A.M. Best Co. affirms ratings of OneAmerica companies, outlook positive
Contact:
Beth King, APR, Media Relations Manager
(317) 285-4168 or beth.king@oneamerica.com
For Immediate Release:
Indianapolis (June 10, 2010) – A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of “a+” of American United Life Insurance Company® (AUL) and its affiliates, The State Life Insurance Company and Pioneer Mutual Life Insurance Company. A.M. Best also affirmed the debt rating of “a-” on the surplus notes of AUL and the issuer credit rating and senior debt rating of “bbb+” of OneAmerica Financial Partners, Inc. The outlook for all ratings was revised from stable to positive.
OneAmerica’s affirmation and revised positive outlook by A.M. Best is notable given the difficult economic conditions in 2008 and 2009. During this period of turbulence and uncertainty, OneAmerica performed exceptionally well and has emerged stronger than any time in its history.
“The actions taken by A.M. Best are further validation that even in the most trying times, the employees of the OneAmerica companies represent the best interests of our policyholders,” said OneAmerica Chairman, President and CEO Dayton H. Molendorp. “Our commitment to building strength and achieving double-digit sales growth and record earnings in 2009 has reinforced our position of leadership and given us momentum in 2010.”
In a statement released by A.M. Best, the ratings agency noted OneAmerica’s sound risk-adjusted capital position, strong top line revenue growth and consistently strong operating performance in core business lines. Additionally, A.M. Best stated that ratings recognize OneAmerica’s diversified sources of revenues and earnings and success in both its individual and retirement services segments, which have facilitated organic growth.
The report stated, “OneAmerica has established and growing positions in full-service micro/small retirement plans, life insurance and asset-based long-term care.” A.M. Best notes that OneAmerica’s investment portfolio has performed significantly better than most of its life/annuity peers with respect to both realized and unrealized losses over the last few years. Furthermore, OneAmerica’s mutual holding company structure facilitates a strategy focused on long-term financial strength, and its core product lines have minimal equity market exposure.”
About OneAmerica
OneAmerica Financial Partners, Inc., is headquartered in Indianapolis, IN. The companies of OneAmerica® can trace their solid foundations back more than 130 years in the insurance and financial services marketplace.
OneAmerica’s nationwide network of companies offers a variety of products to serve the financial needs of their policyholders and other clients. These products include retirement plan products and services; individual life insurance, annuities, long-term care solutions and employee benefits. The goal of OneAmerica is to blend the strengths of each company to achieve greater collective results.
The products of the OneAmerica companies are distributed through a network of employees, agents, brokers and other distribution sources that are committed to increasing value to our policyholders by helping them plan to meet their financial goals.
We deliver on our promises when customers need us most.
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