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TruStage's Performance in 2024: Resilience Amid Challenges

In 2024, TruStage has showcased significant financial strength and resilience despite the turbulent conditions prevalent in the insurance sector. Factors such as extreme weather events and an unstable economic landscape challenged many organizations, yet TruStage not only navigated these hurdles but also reported robust financial results across its diversified portfolio of products and solutions.

The company concluded the year with over $5.6 billion in total revenue, alongside a notable net income exceeding $200 million and more than $37 billion in assets under management. These figures highlight TruStage's ability to manage its resources effectively, ensuring that it remains a key player in the market. Notably, credit rating agencies AM Best and SP reaffirmed TruStage's ratings, confirming its position as both financially healthy and stable, which greatly boosts customer confidence.

The guiding philosophy behind TruStage is rooted in the principle of 'people helping people,' a vision that has been their cornerstone for nearly 90 years. CEO Terrance Williams remarked, “No matter the economic or environmental headwinds we face, we are committed to our customers.” In 2024, the TruStage team honored this commitment by delivering over $2.5 billion in total benefits across its 39 million customer relationships.

Major Milestones in 2024

TruStage achieved several significant milestones this past year:

• - Life Insurance Growth: The company earned recognition as the fifth largest writer of life insurance in the U.S. by policy count, illustrating the increasing trust placed in its products by consumers.
• - Partnerships with Credit Unions: Maintaining a stellar relationship with 93% of U.S. credit unions, TruStage continues to strengthen its collaborative efforts with these entities, ensuring that consumers have seamless access to necessary insurance solutions.
• - Recognition in Innovation: Recognized with the 2024 Celent Model Insurer Award for Innovation Execution, TruStage successfully launched its Payment Guard Insurance. This notable product is the first of its kind designed specifically for digital lenders, highlighting the company’s commitment to innovation in a rapidly evolving financial landscape.
• - Tech-Driven Expansion: Strategic partnerships with technology firms such as Polly and Ethos facilitated the extension of insurance coverage to a wider consumer base, leveraging technological advancements to enhance customer experience.
• - Investment in Fintech: The TruStage Ventures initiative also saw growth, with an impressive portfolio of over 65 fintech companies across various sectors of financial services.
• - Solid Results Across Segments: TruStage consistently delivered strong performance across all business segments and its investment portfolio, reflecting its strategic financial planning and execution.

Community Commitment

Beyond financial achievements, TruStage holds a deep-rooted commitment to community support through the TruStage Foundation. In 2024, the foundation responded proactively to the devastation brought by Hurricanes Helene and Milton, mobilizing disaster recovery teams and contributing $150,000 to relief efforts in affected regions. The Foundation also donated over $3.5 million to communities, focusing on enhancing economic mobility.

Additionally, employees played a crucial role in community support, raising nearly $539,000 and registering over 8,300 volunteer hours while collaborating with more than 65 non-profits that benefitted from the Foundation's funding.

Looking Forward

As TruStage moves into 2025, the company is poised to build upon its strong financial trajectory and persistent commitment to its customers. The insights gained and partnerships cultivated during 2024 serve as a solid foundation for future initiatives aimed at enhancing both financial security for consumers and community support. TruStage continues to reinforce its belief that a brighter financial future is accessible to everyone, positioning itself as a beacon of stability and innovation in the insurance industry. With its enduring principles and growing influence, TruStage is set to further its legacy for years to come.

For additional details on TruStage's 2024 performance, you can visit their official website or check their comprehensive annual report.

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About TruStage: TruStage is well-regarded as a financially stable provider of insurance, investment, and technology solutions, dedicated to the concept of community support through equitable financial services. Its mission is to empower individuals to make informed financial decisions at any life stage. Visit TruStage.com for more information.