CINCINNATI, OH--(Marketwire - Feb 10, 2012) - Ohio National Financial Services today announced record earnings, sales and capital growth, including an unequalled industry record in individual life insurance sales performance.
"Despite the volatile and uncertain economy, Ohio National experienced a strong year in 2011," reported Gary T. "Doc" Huffman, president and chief executive officer, at today's board of directors meeting. "The volatile equity markets and protracted low interest rate environment created significant challenges for our entire industry. With a steady focus on our enterprise strategy, we have continued to deliver long-term policyholder value by providing the highest quality products with the benefits and protection our customers need."
"Our capital position is excellent, and Ohio National is one of the few financial companies to have all of our excellent ratings reaffirmed by independent analysts between 2008-2011," Huffman noted. "That type of consistent performance and value is what Ohio National is known for in the marketplace."
The company highlighted the following from its 2011 results:
2011 Rating Highlights
Ohio National's ratings have not changed since 1991. Independent industry analysts in the past year reaffirmed the affiliated companies' very strong financial security ratings. These included:
2011 Company Recognition
Ohio National was recognized as a Top Workplaces in Cincinnati (Large Company) by Enquirer Media in 2011, the second consecutive year for this recognition. The Top Workplace recognition was based on confidential surveys to all associates, including questions related to leadership, direction, environment, communications, trust, work/life flexibility, appreciation and benefits.
2011 Community Stewardship
Ohio National's fifth and sixth Habitat for Humanity homes were constructed in Cincinnati during 2011. In recognition of its centennial in 2009, Ohio National made a $780,000 gift to Cincinnati Habitat for Humanity, the largest one-time gift in the local group's history. The funds were designated for the construction of 10 homes over five years in several Cincinnati neighborhoods. Additionally, the Ohio National Foundation donated more than $1 million during 2011 to non-profit organizations in the Greater Cincinnati area.
OHIO NATIONAL MUTUAL HOLDINGS, INC. | |||
Affiliated companies: | |||
Ohio National Financial Services, Inc. | |||
The Ohio National Life Insurance Company | |||
Ohio National Life Assurance Corporation | |||
(Consolidated) | |||
Summary Results: Through Dec. 2011 | |||
12/11 | 12/10 | % change | |
Total Equity (billions)(including FAS 115) | $2.1 | $1.8 | 17.3% |
Total Equity (billions)(excluding FAS 115) | $1.9 | $1.6 | 15.6% |
Total Assets Under Management (billions) | $30.6 | $29.6 | 3.3% |
Core Earnings (millions) | $205.6 | $194.7 | 5.6% |
Total Statutory Surplus (millions) | $908.3 | $860.7 | 5.5% |
The financial data presented above is derived from results on the basis of Generally Accepted Accounting Principles (GAAP), except for surplus. 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 today markets a variety of insurance and financial products through more than 50,000 representatives in 47 states (all except Alaska, Hawaii and New York), the District of Columbia, Puerto Rico and through subsidiary operations in Santiago, Chile. Products are issued by The Ohio National Life Insurance Co. and Ohio National Life Assurance Corporation. Ohio National has more than 925 corporate headquarters 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.
Dividend scales are subject to change at the discretion of the Board of Directors.
Contact Information:
Adrienne Gutbier, APR
513.794.6254 office
513.508.9436 cellular