INDIANAPOLIS – (June 3, 2020) OneAmerica® today announced its 2019 financial results, recording another solid year of growth, highlighted by strong capital levels and robust sales.
“OneAmerica is built to thrive under any circumstance, and our exceptional financial strength and mutual structure ensure our focus remains on the customers we serve,” said Scott Davison, OneAmerica chairman, president and CEO. “Because we don’t serve stockholders, we’re prepared for times like these – to pay claims, provide benefits and help ensure people are secure in the retirement they’ve planned for. In 2019, we delivered on more than $6 billion of promises to customers.”
Over the past five years, each OneAmerica business line has experienced tremendous compound annual sales growth, with increases of 7.7% in our Individual Life and Financial Services products, 8.8% in Retirement Services and 21.8% in Employee Benefits. Assets under administration for the enterprise tallied $86.5 billion, with a compounded annual growth rate of 14% over the past five years, while the enterprise maintained a 93% customer- retention rate.
The company’s continued growth is supported by its very strong capital position and financial strength, which were again validated by major ratings agencies in 2019. Total available capital finished 2019 at a record level of $1.9 billion.
A.M. Best affirmed the A+ (Superior) rating for OneAmerica companies American United Life
Insurance Company® (AUL) and The State Life Insurance Company® (State Life) on July 19,
2019. A+ (Superior) is the second highest of 15 possible ratings. In addition, the AA- rating assigned to AUL and State Life by Standard & Poor’s was also affirmed on Aug. 26, 2019 – the fourth highest of 22 possible ratings.