OneAmerica achieves record results in 2012
March 28, 2013 by Jim Gavin
Contact: Jim Gavin, Media Relations Manager (317) 285-4168 or jim.gavin@oneamerica.com
Indianapolis (March 28, 2013) – The companies of OneAmerica® achieved record overall sales in 2012, breaking the previous high water mark for the financial services enterprise set in 2011. The growth was driven by total individual life sales and 401(k) sales, both of which increased 24 percent over previous records set in 2011.
“In addition to setting new standards for sales growth with our core products, OneAmerica also celebrated a new record of $1.8 billion of benefits paid to customers in 2012,” said Dayton Molendorp, chairman, president and CEO. “As a mutual organization, every promise we make is intentionally focused on delivering customer value over the long run. In 2012 we continued to achieve the excellent results needed to support our ability to deliver on those promises.”
Over the last six years, OneAmerica sales have achieved a compounded annual growth rate of 14 percent. Its investment portfolio remains among the best in the industry with an investment yield that continues to beat the industry average. The yield as of December 31, 2012, was 5.4 percent – compared to the industry average of 4.9 percent. Combined with investment results, the strong business growth drove a 3 percent increase in net income to $110.1 million.
Other records achieved by the OneAmerica companies in 2012 include:
• Total premiums and trust deposits
• Net cash flows
• Assets under administration
In addition, OneAmerica continues to achieve exceptional business retention in excess of 95 percent and now serves nearly 2.4 million customers. Total available capital for the enterprise grew to $1.5 billion. OneAmerica continues to maintain Standard & Poor’s AAA-level capital.
The continued financial strength of the OneAmerica enterprise was validated by major ratings agencies in 2012. A.M. Best affirmed the A+ (Superior) rating it assigned to OneAmerica companies American United Life Insurance Company® (AUL), State Life and Pioneer Mutual Life Insurance Company in 2011. A+ (Superior) is the second highest of 16 possible ratings. In addition, the AA- (Very Strong) rating assigned to AUL and State Life by Standard & Poor’s was affirmed – the fourth highest of 21 possible ratings.
About OneAmerica OneAmerica Financial Partners, Inc. (www.oneamerica.com), headquartered in Indianapolis, Ind., has companies that can trace their solid foundations back more than 135 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.
Follow OneAmerica on Twitter at @OneAmericaNews.
