Value of Connections
Throughout Assurity’s 133-year history, we’ve been guided by a robust set of values and an enduring mission. Through a steadfast commitment to our principles and bold innovation, we're connecting past, present and future by deepening existing connections and forging new bonds with customers, distributors and the communities we call home.
A Message from Susie Keisler-Munro
Dear Members and Friends –
The poet William Wordsworth said, “Life is divided into three terms - that which was, which is, and which will be.”
As 2022 unfolded and I began my first year as President and CEO of Assurity, in what felt like the very beginning of the post-pandemic era, this concept and the fact that the three terms of which Wordsworth spoke are inextricably connected were top of mind.
In my new role, it was not uncommon this past year to be asked only about the future term or "that which will be." Questions like: “What big change initiatives do you have planned?” “What new strategy do you have for the company?” “How will you shake things up?” My reply to those oft-asked questions likely disappointed, having gone something like this: ”I am humbled to help guide Assurity this next little while. My priority is to ensure we sustain what should be unchanging, successfully tackle the challenges and opportunities at hand, and boldly imagine what is next.” ...
Although unintended, the barrage of such questions can leave you pondering whether the sole measure of leadership is the volume of change one can deliver at speed or how cleanly one can wipe the slate. Whereas the better assessment of leadership, it seems, is the discernment one has in recognizing the value of what came before, understanding the realities of what is, and imagining what should and could be. The connections between these three terms in the life of a company are powerful.
That which was, and has been since our humble beginning in 1890, is Assurity’s commitment to our mutual heritage, where the best interests of policyholders always come first by design in an organization grounded by the simple concept of people coming together to support each other in times of need. It is not out of fear or nostalgia that these principles persist. But what better North Star to have guided our path these past 133 years, to have brought us to this moment in time, and to be inspiring our future? Good and noble ideals endure.
The past deserves our reverence.
That which is for Assurity is a vibrant and growing organization of unquestioned financial strength, serving hundreds of thousands of customers who use our products to protect and provide for themselves and those they love. It is that which came before that allowed Assurity to emerge from the tragedy of a once-in-a-century pandemic stronger than ever while having helped a record number of people weather their own personal adversity during particularly challenging times. The realities of today lay bare what is required of us.
The here and now demands our attention.
That which will be for Assurity is a future rooted in our past, informed by our present, and inspired by what is possible. It compels bold thinking, creativity, and experimentation. Our vision includes improved access in new ways and places to the protection we offer, where our customer experience increasingly delights. Writing Assurity’s next great chapter is not about abilities in foresight or prophecy, but as Peter Drucker familiarized, in recognizing and readying the company for new opportunities and challenges brought about by trends and events, many of which have already happened.
The future expects keen awareness and an actionable vision.
As I reflect on my first year as Assurity’s President and CEO, I am grateful for that which was, encouraged by what is, and energized by what will be.
Sincerely,
Susan Keisler-Munro, FSA, MAAA
Chair, President and Chief Executive Officer
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We worked together to stretch past our goals in 2022. Here are just a few highlights from a stellar year:
Strengthening our future
Through prudent investments and constant stewardship, our surplus and AVR saw steady growth and reached a record $454 million.
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Meeting our goals
2022 brought business success with a new annualized premium increase of 15 percent year-over-year.
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Reaching further
Our network grew rapidly as we added more than 500 employer groups to our voluntary business, onboarded over 150 new direct-to-Assurity agency relationships, and partnered with more insurtech leaders.
Integrating new technology
We expanded our digital capabilities with QuickStart, allowing distributors to sell life and health products online via a customized platform.
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Protecting more people
We extended protection to more policy and certificate holders than ever and were there when they needed us by paying $142.8 million in claims.
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Becoming smarter, faster
Our core technology systems and infrastructure were upgraded with zero downtime for our customers.
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$282.8 million
Direct premiums & deposits
$2.6 billion
Total assets
$454 million
Total surplus & AVR
$33.9 million
Net income
Surplus & AVR*(as percentage of assets)
$23.3 billion
Life insurance in force
$9.8 million
Customer dividends paid
$142.8 million
Benefits paid to customers
605%
Risk-based capital ratio
Connecting to Community
We’re proud to fulfill our mission where we live and work. More than 70 percent of associates gave to the United Way during our annual campaign, in addition to providing financial support to dozens of local non-profits. Associates also volunteered over 100 work weeks of their time to help with deserving causes like mentoring children, coaching youth sports, delivering meals to the homebound, cleaning up local trails, donating blood, and stocking shelves at the food bank.
In Honor and Remembrance
Honoring Tom Henning
At the end of 2022, distinguished former President and CEO, Thomas Henning, ended his tenure as Chair of Assurity’s Board of Directors. His achievements and accolades are too numerous to mention and listing them does not do justice to their impact. Fortunate are those of us who worked alongside him for many years. Our company is stronger because of his leadership. We wish Tom health and adventure as he dives into this next chapter.
Remembering Bill Cintani and Steve Erwin
Since our last annual report, Assurity lost the service of two great men and leaders in the unexpected passing of longtime board members William Cintani and Steven Erwin. Both willingly gave their time, talent and intellect in championing Assurity’s mission. Our company is better for having had them in our midst, and we are better people for having had them in our lives.
Board of Directors
Susan L. Keisler-Munro, FSA, MAAA
Chair, President, CEO
Assurity Life Insurance Company
Lincoln, Nebraska
Ryan D. Downs
President
Unison
Springfield, Nebraska
Kathleen A. Farrell, PhD
Dean
College Of Business, University Of
Nebraska-Lincoln
Lincoln, Nebraska
David S. Graff
CEO
Hudl
Lincoln, Nebraska
Caren L. Hamilton
Auto Dealership Executive
Bellevue And Kearney, Nebraska
Marc E. Lebaron
Chairman & CEO
Lincoln Industries
Lincoln, Nebraska
Angela L. Muhleisen
President & CEO
Union Bank & Trust Company
Lincoln, Nebraska
Lyn Wallin Ziegenbein
Executive Director Emerita
Peter Kiewit Foundation
Omaha, Nebraska
Management Team
Senior Leadership
Susan L. Keisler-Munro, FSA, MAAA
Chair, President, CEO
Todd W. Reimers, CLU, LLIF
Senior Vice President
Chief Distribution Officer
Susan M. Becker, PHR, SHRM-CP, FLMI
Vice President
Human Resources
Tara D. Benson, FSA, MAAA
Vice President
Operations
Kevin G. Faltin, CPA
Vice President
Chief Financial Officer & Treasurer
Jill D. Fiddler
Vice President
General Counsel & Secretary
David D. Lockwood, CFA
Vice President
Chief Investment Officer
Eric L. Otterstein
Vice President
Chief Information Officer
Scott A. Zagurski
Vice President
Marketing & Digital Experience
Sales Vice Presidents
UnYoung Botelho
John R. “Jack” Douglas
Nathan L. Driskill
Senior Directors
Douglas I. Blum
Kevin W. Hammond
Steven H. Hill
Nicholas A. Stremlau
Victor D. Weber
Brett D. West
Directors
Steven J. Coleman
Eunice J. Cramer
Amanda L. Crume
Jason L. Damme
Amanda A. Dutton
Heith L. Fulmer
Michael J. Harshman
Timothy S. Janousek
Mitch K. Lee
Mary L. Lenners
Jenny L. Oelke
Susan M. Otterstein
Bruce K. Scheiber
Apandeep Singh
Bridget E. Tupa