CINCINNATI, OH--(Marketwire - September 14, 2010) - David B. O'Maley, CLU, ChFC, MSFS, today announced his retirement, effective Nov. 30, as Chief Executive Officer and President of Ohio National Financial Services, positions he has held since Feb. 1994. He will continue as Executive Chairman of the Board of Directors.
O'Maley has recommended that Gary T. "Doc" Huffman, CLU, ChFC, currently Vice Chairman and Chief Operating Officer, become the President and Chief Executive Officer of Ohio National, and it is expected that the Board of Directors will take action at its next regularly scheduled meeting Nov. 5.
Under O'Maley's leadership, Ohio National grew from $4.1 billion assets under management in 1993 to more than $27.0 billion, as of June 2010. The company is a recognized industry leader in providing competitive individual life and annuity products through more than 40,000 distributors nationwide. In the past year, the company:
- Celebrated its 100th anniversary year;
- Was recognized as the #1 Top Workplace in Cincinnati among large companies (Enquirer Media);
- Had total statutory revenues climb almost 11 percent to $4.2 billion;
- Grew individual life insurance sales for the 20th consecutive year -- a record unmatched in the industry;
- Continued its 100-year history of having no layoffs;
- Had each of its excellent ratings reaffirmed by independent rating agencies for nearly 20 consecutive years without change -- and is one of the few financial firms to have its ratings reaffirmed since Sept. 2008.
"I have had the distinct honor to serve Ohio National policyholders for more than 18 years," O'Maley said. "I am both proud and humbled by the growth and success of this exceptional company, having worked side-by-side with many fine people to build this organization into a position of industry leadership.
"During the past two years, we have seen one of the most difficult economic periods of our nation's lifetime," he added. "As often occurs in times of great stress, the real fiber and character of a company emerges. Ohio National has stood tall during this difficult time and has continued to differentiate itself as a 'flight-to-quality' winner. Our corporate results have validated our corporate vision as a road map for growth and financial strength. It brings me great personal and professional pride to have helped guide this very fine company.
"Because Ohio National is a mutual organization, our corporate view and responsibilities to our policyholders are long term. That unwavering focus has served us very well and helped provide disciplined execution throughout our operations to ensure that we serve our policyholders with conservatism and consistency.
"Our view must always be to the future, and as such, I'm very pleased to have recommended to our Board that Doc Huffman be elected as our next President and Chief Executive Officer. There is no question he has the talent, focus and energy to help Ohio National continue to grow and succeed. Additionally, he has a deep love and respect for the positive difference insurance and financial services make in the lives of others," O'Maley said.
"I have enormous respect for the outstanding vision, focus and leadership that David O'Maley brought to Ohio National," Huffman said. "I look forward to continuing to grow our company's position in the marketplace and to reinforce the standards of excellence that David has built."
O'Maley came to Ohio National in March 1992 as Executive Vice President and Chief Marketing Officer, after serving 24 years with Life of Virginia, first as an agent and advancing to senior vice president and a member of its Board of Directors. He was named Chairman, President and Chief Executive Officer of Ohio National in Feb. 1994.
A Long Island, NY native, O'Maley received his bachelor's degree from Florida Atlantic University and has a master's degree in financial services from The American College. Active in the industry and community, he currently serves on the Board of Directors of US Bancorp, the Million Dollar Round Table (MDRT) Foundation and is a member of the Cincinnati Business Community and Director Emeritus of Bridges for a Just Community.
He has served on the boards of the Cincinnati USA Regional Chamber of Commerce, the University of Cincinnati Foundation, the Greater Cincinnati Foundation, the Midland Company, the Metropolitan Growth Alliance and the University of Cincinnati Neurological Task Force. He also served as a board member and President of Cincinnati Country Day School. He served as Chairman of the United Appeal Board and chaired the community-wide United Way Campaign in 1996, raising a record $50 million for community needs.
Additionally, O'Maley is the founder of the Tri-State Warbird Museum, where he currently serves as Volunteer Chairman. Opened in the spring of 2005, this historic aviation museum is dedicated to honoring those who fought for our country's freedom and America's rich aviation history. The museum has the third largest collection of airworthy World War II aircraft, and is located at Clermont County Airport.
O'Maley and his wife, Karen O'Maley, have three children. An active pilot, he enjoys playing golf and spending time with his family.
Huffman joined Ohio National in Aug. 2008 as Vice Chairman, Distribution and advanced to Vice Chairman and Chief Operating Officer in Nov. 2009. He began his career as an agent with Mass Mutual Insurance Company in 1975, advanced through the organization and was elected as Senior Vice President of Marketing in 1998. He joined Union Central Life Insurance in 1999 as Senior Vice President, Individual Insurance, and became President and Chief Executive Officer in 2007 and Chairman, President and CEO in 2008.
Active in the industry and community, Huffman currently serves on the board of The American College, the Dan Beard Council, Boy Scouts of America and Maple Knoll. He is a former chairman of the Life Insurance Marketing and Research Association and is a life member of the Million Dollar Round Table (MDRT). A Kentucky native, he is a graduate of the University of Kentucky. He and his wife, Milly Huffman, have three daughters. A daily runner, he enjoys playing golf and spending time with his family.
Tracing its corporate origins to 1909, Ohio National today markets a variety of insurance and financial products through more than 40,000 representatives in 47 states (all except Alaska, Hawaii and New York), the District of Columbia, Puerto Rico and through subsidiary operations in Santiago, Chile. As of Dec. 31, 2009, its affiliated companies have $26.5 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Named Cincinnati's "#1 Top Workplace" (large category) by the Enquirer Media (June 2010) and "25 Best Medium-Sized Companies to Work for in America" by the Great Place to Work Institute (June 2004), Ohio National has more than 830 corporate headquarters associates. Visit www.ohionational.com for more information.
Contact Information:
Contact:
Adrienne Gutbier, APR
513.794.6254 office
513.520.1612 cellular
One Financial Way
Cincinnati, Ohio 45242
Post Office Box 237
Cincinnati, Ohio 45201-0237
Telephone: 513.794.6100
www.ohionational.com
