To All Members:
During the last few weeks, we have witnessed significant volatility in the U.S. and global equity markets. This volatility is especially disheartening after 10 years of growth and the all-time highs achieved earlier this year. FCSLA has very limited exposure to the stock markets with less than one percent of our total assets invested in stocks. Our investment strategy is to invest in investment grade corporate bonds that are more secure and safer than stocks. This short-term volatility only slightly affects us as FCSLA has a long-term investment outlook and invest in bonds that have maturities of 10, 20 and 30 years into the future.
FCSLA has a strong balance sheet of investment grade bonds and amble cash to weather this current volatility. FCSLA’s total assets exceed $1 billion and our surplus is over $107 million. We have an AM Best rating of A- (Excellent) and a solvency ratio of 112%. This current challenge is just one of the many challenges FCSLA faced and conquered over the last 128 years.
Stephen C. Hudak
National Treasurer (CFO)
To Agents and Recommenders:
We at FCSLA are committed to doing our part to contain the coronavirus in this national emergency. Our home office is closed as of March 20, 2020 until further notice. You are a top priority and we are here to service you via a remote work environment. Please contact us via phone or e-mail during our regular hours of 8:00 am to 4:30 pm EST.
We take our commitment to you and our members very seriously. During unprecedented times like these, we are grateful for strong relationships. Our new business team is available to address your questions. Please do not hesitate to reach out to us at FCSLA. Thank you for your business and as we navigate these uncertain times.
Our Regional Sales Managers are also available to assist you and I have listed their contact information below:
Regional Sales Manager - Pacific Coast/Southwest
James J. Donovan, FIC
Regional Sales Manager – Rocky Mountain
Amy L. Hull
Regional Sales Manager – Midwest
James M. Morsovillo, FICF
Regional Sales Manager – Mid Atlantic/Northeast
John J. Gonsiorek, FICF, CSA, CLTC, LUTCF, CAS
We understand this situation may be disruptive to your business and we want you to know we are ready to serve your needs and weather this challenge. FCSLA remains focused on delivering dedicated service and strong products. We’re all in this together!
Kimberly A. Graham
National Secretary (COO)