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Ohio National Life Insurance Company |
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Company Address: |
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One Financial Way, Cincinnati, Ohio 45242 |
Company Website: |
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www.ohionational.com |
About: |
Ohio National is committed to building long-term relationships with our
customers and providing them with financial solutions as their needs change over
time. Life changes. We'll be there.®
Ohio National Financial Services, through its affiliated insurance
companies (The Ohio National Life Insurance Company and Ohio National Life
Assurance Corporation), markets a variety of insurance and financial products in
47 states (all except Alaska, Hawaii and New York), the District of Columbia and
Puerto Rico, with subsidiary operations in Santiago, Chile, including: |
- Individual life insurance
- Individual disability income insurance
- Individual annuities
- Group annuities
- Broker-dealer services
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A Message From A.M. Best: |
The A.M. Best Company has reaffirmed Ohio National's "A+ Superior" rating (based upon balance sheet strength, operating performance and business profile), the second-highest rating on a 16-part scale.
In its review of 2009 financial reports and operations, A.M. Best noted Ohio National's "strong risk-adjusted capitalization, positive net operating gains recorded in 2009 and the improved position of its investment portfolio." Best also cited other positive rating factors, including a year-over-year increase during the first quarter 2010 in net operating gains, surplus and ordinary life sales. In addition to reaffirming the A+ rating, A.M. Best upgraded the rating outlook for Ohio National to 'stable.'
The A. M. Best reaffirmation comes after positive reviews for The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation by two other major rating analysts this spring. In April, Standard & Poor's also reaffirmed its "AA" (very strong) rating (based on financial security characteristics) for Ohio National's claims-paying ability; this rating is the third-highest on S&P's 21-point scale. Additionally, on April 20, Moody's Investors Service noted Ohio National's "A1" rating (for insurance financial strength) after reviewing Ohio National's operations in connection with a senior notes offering.
"Ohio National was one of the few financial companies to have our excellent ratings reaffirmed in 2009, a time of unprecedented marketplace turmoil," said David B. O'Maley, Chairman, President and Chief Executive Officer. "With the analysts' ratings reaffirmations in 2010, it's important to note that our financial strength and claims-paying ratings have not changed since 1991 - a record of stability that provides important reinforcement of our enterprise's significant financial strength and very positive positioning."
In its review, Best also noted that "Ohio National benefits from a diversified business profile with broad competitive product offerings .It also benefits from an efficient expense structure, effective asset/liability management and a disciplined approach to (interest rate) spread management."
Ohio National has earned A.M. Best's A+ financial strength rating, or its equivalent, every year since 1964. The company's "A1" rating from Moody's, fifth-highest on a 21-point scale, was most recently reaffirmed in July 2009. |
History: |
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Ohio National Financial Services is the marketplace name for the affiliated companies of The Ohio National Life Insurance Company, headquartered in Cincinnati, Ohio. Originally founded as a stock company in 1909, Ohio National converted to mutual company status in 1959. In 1998, Ohio National reorganized as a mutual insurance holding company. The mutual insurance holding company is Ohio National Mutual Holdings, Inc.; the intermediate holding company is Ohio National Financial Services, Inc. |
2008 Financial Highlights: |
- GAAP equity (excluding FAS 115) was reported at $1.53 billion, an 8.7 percent
increase, and representing a 10-year compound annual growth rate of 9.2 percent.
- Pre-tax operating earnings climbed to $386.1 million, a 125.4 percent increase.
- Net income (after tax) climbed to $146.3 million, a 26.4 percent increase.
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Company Ratings: |
| Agency |
Rating |
Description |
| A.M. Best |
A+ |
Superior |
| Standard & Poor´s |
AA |
Very Strong |
| Moody´s |
A1 |
Good |
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