We’re building brighter financial futures

The widening wealth disparities in the U.S. — combined with the growth of multicultural populations that often have worked around or outside of traditional financial systems — have fed into the trend of fewer households protecting themselves and their possessions.¹

There is a clear market need for the protection TruStage offers. To achieve our mission of making a brighter financial future accessible to everyone, we must make it affordable for people when they need it most.

That requires us to recognize that what’s best for our partners and customers may not always be the easiest route for us. In 2024, we leveraged our past success and built upon our strong foundation, which will serve as a springboard for future success, innovation and value creation.

Despite challenging market conditions and extreme weather events that impacted the communities we serve, we delivered strong performance across our diverse product portfolio in 2024 by:

• Generating more than $5.6 billion in total revenue, including more than $4.5 billion in product revenue
• Delivering on our promises with more than $2.5 billion in benefits paid out to our customers in their time of need
• Producing over $213 million in net income

To become the most trusted and accessible provider of financial protection to middle-market consumers, our business decisions must continue to reflect our commitment to significantly increase our consumer relationships while generating the necessary returns to fulfill our promises. Our results show we’re on a solid path.

Doing what’s right — keeping our principles and values at the heart of all we do — is the right way to do business. No matter the political or economic environment, we are committed to honoring our inclusive heritage and take pride in scoring 100 on the Human Rights Campaign’s Corporate Equality Index.

We believe that doing what’s right means doing good for our customers and communities. In 2024, we:

• Responded to the devastation from Hurricanes Helene and Milton by mobilizing disaster recovery teams, rallying to provide immediate on-the-ground support to credit unions and their employees and donating $160,000 to relief efforts.
• Invested more than $3.5 million in more than 65 nonprofit organizations and social impact projects across our geographic footprint through the TruStage Foundation.
• Led a Community Giving Campaign in which employees pledged nearly $539,000 toward causes they care about, with funds to be distributed via payroll contributions throughout 2025. The TruStage Foundation will match pledges that support our commitment to economic mobility.
• Logged more than 8,300 employee volunteer hours of hands-on support for nonprofit organizations.

Continuing our commitment to expand financial access and protect the unbanked and underserved, we remain steadfast in our efforts to advance the credit union movement. Credit unions provide vital financial education and resources to middle-market consumers. Their priorities align with our priorities. That’s why we:

• Supported the health of the credit union system through our advocacy work and contributions to support interchange fees and protect the credit union tax status as not-for-profit financial cooperatives
• Contributed $159 million to the credit union movement over the past five years, including a $250,000 donation toward the crucial fight to retain interchange fees in 2024
• Renewed our storied partnership with America’s Credit Unions as their System Partner, representing our shared commitment to advancing the well-being of credit unions and their members
• Became the first legacy partner of the African American Credit Union Coalition, supporting leadership development, long-term small credit union sustainability, and wealth building and community impact programs

Making meaningful progress toward our long-term goals while staying true to our purpose can only happen with the right people. And our people are our greatest asset.

In 2024, the TruStage team:

• Maintained partnerships with 93% of credit unions in the U.S.
• Became a Top 5 life insurer in the U.S. by policy count.
• Was named by Forbes as one of America’s Best Insurance Companies 2024 based on survey responses around customer recommendations, satisfaction and loyalty.
• Was named an Insurance Innovator, thanks to our launch of TruStage™ Payment Guard — the industry’s first insurance product designed for digital lenders.
• Continued to foster a robust credit union fintech ecosystem, with investments of more than $400 million into more than 65 startup companies since 2016. Through this effort, we have created more than 1,800 credit union and portfolio company partnerships.
• Grew the number of consumers we protect through technology-driven partnerships with Polly and Ethos.