Strong capital position combined with robust sales in all divisions to drive growth
INDIANAPOLIS, IN – (April 23, 2018) OneAmerica® today announced that 2017 was another record-breaking year of growth, marked by all-time highs in revenues, assets under administration and sales.
“In 2017, we delivered $5.8 billion in promises paid to customers as we maintained our extraordinary financial strength, which will allow us to meet countless future commitments,” said Scott Davison, OneAmerica chairman, president and CEO. “And we’ve taken our service and capabilities to the next level, investing millions of dollars in technology and service processes that are easier for our customers and their advisors to access and navigate.”
Over the past five years, each OneAmerica business line has experienced tremendous compound annual sales growth, with increases of 7.8 percent in the Individual Life and Financial Services division, 12.3 percent in Retirement Services and 13.2 percent in Employee Benefits. The enterprise grew its assets under administration to $83.0 billion (from $74.1 billion) and maintained a 93 percent customer-retention rate. Also, nearly all key financial metrics sustained record marks in 2017, demonstrating continued financial strength.
Solid Capital Position & Financial Strength
The company’s growth is supported by its solid capital position and financial strength, which were again validated by major ratings agencies in 2017. Total available capital finished 2017 at a record level of $1.7 billion. OneAmerica continues to maintain capital levels above the AAA level, Standard & Poor’s (S&P) highest capital standard. A.M. Best affirmed the A+ (Superior) rating for OneAmerica companies American United Life Insurance Company® (AUL), The State Life Insurance Company® (State Life) and Pioneer Mutual Life Insurance Company® (PML). A+ (Superior) is the second highest of 16 possible ratings as of August 10, 2017. In addition, the AA-rating assigned to AUL and State Life by S&P’s was affirmed – the fourth highest of 22 possible ratings as of September 27, 2017. The combined ratings place OneAmerica companies in an elite group of the top 9 percent of 370 insurance companies assessed by both rating agencies.
About OneAmerica® A national leader 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 2017 Annual Report is also now available for download.
Contact: Lou Ann Baker, Public Relations Director, 317-285-1490 [email protected]