OneAmerica affirmed by Standard and Poor’s
Contact:
Beth King, APR, Media Relations Manager
(317) 285-4168 or beth.king@oneamerica.com
For Immediate Release:
Indianapolis (Aug. 11, 2010) – Standard & Poor’s has affirmed the ratings of OneAmerica and its life operating companies, American United Life Insurance Company® (AUL) and The State Life Insurance Company1, with a stable outlook. The financial strength ratings of the insurance companies remain at AA- (Very Strong).
“Standard and Poor’s affirmation is further indication that our continued conservative approach to management is contributing positively to our overall growth strategy,” said OneAmerica Chairman, President and CEO Dayton H. Molendorp. “While remaining a mutual organization and building strength and long-term value for our customers, we are living up to our promises and continuing to find additional ways to best serve our policyholders.”
In the report issued by S&P, the rating agency cited several strengths including:
• OneAmerica's combined competitive position is very strong, due to the competitive strength and diversity of its business lines.
• Capital adequacy is very strong.
• The investment portfolio is high-quality and very conservatively managed, with very strong liquidity.
• Strong, well-developed and clearly articulated risk management culture.
Standard and Poor’s noted that OneAmerica's commitment to mutual values, policyholder protection, profitable growth and geographic expansion has served the company well in the turbulent market environment.
Standard and Poor’s outlook for the company stated:. “If OneAmerica is able to continue to generate significantly, above-average growth in its core retirement and individual businesses while maintaining very strong profitability in its core lines, then the outlook could be revised to positive or the ratings could be raised by one notch.”
1. OneAmerica’s third insurance operating subsidiary, Pioneer Mutual Life is not rated by Standard and Poor’s. Pioneer Mutual Life is rated A “Excellent” by A.M. Best.
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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