OneAmerica Delivers Exceptional Performance in 2010
Contact:
Paul Branks, Assistant Vice President, Corporate Communications
(317) 285-1437 or paul.branks@oneamerica.com
For Immediate Release:
Indianapolis (September 22, 2010) – Since the financial crisis, OneAmerica has been increasingly recognized as one of the strongest and most stable financial services companies in America. Customers and producers understand they can count on the companies of OneAmerica to pay their claims and benefits and deliver products and services that provide lasting value. OneAmerica’s extraordinary growth during 2010 has been fueled by this confidence, and has expanded the financial foundation underlying the promises we make to customers.
OneAmerica’s 2010 highlights include the following:
- Sales growth has continued to outpace the industry by a wide margin. Total sales through August have grown 31 percent over 2009’s record year. Individual life sales are up 72 percent and 401(k) sales have increased 67 percent.
- In July, OneAmerica completed its acquisition of McCready and Keene, a highly respected retirement consulting firm with $19 billion in assets under administration. This acquisition expands our retirement product offerings and is expected to accelerate sales growth.
- OneAmerica’s financial strength continues to be rock-solid. There have been no investment write-offs in 2010, and our bond portfolio was trading at more than 110 percent of book value as of August 31, 2010. As A. M. Best noted in their June report, “OneAmerica’s investment portfolio has performed significantly better than most of its life/annuity peers.” Statutory capital grew at an annualized rate of more than 7 percent in the first six months and is at an all-time high. OneAmerica remains solidly profitable, with GAAP net income increasing 33 percent through June, when compared to 2009.
- OneAmerica’s ratings remain very strong. Enterprise ratings were affirmed in 2010 by both Standard & Poor’s and A.M. Best. A.M. Best revised its outlook for the OneAmerica companies to “positive” from “stable,” and recognized American United Life as one of only a handful of companies to maintain an “A” rating or higher for 60 consecutive years or more. Our current ratings are:
- Standard and Poor’s: AA- “Very Strong” (AUL; State Life)
- A.M. Best: A “Excellent” (AUL; State Life; Pioneer Mutual Life)
While there continues to be a great deal of uncertainty, OneAmerica’s commitment to customers and producers remains unchanged. The rating agencies agree:
“OneAmerica’s mutual holding company structure facilitates a strategy focused on long-term financial strength.” – 2010 A.M. Best OneAmerica report
“Standard & Poor’s believes OneAmerica will continue to be managed conservatively and that management will remain focused on adding value to policyholders – and, in turn, the organization.” – 2010 Standard & Poor’s OneAmerica report
About OneAmerica
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies of OneAmerica® can trace their solid foundations back more than 130 years in the insurance and financial services marketplace.
OneAmerica’s nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other clients. These products include retirement plan products and services; individual life insurance, annuities, long-term care solutions and employee benefits. The goal of OneAmerica is to blend the strengths of each company to achieve greater collective results.
The products of the OneAmerica companies are distributed through a network of employees, agents, brokers and other distribution sources that are committed to increasing value to our policyholders by helping them plan to meet their financial goals.
We deliver on our promises when customers need us most
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