Issue link: http://read.dmtmag.com/i/121911
Annual Statement at a Glance Surplus Surplus is the excess funds that are left over after all of the Society's obligations are met. When you look at 2008 you will notice a decrease that was due to the financial crisis in the country. Since that period the surplus has continued to grow, until 2012. In 2012, surplus went down because management invested in growing the business through adding new insurance producers, new products and new members. It is anticipated that this investment will continue to show an increase in surplus in the future. Direct Life and Annuity Premiums Our top products for 2012 were Annuities followed by Ordinary Whole Life. In 2012, NCSF offered a very competitive interest rate that contributed to the higher annuity sales. The graph shows that the annuity sales were over 5 times more than 2011. Sound Investing - NCSF is a fraternal not-for-profit organization. Monies made by our Society are first reserved to pay members' certificate obligations and any remainder is channeled back to our members, their parishes, Catholic schools, local communities and individuals/families in need. Solvency Ratio - The NCSF solvency ratio measures the financial soundness of a business and its ability to meet short-term obligations as they come due. 24 National Catholic Forester — 2012 Annual Report