Loading, Please Wait...
CINCINNATI, OH --(Marketwired - February 12, 2016) - Ohio National Financial Services today announced an unequalled industry record in increased life insurance sales. In addition to a very strong financial report for 2015, the company exceeded 2014 sales or met 2015 sales targets in all of its business categories.
"Ohio National experienced an outstanding year in 2015," reported Gary T. "Doc" Huffman, chairman, president and chief executive officer, at today's board of directors meeting. "We grew our foundational line of life insurance for the 26th consecutive year -- a record in the industry. Moreover, our sales continue to outpace the industry.
"The headwinds in today's marketplace are considerable. Our industry faces changing regulations in addition to volatile equity markets and persistent low interest rates. Despite these challenges, Ohio National has continued to significantly grow our financial strength, our product lines and our distribution capabilities," Huffman added. "We deliver long-term policyholder value today and for generations to come."
"Our balance sheet and capital position are excellent," Huffman noted. "Ohio National's mutual company heritage allows us to take a long-term strategic view and provides a foundation of strength. Our company was built for times like these. Our distributors and policyholders can rest assured in the decision they've made to do business with us."
The company highlighted the following from its 2015 results:
2015 Rating Highlights
Independent industry analysts in the past year reaffirmed Ohio National's very strong financial security ratings. All ratings were also noted as "stable." These included:
2015 Company Recognition
Ohio National was again recognized as a Top Workplace in Cincinnati by Enquirer Media in 2015. This represents the sixth consecutive year for this recognition. The Top Workplace acknowledgment was based on confidential surveys to all associates, including questions related to leadership, direction, environment, communications, trust, work/life flexibility, appreciation and benefits.
2015 Community Stewardship
Ohio National's 13th and 14th Habitat for Humanity homes were constructed in Cincinnati during 2015. The company's overall contribution to the local Habitat for Humanity group since 2009 exceeds $1.2 million. Additionally, The Ohio National Foundation donated more than $1.5 million during 2015 to nonprofit organizations in the Greater Cincinnati area.
|OHIO NATIONAL MUTUAL HOLDINGS, INC.|
|Ohio National Financial Services, Inc.|
|The Ohio National Life Insurance Company|
|Ohio National Life Assurance Corporation|
|Summary Results: Through Dec. 2015|
|Total Equity (billions) (excluding mark-to-market)||$2.0||$1.9||4.2%|
|Total Revenue (billions) (excluding realized gains and losses)||$1.9||$1.8||7.1%|
|Total Assets Under Management (billions)||$40.2||$40.8||(1.4)%|
|Core Earnings (millions)||$190.7||$197.4||(3.4)%|
|Total Life Insurance New Premium (millions)||$156.1||$150.7||3.6%|
|Variable Annuity Sales (billions)||$2.0||$2.3||(13.1)%|
|Retirement Plan Sales (millions)||$142.3||$140.9||1.0%|
|Disability Income Insurance New Premium (millions)||$2.7||$2.2||19.0%|
The financial data presented above is derived from results on the basis of Generally Accepted Accounting Principles (GAAP), except life insurance new premium, variable annuity sales, retirement plan sales and disability income insurance premium. All financial information in this news release is considered unaudited because the final audit process is not yet complete.
Tracing its corporate origins to 1909, Ohio National markets a variety of insurance and financial products through more than 50,000 representatives in 49 states (all except New York), the District of Columbia, Puerto Rico and through affiliated operations in South America. Additional subsidiaries operate in New York and Connecticut. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Ohio National has more than 1,300 associates. Visit www.ohionational.com for more information.
Ohio National has received high marks for financial strength and claims paying ability from major rating agencies; however, such ratings do not refer to the performance of our variable accounts nor imply approval of our variable contracts or their portfolios. All ratings information is according to reports published on: www.standardandpoors.com, www.ambest.com/ratings and www.moodys.com/insurance. Ratings are accurate as of 12/13/15. For the most current ratings, see www.ohionational.com.Dividend scales are subject to change at the discretion of the Board of Directors.
Adrienne Gutbier, APR
Susan McDonald, ALMI