Strong capital position combined with robust sales to drive growth
INDIANAPOLIS–(BUSINESS WIRE)– OneAmericaĀ® today announced its 2018 financial results, demonstrating another solid year of growth, highlighted by strong capital levels and increased sales.
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2018 Financials Strong, Steady and Stable for OneAmericaĀ® (Graphic: Business Wire)
āAs a caring company that creates tangible outcomes, the best measure of our mission is the six billion dollars we paid out to our customers in 2018,ā said Scott Davison, OneAmerica chairman, president and CEO. āOur exceptional financial strength and industry-leading growth will enable us to continue to create more positive outcomes for many years to come, and as a mutual company, our focus remains the long-term best interests of our customers.ā
Over the past five years, each OneAmerica business line has experienced tremendous compound annual sales growth with increases of 8.5 percent in our Individual Life and Financial Services products, 9.9 percent in Retirement Services and 24.2 percent in Employee Benefits. Assets under administration for the enterprise tallied $77.2 billion, with a compounded annual growth rate of 16% over the past five years, while the enterprise maintained a 93 percent customer-retention rate.
The companyās continued growth is supported by its very strong capital position and financial strength, which were again validated by major ratings agencies in 2018. Total available capital finished 2018 at a record level of $1.8 billion. OneAmerica continues to maintain capital levels above the AAA level, Standard & Poorās (S&P) highest capital standard.
A.M. Best affirmed the A+ (Superior) rating for OneAmerica companies American United Life Insurance CompanyĀ® (AUL) and The State Life Insurance CompanyĀ® (State Life) on July 27, 2018. A+ (Superior) is the second highest of 16 possible ratings. In addition, the AA-rating assigned to AUL and State Life by S&Pās was also affirmed ā the fourth highest of 22 possible ratings as of September 7, 2018.
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.
Lou Ann Baker, Director of Public Relations, 317-285-1490