Profits also rose for each of the four previous years, including a soaring increase in 2012 -- of nearly 81 percent -- and smaller rises in 2011, 2010 and 2009, as the global credit union insurer gradually recovered from recession-related losses of
The company's earnings picture has become more complex in recent years as
Since 2009, a diversification strategy to counter reduced market share due, in part, to industry consolidation has added new ventures including crop insurance for farmers and benefit plan management for companies outside the credit union sector.
Last year, strong operating results in lending, life and health, and auto/home products helped offset weather-related losses in the crop insurance business, company leaders said.
Strong investment gains also helped push the net income higher, they said.
More information about the debit side of the ledger, including operating expenses and claims totals, will be released after completion of a final audit in mid-March, company spokesman
Founded in 1935,
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