organization’s member-nominated “BIG Give” contest, which supports charitable institutions and programs across Canada, the US and the UK.
Founded in 1874, Foresters Financial is a member-focused, not-for-profit fraternal benefit society. It offers a range of products and services, including life insurance, annuities and investment solutions. It is headquartered in Toronto, Canada, with operations in the US and UK.
