Strong capital position, robust sales drive success
INDIANAPOLIS–(BUSINESS WIRE)–OneAmerica® today announced its 2019 financial results, recording another solid year of growth, highlighted by strong capital levels and robust sales.
“OneAmerica is built to thrive under any circumstance, and our exceptional financial strength and mutual structure ensure our focus remains on the customers we serve,” said Scott Davison, OneAmerica chairman, president and CEO. “Because we don’t serve stockholders, we’re prepared for times like these – to pay claims, provide benefits and help ensure people are secure in the retirement they’ve planned for. In 2019, we delivered on more than $6 billion of promises to customers.”
Over the past five years, each OneAmerica business line has experienced tremendous compound annual sales growth, with increases of 7.7% in our Individual Life and Financial Services products, 8.8% in Retirement Services and 21.8% in Employee Benefits. Assets under administration for the enterprise tallied $86.5 billion, with a compounded annual growth rate of 14% over the past five years, while the enterprise maintained a 93% customer- retention rate.
The company’s continued growth is supported by its very strong capital position and financial strength, which were again validated by major ratings agencies in 2019. Total available capital finished 2019 at a record level of $1.9 billion.
A.M. Best affirmed the A+ (Superior) rating for OneAmerica companies American United Life Insurance Company® (AUL) and The State Life Insurance Company® (State Life) on July 19, 2019. A+ (Superior) is the second highest of 15 possible ratings. In addition, the AA- rating assigned to AUL and State Life by Standard & Poor’s was also affirmed on Aug. 26, 2019 – the fourth highest of 22 possible ratings.
A national provider in the insurance and financial services marketplace for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset based long-term care solutions and employee benefit plan products.
Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources that are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit OneAmerica.com/companies. The OneAmerica 2019 Annual Report is also now available for download.
Lou Ann Baker, Director of Public Relations, 317-513-1284