OneAmerica sets new records for growth and financial strength in 2010
Total sales up 24 percent from 2009; investment success drives total assets up 12 percent
Contact:
Jim Gavin, Media Relations Manager
(317) 285-4168 or jim.gavin@oneamerica.com
For Immediate Release:
Indianapolis (March 15, 2011) – OneAmerica set new records for sales, assets, earnings, capital and sales force growth in 2010, capitalizing on the strength with which it emerged from the economic crisis. Led by a 55 percent increase in individual life insurance sales, total sales grew by 24 percent over 2009. In addition, total assets reached a record $24.4 billion – a 12 percent increase.
“Customers and financial professionals continue to appreciate and respond to our ability to deliver a combination of value, stability and performance,” said Dayton Molendorp, chairman, president and CEO. “As a mutual enterprise, all of our profits stay in the company, which means we can continually enhance our product offerings and invest in customer service. It’s a successful formula for building strength, and it’s why we can stack record on top of record as we did again in 2010.”
OneAmerica’s record-breaking 2010 sales growth far outpaced the industry as a whole. Highlights include:
OneAmerica 2010 Growth Industry 2010 Growth1
Individual Life Sales +55% +10%
Individual Annuity Sales +17% -7%
401(k) Sales +26% -7%
Group Disability Sales +20% -15%2
Stop Loss Sales +6% Not available
In addition to sales growth, OneAmerica continued to see excellent results from its investment portfolio – one of the strongest in the industry – with no bond or mortgage impairments in 2010 and a yield on invested assets that was above the industry average. OneAmerica’s strength was also evident in its financial ratings. While more than 80 percent of large life insurance companies have been subject to negative ratings actions during the past two years, the financial strength ratings for the OneAmerica companies were affirmed in 2010. The companies of OneAmerica also expanded their individual sales team, which now boasts more than 1,000 career agents nationwide for the first time in the history of the enterprise.
“OneAmerica’s strength and value proposition are attracting some of the strongest professionals in the industry to our team,” added Molendorp. “We achieved these gains while continuing to strengthen our commitment to customers through the personal service and value these professionals and our 1,600 employees deliver every day.”
1. Source: LIMRA through 12/31/10
2. Source: LIMRA through 9/30/10
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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