LONDON–(BUSINESS WIRE)– AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Halyk-Life, Life Insurance Subsidiary Company of the Halyk Bank of Kazakhstan, JSC (Halyk-Life) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Halyk-Life’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management (ERM).
Halyk-Life’s balance sheet strength is underpinned by its risk-adjusted capitalisation, which is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). BCAR scores were comfortably above the minimum required level for the strongest assessment at year-end 2024, based on audited IFRS 17 financial statements. BCAR scores are expected to remain at the strongest level in 2025, and prospectively, supported by solid operating results and a dividend policy that allows for sufficient earnings retention to support the company’s growth plans. Halyk-Life’s investment portfolio is relatively conservative by asset class, with investment-grade fixed-income securities accounting for more than 80% of its investment holdings. An offsetting balance sheet strength factor is the material exposure to the high financial system risk in Kazakhstan.
Halyk-Life has a track record of strong operating performance, supported by prudent risk selection and steady investment income amid intense market competition. In 2024, the company reported a return on equity of 57% (2023: 54%), as calculated by AM Best, which should be considered in the context of the high inflationary environment in Kazakhstan. Based on unaudited preliminary results, Halyk-Life reported overall pre-tax earnings of KZT 93.0 billion for 2025 (2024: KZT 93.0 billion). AM Best expects the company to maintain strong operating profitability.
Halyk-Life is a leading insurer in Kazakhstan’s life insurance market, ranking No. 2, as measured by gross written premium in 2025, and No. 1 by assets and profit. However, Halyk-Life’s operations are limited to its domestic insurance market, which is small by international standards. The company has a competitive advantage as it successfully leverages the relationship with its parent JSC Halyk Savings Bank of Kazakhstan JSC – the largest bank in the country.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York (New York, NY), together referred to as Symetra Life Group. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of Symetra Life Group’s parent, Symetra Financial Corporation. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in Bellevue, WA, unless otherwise specified.
The ratings reflect Symetra Life Group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
AM Best views Symetra Life Group’s risk-adjusted capitalization as very strong, as measured by Best’s Capital Adequacy Ratio (BCAR), with financial support afforded by the ultimate parent, Sumitomo Life Insurance Company. The ultimate parent continues to support the group’s strategic initiatives with capital when needed. This was evident in the successful acquisition of Dearborn Group’s life and disability business through a reinsurance transaction. Symetra Life Group has shown continued growth in premiums over the years in its life and retirement businesses, and with the recent acquisition, its workforce benefits division will accelerate in growth.
Offsetting these strengths is Symetra Life Group’s strong top-line growth, which can put a strain on capital and surplus, as well as the group’s increasing reliance on affiliated offshore reinsurance that may need additional support if growth continues at this pace.
AM Best views Symetra Life Group’s ERM as being matched to the scope of its operation, while adjusting to changing market conditions. Continued product innovation and its favorable business profile continue to be a positive factor in its overall ratings.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has assigned a Financial Strength Rating of A++ (Superior) and a Long-Term Issuer Credit Rating of “aa+” (Superior) to Park Avenue Life Insurance Company (PALIC) (Wilmington, DE). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect PALIC’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and very strong enterprise risk management (ERM).
The ratings also reflect implicit support from PALIC’s parent company, Guardian Life Insurance Company of America (Guardian) (New York, NY). PALIC is not actively writing new business but the company is licensed in 48 states and the District of Columbia, and it has access to a well-diversified product portfolio and a strong distribution network to fuel new business. The companies are backed by an experienced management team with strong industry expertise. PALIC is expected to continue Guardian’s strategic growth objectives in the U.S. individual annuity and life insurance markets, where the group has focused traditionally on diversifying profitable growth with its core participating whole life insurance and annuity products. PALIC is expected to rely on its parent for services as it expands its business profile. The company is projecting earnings strain in the short term as it incurs additional general expenses and direct commissions; however, this is partially mitigated by use of reinsurance, and over the medium term, earnings are projected to contribute measurably toward overall enterprise earnings.
PALIC’s risk-adjusted capitalization is assessed at the very strong level, as measured by Best’s Capital Adequacy Ratio (BCAR); however, overall balance sheet metrics are projected to strengthen under Guardian’s capital and business plans. Liquidity is considered adequate to fund anticipated short-term obligations of the current blocks of business held on the company’s balance sheet. Additionally, AM Best anticipates that the parent company, at its discretion, will aid in maintaining the risk-adjusted capital and liquidity targets of PALIC if needed.
PALIC historically has had nominal market share in competitive markets, which exposes the company to some execution risk related to increasing business operations. However, the execution risk is mitigated at PALIC is fully integrated with Guardian’s underwriting, investment, reinsurance strategy and other ERM capabilities. AM Best will monitor PALIC’s future capitalization against its growth initiatives, and its strategic importance and overall earnings contribution to Guardian.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Columbus, OH – Nationwide has reached an agreement with MassMutual to reinsure a block of fixed Universal Life insurance policies, comprising more than 30,000 policyowners. The transaction, which is expected to close in Q2 2026, has a total face value of nearly $16 billion and will increase Nationwide Financial’s reserves by $6 billion. Nationwide expects to be able to take on this additional business without adding staff.
“This agreement represents a tremendous opportunity to put our strong capital position to work and grow our life insurance business, which was designated the third largest writer of life insurance in 2025,” said Kirt Walker, CEO of Nationwide. “Bringing together two strong brands allows us to protect more Americans with life insurance.”
MassMutual will continue to administer these policies and remain the point of contact for policyowners.
“This deal marks a continued step forward for our life insurance business, which has established itself as a strong and stable industry leader with a deep portfolio of protection solutions,” said Craig Hawley, president of Nationwide Financial.
Sidley Austin LLP served as Nationwide’s legal counsel on the transaction.
SINGAPORE–(BUSINESS WIRE)– AM Best has maintained its outlook on the Philippines’ non-life insurance segment at stable, citing in part robust growth prospects for the industry driven by economic expansion and a pipeline of large domestic infrastructure projects.
In its new Best’s Market Segment Report, “Market Segment Outlook: Philippines Non-Life Insurance,” AM Best also takes note of the country’s stabilised reinsurance capacity, the emergence of insurance pools to support underwriting capacity at the primary level, and a broadly supportive pricing environment. Another supporting factor is investment income, which is expected to remain bolstered by a robust domestic interest rate environment.
However, offsetting factors include macroeconomic uncertainty, a tighter monetary policy stance, and potential financial market volatility stemming from adverse geopolitical developments. “Another key potential headwind is the increasingly volatile weather conditions, which are placing significant pressure on non-life insurers and contributing to greater volatility in underwriting results,” said Susan Tan, senior financial analyst at AM Best and one of the authors of the outlook.
The Philippines’ economy is expected to grow at a rate of 4.1% in 2026, according to the International Monetary Fund. This marks a 1.5% decrease from a projection that the organisation issued in January, reflecting the impact of the US/Israel-Iran conflict on the Philippines’ reliance on Middle East oil imports.
The country’s non-regulatory landscape continues to develop, with a focus on financial resilience, transparency, and stricter accountability for public infrastructure risk. The mandatory adoption of Philippine Financial Reporting Standard 17 (PFRS 17), the Philippine equivalent of IFRS 17, remains on track for implementation on Jan. 1, 2027. In a move expected to have positive implications for capital management, the country’s Insurance Commission has expanded its definition of “admitted assets” to include real estate investment trusts (REITs) and selected structured products. This is expected to provide insurers with greater flexibility to meet their risk-based capital requirements.
According to the report, the Philippines’ non-life market continues to undergo pricing recalibration, particularly in property lines, driven by the need to address persistent inflation, rising claims costs, and the increasing frequency and severity of climate-related risks. “As a result, insurers are adopting more disciplined underwriting practices, emphasising stricter risk selection and data-driven pricing to better align premiums with underlying exposures,” said Victoria Ohorodnyk, senior director, AM Best.
While premium growth is positive, profitability remains exposed to volatility due to the country’s high exposure to natural catastrophes, such as typhoons, floods and earthquakes. The increase in net retention of catastrophe risks by primary insurers over recent periods has been a strategic response to balance high reinsurance costs with profitability targets.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
RENO, Nev.–(BUSINESS WIRE)–
U-Haul Holding Company (NYSE: UHAL, UHAL.B), parent of U-Haul International, Inc., North America’s largest “do-it-yourself” moving and self-storage company will participate in the Bank of America Self-Storage Virtual Conference on Thursday, May 28, 2026. Jason Berg, Chief Financial Officer, will participate on the Development and Supply Panel at the conference.
About U-Haul Holding Company
U-Haul Holding Company is the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. U-Haul is in the shared use business and was founded on the fundamental philosophy that the division of use and specialization of ownership is good for both U-Haul customers and the environment.
About U-Haul
Since 1945, U-Haul has been the No. 1 choice of do-it-yourself movers with a network of over 25,000 locations across all 50 states and 10 Canadian provinces. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our patented Live Verify technology. Our customers’ patronage has enabled the U-Haul fleet to grow to approximately 204,800 trucks, 136,600 trailers and 42,000 towing devices. U-Haul is the third largest self-storage operator in North America and offers 1,136,000 rentable storage units and 99.0 million square feet of self-storage space at owned and managed facilities. U-Haul is the largest retailer of propane in the U.S., and continues to be the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul has been recognized repeatedly as a leading “Best for Vets” employer and was recently named one of the 15 Healthiest Workplaces in America.
LONDON–(BUSINESS WIRE)– AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” (Fair) from “bb” (Fair) and affirmed the Financial Strength Rating of B (Fair) of Life Insurance Corporation (International) B.S.C. (c) (LICI) (Bahrain). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect LICI’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and weak enterprise risk management (ERM). The ratings also reflect rating enhancement, in the form of lift, from its ultimate shareholder, the Republic of India.
The upgrade to the Long-Term ICR reflects stability in the company’s risk-adjusted capitalisation over the recent years, which was comfortably within the strongest level in 2025, as measured by Best’s Capital Adequacy Ratio (BCAR), and the increase in its capital and surplus. AM Best expects LICI’s BCAR to remain at the strongest level, driven by its conservative investment strategy and sustained internal capital generation.
LICI’s operating performance is adequate, albeit subject to some volatility, primarily due to movements in interest rates. The company has reported a three-year (2023-2025) average return-on-equity ratio of 8% under IFRS 17, with the performance primarily driven by investment results. The underwriting results in 2025 were negatively impacted by the establishment of a provision for future bonuses on participatory products, in line with the reporting requirements. AM Best expects LICI’s operating performance to remain adequate over the medium term.
LICI benefits from its niche market position, mainly targeting India’s expatriate community in the Gulf Cooperation Council countries by leveraging the Life Insurance Cooperation of India group’s strong brand and the portability of its policies back to India. Nonetheless, the company’s profile has been decreasing for the past several years following its strategic shift from traditional endowment products in favour of less capital-intensive unit-linked products. AM Best will continue to monitor management’s execution of its strategic growth plans.
LICI’s ERM framework is assessed as weak, which has been evident through poor capital management capabilities in the past and material restatements of the 2023 financial statements under IFRS 17. Historically, the company’s risk management has proven to be more reactive than proactive, with remedial actions having taken extended periods of time to be executed. AM Best acknowledges that the company has largely resolved its capital management and IFRS 17 reporting challenges and expects LICI to continue to formalise and enhance its risk management framework and capabilities.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Featuring U.S. Soccer’s Tyler Adams, Tim Ream and Matt Turner, the series celebrates the mentors, family members and communities who helped turn their dreams into success
NEW YORK–(BUSINESS WIRE)–
New York Life today announced the launch of “The Assist,” a short-form docuseries that looks beyond performance on the field to the people who made it possible. The series, which debuted at www.newyorklife.com/theassist features USMNT players Tyler Adams, Tim Ream and Matt Turner alongside the coaches, mentors, and family members who believed in them early and helped shape their paths to the world stage.
“I wouldn’t be where I am today without the many coaches, mentors, teammates and family members who believed in me on this journey,” said Tim Ream, a captain of the USMNT. “I’m proud to be part of New York Life’s ‘The Assist’ because it honors those relationships and highlights the importance of having a strong support system to help you achieve your dreams.”
“The Assist” docuseries includes:
Tyler Adams reconnecting with former teammate Bradley Wright-Phillips, who set the standard when Adams first entered a professional locker room as a 15-year-old rookie. That friendship and deep respect is also evident in Adams’ relationship with his brothers, who pushed each other to be better.
Tim Ream’s return to the St. Louis warehouse where coaches Tommy Howe and Kevin Kalish built the fundamentals that still define his game today. Away from the field, Ream credits his wife, whose perspective and support have helped him sustain one of the longest careers in U.S. soccer.
Matt Turner’s journey from walk-on goalkeeper to international star, with the support of coach Javier Decima, who helped Turner see his own potential long before he could see it himself. Off the pitch, Turner credits his sisters, who pushed him to get in goal and continued to believe in him all the way to the world stage.
Leading up to and during the international tournament, “The Assist” will also be activated throughout a series of community events, clinics and other experiences celebrating the USMNT and supporting the sport’s continued development at all levels. New York Life has also committed $15 million over three years to partnering with organizations developing the next generation of coaches and mentors through the New York Life Foundation’s Coaching the Future initiative.
“The Assist” is an expression of New York Life’s “More powerful, together” brand promise and reflects the company’s belief that guidance-led financial planning and the right advisor relationship, like the right coach, can change the trajectory of a life.
“At New York Life, we know the biggest wins, on the field or in life, are rarely accomplished alone,” said Aaron Ball, executive vice president and head of the Foundational Business at New York Life. “That belief is at the heart of our brand and reflected in what our 12,000 agents and advisors deliver every day: guidance, partnership, and the kind of ‘assist’ that helps people move forward with confidence. ‘The Assist’ is a powerful expression of how the right support from a trusted advisor can help our clients achieve more together.”
Content from “The Assist” will continue to be released across New York Life’s owned and social platforms in the coming weeks, surrounding this summer’s competition.
ABOUT NEW YORK LIFE
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest1 mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, disability income insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.2
1Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 9/30/2025. For methodology, please see https://fortune.com/company/new-york-life-insurance/.
2Individual independent rating agency commentary as of 10/28/2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+).
ABOUT U.S. SOCCER
Founded in 1913, U.S. Soccer, a 501(c)(3) nonprofit, is the official governing body of the sport in the United States. Our vision is clear; we exist in service to soccer. Our ambition is to ignite a national passion for the game and elevate its power to unite, inspire, and uplift. We believe soccer is more than a sport; it is a force for good. We are focused on three areas: U.S. Soccer Everywhere, making soccer the #1 played sport in every community in America; U.S. Soccer is Yours, ensuring everyone feels ownership of soccer’s future in the U.S., and U.S. Soccer Success, winning major tournaments, including World Cups. Together, the future of the game is ours to build. For more information, visit ussoccer.com/ourvision.
RENO, Nev.–(BUSINESS WIRE)–
U-Haul Holding Company (NYSE: UHAL, UHAL.B), parent of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company, today reported net earnings available to shareholders for the year ended March 31, 2026 of $83.1 million compared with $367.1 million for the same period last year.
For the quarter ended March 31, 2026, the Company reported net losses available to shareholders of ($127.8) million compared with net losses of ($82.3) million for the same period last year.
“This is the second time in recent years we have had a real loss in this quarter,” stated Joe Shoen, Chairman of U-Haul Holding Company. “The issues with loss on disposal of rental equipment are working themselves through. CapEx on rental trucks will likely be down this time next year helping moderate fleet depreciation. Liability cost growth will normalize, continuing to vary with fleet size and growing with inflation. We are pushing a bow wave of costs associated with built but not rented storage units. These are well located and will rent. Construction of additional storage units has been declining for several months, but until we rent more than we add, these costs will remain an increasing drain. We are increasing our dealer locations in both the US and Canada to better serve the customer. Our relations with our customer base remain solid.”
Highlights of Fiscal Year and Fourth Quarter 2026 Results
Moving and Storage earnings from operations, before consolidation of the equity in earnings of the insurance subsidiaries, decreased $39.9 million compared to the fourth quarter of fiscal 2025 and for the full year decreased $295.5 million compared to fiscal 2025.
Losses from the disposal of retired rental equipment accounted for $2.1 million for the fourth quarter and $117.6 million for the full year of the decrease while fleet depreciation expense increased $40.6 million for the fourth quarter and $186.6 million for the full year. Liability costs decreased $1.8 million for the quarter and increased $76.4 million for the full year, all compared with the fourth quarter and full year of fiscal 2025.
Moving and Storage earnings before interest, taxes, depreciation and amortization adjusted (EBITDA) increased $5.7 million to $223.0 million compared to the fourth quarter of fiscal 2025 and for the full year ended March 31, 2026 increased $26.1 million to $1,645.9 compared with fiscal 2025.
Self-storage revenues increased $16.3 million, or 7.1%, in the fourth quarter of fiscal 2026 compared with the fourth quarter of fiscal 2025 and for the full year increased $74.5 million, or 8.3%, compared with fiscal 2025.
Same store occupancy decreased 5.4% to 86.1%, revenue per foot increased 6.5%, and the number of locations qualifying for the pool increased by 55.
During the fourth quarter of fiscal 2026, we added 12 new locations with storage and 1.0 million net rentable square feet (NRSF).
We have approximately 11.7 million NRSF in development or pending.
Self-moving equipment rental revenues increased $11.7 million, or 1.6%, in the fourth quarter of fiscal 2026 compared with the fourth quarter of fiscal 2025. We finished the full year up $86.4 million, or 2.3%, compared with fiscal 2025. One-way transactions increased, while revenue per transaction was flat compared to fiscal 2025. In-town revenue per transaction grew compared to fiscal 2025.
Cash and credit availability at the Moving and Storage operating segment was $1,479.4 million and $1,347.5 million as of March 31, 2026 and 2025, respectively.
On May 22, 2026 the U-Haul Holding Company Board of Directors authorized a $350 million share repurchase plan across both classes of shares.
On March 4, 2026, we declared a cash dividend on our Non-Voting Common Stock of $0.05 per share to holders of record on March 16, 2026. The dividend was paid on March 27, 2026.
Our latest Supplemental financial information is available at investors.uhaul.com.
U-Haul Holding Company will hold its investor call for fiscal 2026 on Thursday, May 28, 2026 at 8 a.m. Arizona Time (11 a.m. Eastern). The call will be broadcast live over the internet at investors.uhaul.com. To hear a simulcast of the call, or a replay, visit investors.uhaul.com.
About U-Haul Holding Company
U-Haul Holding Company is the parent company of U-Haul International, Inc., Oxford Life Insurance Company, Repwest Insurance Company and Amerco Real Estate Company. U-Haul is in the shared use business and was founded on the fundamental philosophy that the division of use and specialization of ownership is good for both U-Haul customers and the environment.
About U-Haul
Since 1945, U-Haul has been the No. 1 choice of do-it-yourself movers with a network of over 25,000 locations across all 50 states and 10 Canadian provinces. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our patented Live Verify technology. Our customers’ patronage has enabled the U-Haul fleet to grow to approximately 204,800 trucks, 136,600 trailers and 42,000 towing devices. U-Haul is the third largest self-storage operator in North America and offers 1,136,000 rentable storage units and 99.0 million square feet of self-storage space at owned and managed facilities. U-Haul is the largest retailer of propane in the U.S., and continues to be the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul has been recognized repeatedly as a leading “Best for Vets” employer and was recently named one of the 15 Healthiest Workplaces in America.
Certain of the statements made in this press release regarding our business constitute forward-looking statements as contemplated under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those anticipated as a result of various risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. For a brief discussion of the risks and uncertainties that may affect U-Haul Holding Company’s business and future operating results, please refer to our Form 10-K for the year ended March 31, 2026, which was filed with the SEC on May 27, 2026.
Report on Business Operations
Listed below on a consolidated basis are revenues for our major product lines for the fourth quarter and the full year of fiscal 2026 and 2025.
Quarters Ended March 31,
Years Ended March 31,
2026
2025
2026
2025
(Unaudited)
(In thousands)
Self-moving equipment rental revenues
$
757,001
$
745,259
$
3,811,921
$
3,725,524
Self-storage revenues
246,831
230,532
972,427
897,913
Self-moving and self-storage product and service sales
72,668
72,729
329,614
327,490
Property management fees
8,855
8,861
36,875
36,811
Life insurance premiums
25,590
19,553
80,977
83,707
Property and casualty insurance premiums
24,754
23,540
105,119
98,900
Net investment and interest income
40,612
36,519
163,104
151,974
Other revenue
95,508
96,516
537,782
506,346
Consolidated revenue
$
1,271,819
$
1,233,509
$
6,037,819
$
5,828,665
Listed below are revenues and earnings from operations at each of our operating segments for the fourth quarter and the full year of fiscal 2026 and 2025.
Quarters Ended March 31,
Years Ended March 31,
2026
2025
2026
2025
(Unaudited)
(In thousands)
Moving and storage
Revenues
$
1,180,114
$
1,153,414
$
5,686,690
$
5,492,774
Earnings (losses) from operations before equity in earnings of subsidiaries
(97,175)
(57,258)
350,227
645,772
Property and casualty insurance
Revenues
33,074
27,384
141,202
125,164
Earnings from operations
17,336
9,976
67,197
54,745
Life insurance
Revenues
61,339
55,201
221,753
221,869
Earnings from operations
3,807
4,755
15,308
16,642
Eliminations
Revenues
(2,708)
(2,490)
(11,826)
(11,142)
Earnings from operations before equity in earnings of subsidiaries
(27)
(249)
(111)
(1,005)
Consolidated Results
Revenues
1,271,819
1,233,509
6,037,819
5,828,665
Earnings (losses) from operations
(76,059)
(42,776)
432,621
716,154
Moving and Storage
Debt Metrics
(in thousands) (unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2026
2025
2025
2025
2025
Real estate secured debt
$3,204,208
$3,096,564
$3,002,344
$2,727,545
$2,703,656
Unsecured debt
1,700,000
1,700,000
1,700,000
1,700,000
1,700,000
Fleet secured debt
3,157,364
3,196,817
2,965,804
2,792,015
2,758,821
Other secured debt
63,377
64,798
64,357
65,570
66,864
Total debt
8,124,949
8,058,179
7,732,505
7,285,130
7,229,341
Cash and cash equivalents
$1,014,382
$1,010,011
$910,969
$726,069
$872,467
Total assets
18,687,591
18,717,342
18,460,371
17,858,535
17,522,952
Adjusted EBITDA (TTM)
1,645,859
1,640,173
1,681,900
1,650,277
1,619,714
Net debt to adjusted EBITDA
4.3
4.3
4.1
4.0
3.9
Net debt to total assets
38.0%
37.7%
37.0%
36.7%
36.3%
Percent of debt floating
6.7%
6.8%
7.1%
6.1%
6.1%
Percent of debt fixed
93.3%
93.2%
92.9%
93.9%
93.9%
Percent of debt unsecured
20.9%
21.1%
22.0%
23.3%
23.5%
Unencumbered asset ratio*
3.98x
4.01x
3.96x
3.86x
3.91x
* Unencumbered asset value compared to unsecured debt committed, outstanding or not. Unencumbered assets valued at the higher of historical cost or allocated NOI valued at a 10% cap rate, minimum required is 2.0x.
The components of depreciation, net of gains on disposals, for the fourth quarter and the full year of fiscal 2026 and 2025 are as follows:
Quarter Ended March 31,
Years Ended March 31,
2026
2025
2026
2025
(Unaudited)
(In thousands)
Depreciation expense – rental equipment
$
221,435
$
180,836
$
879,273
$
692,660
Depreciation expense – non rental equipment
22,863
23,934
94,206
95,709
Depreciation expense – real estate
55,731
48,408
209,654
183,564
Total depreciation expense
$
300,029
$
253,178
$
1,183,133
$
971,933
Net (gains) losses on disposals of rental equipment
$
17,832
$
14,600
$
104,496
$
(15,014)
Net (gains) losses on disposals of non-rental equipment
(676)
500
(608)
1,265
Total net (gains) losses on disposals equipment
$
17,156
$
15,100
$
103,888
$
(13,749)
Depreciation, net of (gains) losses on disposals
$
317,185
$
268,278
$
1,287,021
$
958,184
Net (gains) losses on disposals of real estate
$
3,001
$
6,305
$
8,611
$
15,758
The Company owns and manages self-storage facilities. Self-storage revenues reported in the consolidated financial statements represent Company-owned locations only. Self-storage data for our owned storage locations follows (unaudited):
Quarters Ended March 31,
2026
2025
(In thousands, except occupancy rate)
Unit count as of March 31
857
799
Square footage as of March 31
73,651
68,376
Average monthly number of units occupied
607
613
Average monthly occupancy rate based on unit count
71.1%
77.3%
End of period occupancy rate based on unit count
71.0%
77.0%
Average monthly square footage occupied
54,124
53,814
Years Ended March 31,
2026
2025
(In thousands, except occupancy rate)
Unit count as of March 31
857
799
Square footage as of March 31
73,651
68,376
Average monthly number of units occupied
620
607
Average monthly occupancy rate based on unit count
74.4%
79.2%
End of period occupancy rate based on unit count
71.0%
77.0%
Average monthly square footage occupied
54,858
53,021
Self-Storage Portfolio Summary
As of March 31, 2026
(unaudited)
U-Haul Owned Store Data by State
State/
Province
Stores
Units
Occupied
Rentable
Square Feet
Annual
Revenue
Per Foot
Occupancy
During Qtr
Texas
102
35,998
4,937,797
$15.87
67.5%
Florida
93
33,661
4,282,463
$19.32
67.9%
California
89
33,834
3,352,228
$22.48
78.1%
Illinois
85
37,915
4,432,525
$17.04
72.3%
Pennsylvania
74
27,777
3,157,671
$18.60
69.0%
Ohio
68
25,730
3,143,964
$15.51
70.8%
New York
67
27,855
2,723,022
$24.14
76.9%
Michigan
61
19,856
2,399,439
$16.56
74.7%
Georgia
57
21,250
2,808,691
$16.83
70.4%
Arizona
51
23,523
3,226,198
$16.76
66.1%
Wisconsin
44
16,420
2,092,796
$14.53
68.9%
North Carolina
42
16,860
2,211,672
$16.03
64.2%
Missouri
40
13,811
1,988,597
$14.70
63.6%
Washington
39
13,862
1,672,760
$17.93
68.3%
Tennessee
37
14,808
1,629,973
$15.54
80.5%
Minnesota
35
13,307
1,774,078
$14.24
71.2%
New Jersey
34
15,851
1,592,730
$21.43
78.0%
Ontario
33
12,430
1,416,014
$23.89
68.9%
Indiana
33
10,465
1,189,482
$14.74
77.9%
Alabama
32
7,931
1,312,968
$13.89
53.0%
Top 20 Totals
1,116
423,144
51,345,068
$17.72
70.6%
All Others
508
185,469
22,306,185
$17.65
72.2%
4Q FY 2026 Totals
1,624
608,613
73,651,253
$17.70
71.1%
Same Store Pool Held Constant for Prior Periods
Same Store 4Q26
948
342,134
34,053,475
$18.49
86.1%
Same Store 4Q25
948
365,169
34,037,858
$17.36
91.5%
Same Store 4Q24
948
365,223
34,004,911
$16.89
91.2%
Non-Same Store 4Q26
676
266,479
39,597,778
$16.68
57.9%
Non-Same Store 4Q25
610
250,465
34,338,142
$16.08
62.8%
Non-Same Store 4Q24
528
212,180
27,852,116
$16.06
65.6%
Same Store Pool, Prior Periods Unchanged
Same Store 4Q26
948
342,134
34,053,475
$18.49
86.1%
Same Store 4Q25
893
317,736
29,661,083
$17.32
91.9%
Same Store 4Q24
862
291,587
27,376,696
$16.87
92.3%
Non-Same Store 4Q26
676
266,479
39,597,778
$16.68
57.9%
Non-Same Store 4Q25
665
297,898
38,714,917
$16.32
66.0%
Non-Same Store 4Q24
614
285,816
34,480,331
$16.28
70.1%
Note: Store Count, Units, and NRSF reflect active storage locations for the last month of the reporting quarter.
Occupancy % reflects average occupancy during the reporting quarter.
Revenue per foot is average revenue per occupied foot over fiscal year 2026.
Same store includes storage locations with rentable storage inventory for more than three years and have had a capacity change of less than twenty units for any year-over-year period of the reporting month.
The locations have occupancy each month during the last three years and have achieved 80% or greater physical occupancy for the last two years. Prior year Same Store figures are for locations meeting the Same Store criteria as of the prior year reporting month.
U-HAUL HOLDING COMPANY AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
March 31,
March 31,
2026
2025
(Unaudited)
ASSETS
(In thousands)
Cash and cash equivalents
$
1,120,147
$
988,828
Trade receivables and reinsurance recoverables, net
159,768
230,716
Inventories and parts
178,155
163,132
Prepaid expenses
191,671
282,406
Fixed maturity securities available-for-sale, net, at fair value
2,417,912
2,479,498
Equity securities, at fair value
14,976
65,549
Investments, other
706,314
678,254
Deferred policy acquisition costs, net
112,852
121,729
Other assets
127,202
126,732
Right of use assets – financing, net
–
138,698
Right of use assets – operating, net
40,188
46,025
Related party assets
53,159
45,003
Property, plant and equipment, at cost:
Land
1,865,369
1,812,820
Buildings and improvements
10,542,945
9,628,271
Furniture and equipment
1,074,032
1,047,414
Rental trailers and other rental equipment
1,206,253
1,046,135
Rental trucks
8,554,508
7,470,039
23,243,107
21,004,679
Less: Accumulated depreciation
(6,862,662)
(5,892,079)
Total property, plant and equipment, net
16,380,445
15,112,600
Total assets
$
21,502,789
$
20,479,170
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accounts payable and accrued expenses
$
850,294
$
820,900
Notes, loans and finance leases payable, net
8,083,374
7,193,857
Operating lease liabilities
40,957
46,973
Policy benefits and losses, claims and loss expenses payable
939,874
857,521
Liabilities from investment contracts
2,357,545
2,511,422
Other policyholders’ funds and liabilities
2,899
7,539
Deferred income
56,614
52,895
Deferred income taxes, net
1,559,581
1,489,920
Total liabilities
13,891,138
12,981,027
Common stock
10,497
10,497
Non-voting common stock
176
176
Additional paid-in capital
462,548
462,548
Accumulated other comprehensive loss
(163,640)
(229,314)
Retained earnings
7,979,720
7,931,886
Cost of common stock in treasury, net
(525,653)
(525,653)
Cost of preferred stock in treasury, net
(151,997)
(151,997)
Total stockholders’ equity
7,611,651
7,498,143
Total liabilities and stockholders’ equity
$
21,502,789
$
20,479,170
U-HAUL HOLDING COMPANY AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Quarter Ended March 31,
2026
2025
(Unaudited)
(In thousands, except share and per share data)
Revenues:
Self-moving equipment rental revenues
$
757,001
$
745,259
Self-storage revenues
246,831
230,532
Self-moving and self-storage products and service sales
72,668
72,729
Property management fees
8,855
8,861
Life insurance premiums
25,590
19,553
Property and casualty insurance premiums
24,754
23,540
Net investment and interest income
40,612
36,519
Other revenue
95,508
96,516
Total revenues
1,271,819
1,233,509
Costs and expenses:
Operating expenses
830,457
812,290
Commission expenses
81,582
80,758
Cost of product sales
56,159
53,114
Benefits and losses
49,605
45,668
Amortization of deferred policy acquisition costs
4,851
4,755
Lease expense
5,038
5,117
Depreciation, net of (gains) losses on disposals
317,185
268,278
Net (gains) losses on disposal of real estate
3,001
6,305
Total costs and expenses
1,347,878
1,276,285
Earnings (losses) from operations
(76,059)
(42,776)
Other components of net periodic benefit costs
(346)
(372)
Other interest income
15,793
9,053
Interest expense
(96,595)
(80,419)
Fees on early extinguishment of debt and costs of defeasance
(919)
–
Pretax earnings (losses)
(158,126)
(114,514)
Income tax (expense) benefit
30,341
32,223
Losses available to common shareholders
$
(127,785)
$
(82,291)
Basic and diluted losses per share of Common Stock
$
(0.70)
$
(0.46)
Weighted average shares outstanding of Common Stock: Basic and diluted
19,607,788
19,607,788
Basic and diluted earnings (losses) per share of Non-Voting Common Stock
$
(0.65)
$
(0.41)
Weighted average shares outstanding of Non-Voting Common Stock: Basic and diluted
176,470,092
176,470,092
U-HAUL HOLDING COMPANY AND CONSOLIDATED SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Years Ended March 31,
2026
2025
(Unaudited)
(In thousands, except share and per share data)
Revenues:
Self-moving equipment rental revenues
$
3,811,921
$
3,725,524
Self-storage revenues
972,427
897,913
Self-moving and self-storage products and service sales
329,614
327,490
Property management fees
36,875
36,811
Life insurance premiums
80,977
83,707
Property and casualty insurance premiums
105,119
98,900
Net investment and interest income
163,104
151,974
Other revenue
537,782
506,346
Total revenues
6,037,819
5,828,665
Costs and expenses:
Operating expenses
3,415,362
3,275,471
Commission expenses
416,231
407,368
Cost of product sales
246,860
234,145
Benefits and losses
192,197
182,749
Amortization of deferred policy acquisition costs
19,652
18,333
Lease expense
19,264
20,503
Depreciation, net of (gains) losses on disposals
1,287,021
958,184
Net (gains) losses on disposal of real estate
8,611
15,758
Total costs and expenses
5,605,198
5,112,511
Earnings from operations
432,621
716,154
Other components of net periodic benefit costs
(1,383)
(1,488)
Other interest income
47,261
59,057
Interest expense
(364,757)
(295,716)
Fees on early extinguishment of debt and costs of defeasance
(1,108)
(495)
Pretax earnings
112,634
477,512
Income tax expense
(29,506)
(110,422)
Earnings available to common shareholders
$
83,128
$
367,090
Basic and diluted earnings per share of Common Stock
$
0.24
$
1.69
Weighted average shares outstanding of Common Stock: Basic and diluted
19,607,788
19,607,788
Basic and diluted earnings per share of Non-Voting Common Stock
$
0.44
$
1.89
Weighted average shares outstanding of Non-Voting Common Stock: Basic and diluted
176,470,092
176,470,092
EARNINGS PER SHARE
We calculate earnings per share using the two-class method in accordance with Accounting Standards Codification Topic 260, Earnings Per Share. The two-class method allocates the undistributed earnings available to common stockholders to the Company’s outstanding common stock, $0.25 par value (the “Voting Common Stock”), and the Series N Non-Voting Common Stock, $0.001 par value (the “Non-Voting Common Stock”), based on each share’s percentage of total weighted average shares outstanding. The Voting Common Stock and Non-Voting Common Stock are allocated 10% and 90%, respectively, of our undistributed earnings available to common stockholders. This represents earnings available to common stockholders, less the dividends declared, for both the Voting Common Stock and Non-Voting Common Stock.
Our undistributed earnings per share is calculated by taking the undistributed earnings available to common stockholders and dividing this number by the weighted average shares outstanding for the respective stock. If there was a dividend declared for that period, the dividend per share is added to the undistributed earnings per share to calculate the basic and diluted earnings per share. The process is used for both Voting Common Stock and Non-Voting Common Stock.
The calculation of basic and diluted earnings per share for the quarters and years ended March 31, 2026 and 2025 for our Voting Common Stock and Non-Voting Common Stock were as follows:
For the Quarter Ended
March 31,
2026
2025
(Unaudited)
(In thousands, except share and per share amounts)
Weighted average shares outstanding of Voting Common Stock
19,607,788
19,607,788
Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock
196,077,880
196,077,880
Percent of weighted average shares outstanding of Voting Common Stock
10%
10%
Net losses available to common stockholders
$
(127,785)
$
(82,291)
Voting Common Stock dividends declared
–
–
Non-Voting Common Stock dividends declared
(8,823)
(8,823)
Undistributed losses available to common stockholders
$
(136,608)
$
(91,114)
Undistributed losses available to common stockholders allocated to Voting Common Stock
$
(13,661)
$
(9,111)
Undistributed losses per share of Voting Common Stock
$
(0.70)
$
(0.46)
Dividends declared per share of Voting Common Stock
–
–
Basic and diluted losses per share of Voting Common Stock
$
(0.70)
$
(0.46)
Weighted average shares outstanding of Non-Voting Common Stock
176,470,092
176,470,092
Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock
196,077,880
196,077,880
Percent of weighted average shares outstanding of Non-Voting Common Stock
90%
90%
Net losses available to common stockholders
$
(127,785)
$
(82,291)
Voting Common Stock dividends declared
–
–
Non-Voting Common Stock dividends declared
(8,823)
(8,823)
Undistributed losses available to common stockholders
$
(136,608)
$
(91,114)
Undistributed losses available to common stockholders allocated to Non-Voting Common Stock
$
(122,947)
$
(82,003)
Undistributed losses per share of Non-Voting Common Stock
$
(0.70)
$
(0.46)
Dividends declared per share of Non-Voting Common Stock
0.05
0.05
Basic and diluted earnings (losses) per share of Non-Voting Common Stock
$
(0.65)
$
(0.41)
For the Years Ended
March 31,
2026
2025
(Unaudited)
(In thousands, except share and per share amounts)
Weighted average shares outstanding of Voting Common Stock
19,607,788
19,607,788
Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock
196,077,880
196,077,880
Percent of weighted average shares outstanding of Voting Common Stock
10%
10%
Net earnings available to common stockholders
$
83,128
$
367,090
Voting Common Stock dividends declared
–
–
Non-Voting Common Stock dividends declared
(35,294)
(35,294)
Undistributed earnings available to common stockholders
$
47,834
$
331,796
Undistributed earnings available to common stockholders allocated to Voting Common Stock
$
4,783
$
33,180
Undistributed earnings per share of Voting Common Stock
$
0.24
$
1.69
Dividends declared per share of Voting Common Stock
–
–
Basic and diluted earnings per share of Voting Common Stock
$
0.24
$
1.69
Weighted average shares outstanding of Non-Voting Common Stock
176,470,092
176,470,092
Total weighted average shares outstanding for Voting Common Stock and Non-Voting Common Stock
196,077,880
196,077,880
Percent of weighted average shares outstanding of Non-Voting Common Stock
90%
90%
Net earnings available to common stockholders
$
83,128
$
367,090
Voting Common Stock dividends declared
–
–
Non-Voting Common Stock dividends declared
(35,294)
(35,294)
Undistributed earnings available to common stockholders
$
47,834
$
331,796
Undistributed earnings available to common stockholders allocated to Non-Voting Common Stock
$
43,051
$
298,616
Undistributed earnings per share of Non-Voting Common Stock
$
0.24
$
1.69
Dividends declared per share of Non-Voting Common Stock
0.20
0.20
Basic and diluted earnings per share of Non-Voting Common Stock
$
0.44
$
1.89
NON-GAAP FINANCIAL RECONCILIATION SCHEDULE
As of April 1, 2019, we adopted the new accounting standard for leases. Part of this adoption resulted in approximately $1 billion of property, plant and equipment, net (“PPE”) being reclassed to Right of use assets – financing, net (“ROU-financing”). The tables below show adjusted PPE as of March 31, 2026 and March 31, 2025 by including the ROU-financing. The assets included in ROU-financing are not a true book value as some of the assets are recorded at between 70% and 100% of value based on the lease agreement. The finance leases tied to these ROU-financing were paid off as of March 31, 2026. This non-GAAP measure is intended as a supplemental measure of our balance sheet that is neither required by nor presented in accordance with GAAP. We believe that the use of this non-GAAP measure provides an additional tool for investors to use in evaluating our financial condition. This non-GAAP measure should not be considered in isolation or as a substitute for other measures calculated in accordance with GAAP.
March 31,
March 31,
2026
2025
March 31,
ROU Assets
Property, Plant and Equipment
Property, Plant and Equipment
2026
Financing
Adjusted
Adjusted
(Unaudited)
(In thousands)
Property, plant and equipment, at cost
Land
$
1,865,369
$
–
$
1,865,369
$
1,812,820
Buildings and improvements
10,542,945
–
10,542,945
9,628,271
Furniture and equipment
1,074,032
–
1,074,032
1,047,475
Rental trailers and other rental equipment
1,206,253
–
1,206,253
1,104,206
Rental trucks
8,554,508
–
8,554,508
7,779,514
Right-of-use assets, gross
23,243,107
–
23,243,107
21,372,286
Less: Accumulated depreciation
(6,862,662)
–
(6,862,662)
(6,120,988)
Total property, plant and equipment, net
$
16,380,445
$
–
$
16,380,445
$
15,251,298
March 31,
2025
March 31,
ROU Assets
Property, Plant and Equipment
2025
Financing
Adjusted
(Unaudited)
(In thousands)
Property, plant and equipment, at cost
Land
$
1,812,820
$
–
$
1,812,820
Buildings and improvements
9,628,271
–
9,628,271
Furniture and equipment
1,047,414
61
1,047,475
Rental trailers and other rental equipment
1,046,135
58,071
1,104,206
Rental trucks
7,470,039
309,475
7,779,514
Right-of-use assets, gross
21,004,679
367,607
21,372,286
Less: Accumulated depreciation
(5,892,079)
(228,909)
(6,120,988)
Total property, plant and equipment, net
$
15,112,600
$
138,698
$
15,251,298
Non-GAAP Financial Measures
Below is a reconciliation of Moving and Storage non-GAAP financial measures as defined under SEC rules, such as earnings before interest, taxes, depreciation, and amortization (“EBITDA”). The Company believes that these widely accepted measures of operating profitability improve the transparency of the Company’s disclosures and provide a meaningful presentation of the Company’s results from its core business operations excluding the impact of items not related to the Company’s ongoing core business operations and improve the period-to-period comparability of the Company’s results from its core business operations. These non-GAAP financial measures are not substitutes for GAAP financial results and should only be considered in conjunction with the Company’s financial information that is presented in accordance with GAAP. The non-GAAP measure reported is Adjusted EBITDA. The table below presents the reconciliation of the trailing twelve months adjusted EBITDA measures to its most directly comparable GAAP measures.
Moving and Storage Adjusted EBITDA Calculations
(In thousands, unaudited)
March 31,
December 31,
September 30,
June 30,
March 31,
2026
2025
2025
2025
2025
Net earnings available to common stockholders
$
83,128
$
128,622
$
232,756
$
314,004
$
367,090
Income tax expense
10,341
11,714
48,448
76,156
94,747
Fees on early extinguishment of debt and costs of defeasance
BELLEVUE, Wash.–(BUSINESS WIRE)–
Symetra Life Insurance Company has been named a 2026 Community Champion by the Puget Sound Business Journal as part of the publication’s annual Corporate Citizenship Awards celebrating “how businesses in the region use their role to make a difference for those who need it most.” Symetra was recognized for three programs — Summer of Service, BOLD and LETS Play by Symetra — at a sold-out awards event held May 12 at the Four Seasons Seattle.
Sharmila Swenson, VP, Public Affairs & Social Impact (3rd from right), along with members of Symetra’s public affairs, social impact and community relations team, accepted the 2026 Community Champion Award from the Puget Sound Business Journal at an awards event at the Four Seasons Seattle on May 12, 2026.
“Whether they’re building a philanthropic mission into their everyday operations or supporting employees in their own volunteer efforts, companies across the Puget Sound region have found ways to make a unique impact on their communities,” said Marissa Nall, associate editor, Puget Sound Business Journal. “The companies that have made their philanthropy go the furthest in 2026 are the ones that have taken their cues from their employees and the people in their wider networks. They have tapped into unique skills and resources to amplify the impact of both their giving and their everyday operations, making community support not an afterthought, but a core part of their business model.”
“Investing in our communities and creating positive impact has long been a defining part of Symetra’s culture and is at the heart of our corporate responsibility program,” said Sharmila Swenson, vice president, Public Affairs and Social Impact. “We empower employees to volunteer, give, and apply their skills to the causes they care about. Through volunteer events like Summer of Service, matching gifts and employee-led resource group initiatives, we foster a culture of giving back that reflects our employees’ priorities and amplifies their contributions.”
About Summer of Service
During this annual company-wide community service event, Symetra employees have the opportunity to take time from their workday to volunteer at projects around the Puget Sound and across the country. As the program marks its 18th anniversary in June 2026, employees will lean into more than 60 community projects nationwide and have contributed more than 26,000 Summer of Service hours since 2009.
About BOLD (Board Orientation Leadership Development)
Launched in 2021, Symetra’s Board Orientation Leadership Development (BOLD) program encourages employees to provide leadership and support to community organizations by educating them on what it takes to serve on a nonprofit board. Program “graduates” are then paired with nonprofits that align with their interests and talents to explore further engagement, deepening their impact and commitment to volunteerism, and expanding Symetra’s community partnerships.
In 2025, Symetra employees served on 27 nonprofit boards in Washington (32 boards nationally).
About LETS Play by Symetra
Launched in 2022 in partnership with the Seattle Kraken and Seattle Storm sports teams, ‘LETS Play by Symetra’ focuses on building leadership (L), equity (E) and teamwork (T) skills through sports (S). The program annually adopts a fourth-grade class from a Title I school in the Puget Sound area. A multi-week curriculum engages students during PE class, blending the fun of sports with skills-building lessons that can help set young students up for future success, in school and in life.
Over the past five years, LETS Play has partnered with five schools across three school districts (Highline, Renton, and Bellevue), engaged more than 330 fourth graders and contributed $122,000 in direct funds to the participating schools.
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.
