With losses from catastrophes held low and growth in its core business units, CUNA Mutual Group earned $217 million in 2015, an increase of 5.3 percent from its $206 million in earnings the year before.
It was the fifth consecutive year the Madison-based mutual insurance holding company saw profits rise.
CUNA Mutual reported $3.13 billion in revenue in 2015, up slightly from $3.08 billion the previous year, with the company's TruStage life, health, auto and home insurance and its wealth management business leading the way.
Total adjusted capital of its lead life insurance company, CMFG Life Insurance Co., was $2.2 billion in 2015, 13 percent higher than 2014 levels, while the company paid $1.1 billion in claims and dividends to policyholders and their beneficiaries. CMFG's surplus was $2.7 billion at year-end, flat from the year before.
"CUNA Mutual Group is financially strong and growing," said Robert Trunzo, president and CEO.
"It's clear we're in an industry of shifting consumer decision-making, so using our resources to align with the shifting needs of the marketplace and our customers remains our top priority," he said.
Established in 1935, CUNA Mutual Group's products serve credit unions and their members. The company has about 1,900 employees in Madison and 3,700 worldwide.