A.M. Best Co. upgrades the financial strength rating of OneAmerica to A+ (Superior)
Issuer credit and debt ratings also receive upgrades
Contact:
Jim Gavin, Media Relations Manager
(317) 285-4168 or jim.gavin@oneamerica.com
For Immediate Release:
Indianapolis (May 10, 2011) – A.M. Best Co. has upgraded the financial strength rating of American United Life Insurance Company® (AUL) and its affiliates The State Life Insurance Company and Pioneer Mutual Life Insurance Company to A+ (Superior) from A (Excellent). A.M. Best also upgraded AUL’s issuer credit rating to “aa-” from “a+”, the issuer credit rating and senior debt rating of OneAmerica Financial Partners, Inc to “a-” from “bbb+” and the debt rating on the outstanding surplus notes of AUL to “a” from “a-” The outlook for all ratings is stable.
OneAmerica becomes only the second life insurance organization to receive a ratings upgrade to A+ (Superior) from A.M. Best since the beginning of the financial crisis in 2007.
“In everything we do, we put the best interests of our policyholders first,” said Dayton H. Molendorp, chairman, president and CEO of OneAmerica. “As a mutual organization, our long-term focus enabled us to build strength and accelerate sales growth through the financial crisis.”
In a statement, A.M. Best noted that “the ratings actions reflected OneAmerica’s solid risk-adjusted capital position, strong consolidated top-line revenue growth and consistently favorable operating performance across its core business lines.” A.M. Best went on to note that OneAmerica’s investment portfolio has continued to perform significantly better than most of its peers and that “OneAmerica’s mutual holding company structure facilitates a strategy focused on long-term financial strength.”
“A.M. Best has recognized OneAmerica’s ability to progress in an industry facing considerable headwinds,” said Molendorp. “It is through consistent growth, strength and excellent performance that OneAmerica is establishing itself as an industry leader.”
About AUL
American United Life Insurance Company® (AUL) is the founding member of OneAmerica® and is focused on providing a strong portfolio of products for individuals, families and small businesses. AUL uses a national network of experienced professionals utilizing an extensive menu of financial products, including life insurance, annuities and employee benefit plan products. The company helps consumers prepare for tomorrow by helping to protect their financial futures.
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 benefit plan products. 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 prepare to meet their financial goals.
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