OneAmerica continues run of exceptional results despite volatile economy
Highlights of first half of 2011 include record sales, high customer retention and positive ratings actions
Contact:
Jim Gavin, Media Relations Manager
(317) 285-4168 or jim.gavin@oneamerica.com
Indianapolis (September 16, 2011) – Through the first six months of 2011, OneAmerica has built upon its strong position as a leader in the financial services marketplace. Total sales for the OneAmerica companies during the first six months of 2011 are up 39 percent over last year’s record pace. The strong sales performance has been led by a 115 percent increase in 401(k) sales, an industry that has been flat overall. Persistency rates have also remained strong, finishing at 92 percent through June.
“We continue to rank as one of the fastest-growing large mutual organizations in the country due to our successful strategy and advantage as a mutual organization,” said Dayton H. Molendorp, chairman, president and CEO. “This extraordinary momentum enables us to continue providing long-term value to our customers and delivering on our promises when they need us most.”
OneAmerica’s sales growth for the first half of 2011 has outpaced the industry as a whole in several categories. Highlights include:
OneAmerica 2011 Growth1 Industry 2011 Growth2
401(k) Sales +115% 0%
Retirement not-for-profit +39% -15%
Individual Life Sales +12% +4%
Group Life Sales +35% -2%
Along with strong sales growth, OneAmerica’s investment portfolio continues to be among the strongest in the industry. OneAmerica had no bond impairments in 2011 and, based on available data, our investment losses are the lowest in the industry during the last three years.3 In addition, OneAmerica’s yield on invested assets was above the industry average as it has been for nearly 30 years.
“Our portfolio’s combination of relative safety and performance enables us to deliver both products with strong value and confidence to our customers,” said Scott Davison, executive vice president. “The importance of what we do every day is most evident during times of uncertainty, and we have the answers that our customers are looking for.”
In May, A.M. Best Co. upgraded the OneAmerica companies to A+ (Superior), making the enterprise just the second life insurance organization to receive an upgrade to A+ (Superior) since the beginning of the financial crisis. This is the second highest of 16 possible ratings.4 Then in August, Standard and Poor’s affirmed the OneAmerica companies’ AA- (Very Strong) rating, the fourth highest of 16 possible ratings.5
1. Through 6/30/11
2. Source: LIMRA through 6/30/11
3. Source: SNL Financial
4. Applies to AUL, PML and State Life
5. Applies to AUL and State Life
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.
We deliver on our promises when customers need us most.
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