A.M. Best upgrades
OneAmerica to A+ (Superior)
(Oct. 28, 2011) — A.M. Best Co. has upgraded the financial strength rating of American United Life Insurance Company® (AUL) and its affiliates The State Life Insurance Company and Pioneer Mutual Life Insurance Company to A+ (Superior) from A (Excellent).
OneAmerica becomes only the second life insurance organization to receive a ratings upgrade to A+ (Superior) from A.M. Best since the beginning of the financial crisis in 2007.
[Top]A.M. Best1 A+ (Superior) — Stable outlook
A.M. Best's A+ (Superior) rating is second highest of 16 possible ratings,
according to the press release dated May 10, 2011, and reflects:
- Diversified sources of earnings and revenue
- Solid risk-adjusted capital position
- Consistently favorable operating performance in core business lines
- Growth in statutory premium, capital and net income that has consistently outpaced mutual peers in recent years.
[Top]S&P2 AA- (Very strong) — Stable outlook
Standard and Poor's AA- (Very strong) rating is fourth highest of 21 possible ratings, according to the report dated August 4, 2011, and reflects:
- Very strong capitalization with overall capital redundant at AAA rating level
- Diverse business profile supported by above-average growth in key business segments
- Strong liquidity profile supported by a high-quality and very conservatively managed investment portfolio
- Long-term strategy of policyholder value protection while striving to maintain a strong balance sheet, profitable growth and geographic expansion
These ratings reflect rating agency assessments of the financial strength and claims-paying ability of the insurance companies listed. They are not intended to reflect the investment experience or financial strength of any variable account, which is subject to market risk. Because the dates are only updated when there's a change in the rating, the dates above reflect the most recent ratings we have received. Please know that these ratings can change at any time.
[Top]A personal message from Dayton Molendorp, Chairman, President, and CEO
[Top]Related Links
2010 financial results
-
+ The companies of OneAmerica 4
Total assets $24.4 billion Total revenue $1.3 billion Total equity $1.9 billion Combined total available capital6 $1.3 billion Net income $121.9 million -
Total assets $16.5 billion Premium and other income $2.5 billion Total surplus (incl. AVR7) $876.6 million Net investment income $467.5 million Group annuity and pension assets $11.2 billion Statutory pre-tax net gain $84.8 million -
Total assets $3.6 billion Total life insurance in force $12.0 billion Premium & other income $554.4 million Total surplus (inc. AVR7) $241.4 million Net investment income $190.1 million Statutory pre-tax net gain $31.3 million -
Total assets $477.5 million Total life insurance in force $3.1 billion Premium & other income $28.4 million Total surplus (inc. AVR7) $38.5 million Net investment income $27.3 million Statutory pre-tax net gain $5.6 million
- 1
- American United Life Insurance Company® (AUL), The State Life Insurance Company, and Pioneer Mutual Life Insurance Company (PML).
- 2
- American United Life Insurance Company® and The State Life Insurance Company.
- 3
- AAUL, State Life, and PML are stock subsidiaries of American United Mutual Insurance Holding Company.
- 4
- Financial results are produced according to Generally Accepted Accounting Principles (GAAP). These consolidated results include AUL and its subsidiaries, PML, State Life, R.E. Moulton and OneAmerica Securities.
- 4
- American United Life Insurance Company® and The State Life Insurance Company.
- 5
- Numbers reported on a statutory basis.
- 6
- For the companies of OneAmerica, total available capital is calculated by adding statutory surplus, asset valuation reserve, 50% of the policyholder dividend liability of the insurance entities, and liquid assets held at the holding company.
- 7
- Includes asset valuation reserve.
Note: OneAmerica is a stock holding company, not a licensed insurance company.
