2022 report shows continued growth, resilience for OneAmerica®
Despite challenging economic environment, retention rate and growth were strong
INDIANAPOLIS, June 2, 2023
OneAmerica® today announced its 2022 financial results, highlighted by 3.6% year-over-year growth in core adjusted revenue. Despite economic uncertainty, customers continued to invest in the company’s products and services — trusting OneAmerica to support their long-term financial wellness.
“In 2022, we worked to make sure more Americans have what they need to protect their families and prepare for retirement, and our results were impressive,” said Scott Davison, OneAmerica chairman, president and CEO. “As proud as we are of these achievements, the most important measure of our 2022 success is the $6 billion we paid to customers. That number represents thousands of times we were there when they needed us most.”
Assets under administration for the enterprise exceeded $90 billion, with a compounded annual growth rate of 5.8% over the past three years, while a 93.5% customer-retention rate was maintained.
During another year of continued economic uncertainty, ratings for OneAmerica demonstrate an ability to remain strong and deliver for customers. The company’s continued growth is supported by its strong capital position and financial strength, which were again validated by major ratings agencies in 2022.
A.M. Best reaffirmed the A+ (Superior) rating for OneAmerica companies American United Life Insurance Company® (AUL) and The State Life Insurance Company® (State Life) on Aug. 17, 2022. A+ (Superior) is the second-highest of 16 possible ratings issued by the agency.
In addition, the AA- rating assigned to AUL and State Life by Standard & Poor’s was also affirmed — the fourth-highest of 22 possible ratings as of Aug. 12, 2022. OneAmerica insurance companies are among only 8% of U.S. life insurers with an A.M. Best rating of A+ (Superior) or higher and a Standard & Poor’s rating of AA- or higher.
Additional information on the performance of OneAmerica in 2022 is available in the annual report.
A national provider of insurance and financial services for 145 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 who are committed to providing value to our customers. To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/companies.
OneAmerica® is the marketing name for the companies of OneAmerica.
Enterprise Public Relations Manager