When Fidelity Security Life Insurance Company (FSL) was incorporated in 1968, there was no way to predict the success, growth, and profitability more than 50 years later.
“We had no ceilings, no floors, no walls, no boundaries of any kind,” said co-founder Dorothy Jones, who along with her husband, Forrest, developed Fidelity's formula for success.
When Forrest and Dorothy retired in 1989, their son, Richard F. "Dick" Jones took the helm, guiding FSL on a steady path that witnesses spectacular gains in every measure of corporate success. During his tenure, annual premium grew tenfold, to $1.4 billion, capital grew from $20 million to $320 million.
Now a third generation of the Jones family — brothers Bryson L. Jones, Bradford R. Jones, and Richard F. Jones Jr. — have assumed leadership roles in the Company and provide the continuity that is poised to deliver continued growth and success.
What distinguishes the Jones family is their focus on creating long-term value and growing their business through continuous reinvestment. "As a private, family run company, we can manage for the long term," says Dick Jones, FSL Chairman. "We're not concerned about meeting quarterly numbers just to satisfy the whims of Wall Street analysts."
The family has built one of the strongest insurance companies in the industry from a financial standpoint, with capitalization that far outpaces the industry norms. "We believe that Capital & Surplus is the best and truest measure of the real strength and vigor of a life insurance company,” says Dick Jones.
The company's balance sheet now stands at $327 million in capital, a figure that has tripled since 2010. Conservatively calculated reserves are designed to cover all policyholder claims, while capital & surplus is additional assurance that the company can meet its obligations. “It’s the icing on the cake,” Jones says.
Thriving and trailblazing are part of FSL's history, its fabric. With seasoned leadership, the Jones family believes there is no limit to what FSL can achieve.