OneAmerica® achieves various financial records in 2016; $5.9 billion in benefits paid to customers
Growth driven by strong sales across all divisions; supported by strong capital positionIndianapolis, April 21, 2017
OneAmerica® announced today another record-breaking growth year in 2016, marked by all-time highs in revenues, assets under administration, capital and benefits paid to customers.
“We’re proud to call attention to the $5.9 billion in benefits we paid in 2016. That number represents 5.9 billion moments of truth where everything we work for is delivered to a person, family or business who placed their trust in us,” said Scott Davison, OneAmerica chairman, president and CEO. “Our sales growth was well above industry averages this year, and that growth is both enabling and encouraging us to invest in ways to better serve our customers.”
Over the past five years, each of the organization’s divisions has experienced tremendous compound annual sales growth, with increases of 6.1% in the Individual Life and Financial Services division, 9.9% in Retirement Services, and 13.5% in Employee Benefits. The enterprise grew its assets under administration to $74.1 billion and maintained a 94% customer retention rate. Additionally, nearly all key financial metrics achieved record marks in 2016, demonstrating continued financial strength.
Assets under Administration:
The company’s growth is supported by its strong capital position and financial strength, which were once again validated by major ratings agencies in 2016. Total available capital of $1.7 billion finished at a record level at year end 2016. OneAmerica continues to maintain capital levels well above the AAA level – S&P’s 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 July 28, 2016. In addition, the AA- rating assigned to AUL and State Life by Standard & Poor’s was affirmed – the fourth highest of 22 possible ratings as of August 29, 2016.
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A national leader in the insurance and financial services marketplace for 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.
Jen Pittman, Public Relations Director, 317-285-4927