As the pandemic experience continues to recede and the world regains some normalcy, OneAmerica? looks back on the past year with noted achievements, including strong capital levels, profitable growth and nearly $98 billion in assets under administration. The mutual organization's financial strength and stability were again affirmed by national ratings agencies, despite the challenges of the COVID-19 pandemic and global economic uncertainty.

"In 2020, we became a financial lifeline for those who needed us," said Scott Davison, OneAmerica Chairman, President and CEO. ""Even amid the chaotic disruption, OneAmerica had a strong year, exceeding our profit goal, increasing assets under administration to nearly $98 billion and strengthening our balance sheet through a highly successful senior notes offering."

OneAmerica continued its unwavering commitment to customers, delivering on claims, life insurance dividends and more than a 300% increase in complex hardship loans to those in emergency financial situations. 

"Ultimately the most important measure of success we track is the $6 billion we paid out to customers," added Davison.  "We maintained our superior financial strength ratings, and as a mutual organization, our profits stay in the company to be invested in people, new technology and to support our long-term financial stability."

Assets under administration for the enterprise increased nearly 13% to $97.7 billion, with a compounded annual growth rate of 6% over the past five years, while the enterprise customer-retention rate increased to 94%.

While sales were less than originally projected, net income was $129.0 million, 12.3% higher than 2019, demonstrating the diversification and strength of the companies of OneAmerica in a very challenging environment. 

Foundationally, the continued financial strength of OneAmerica was noted by major rating agencies, providing assurance that its stability and governance were made to weather the uncertainties, just as they have previous historic economic conditions. 

A.M. Best affirmed the A+ (Superior) rating for OneAmerica companies American United Life Insurance Company? (AUL) and The State Life Insurance Company? (State Life) on July 31, 2020. A+ (Superior) is the second highest of 15 possible ratings.  In addition, the AA- rating assigned to AUL and State Life by Standard & Poor's (S&P) was also affirmed on Sept. 14, 2020 – the fourth highest of 22 possible ratings.

OneAmerica remains among the top 8% of insurance companies, with both an A.M. Best rating of A+ or higher and S&P rating of AA- or higher*, and last year celebrated the 75th consecutive year for one of its companies, AUL, to be rated A or higher by A.M. Best.  The historic ratings distinction places OneAmerica among the longest running top 20 of A.M. Best-rated insurance firms.

Additional information on OneAmerica is also available via the 2020 Annual Report, which includes not only financial data but updates on OneAmerica expanded efforts into national and community leadership roles, and commitment to addressing racial inequities and improving opportunities for all.

*Calculated by OneAmerica based on data provided by S&P Global Market Intelligence February 5, 2021. Dividends are not guaranteed.

About OneAmerica

A national provider in the insurance and financial services marketplace for more than 140 years, the companies of OneAmerica help customers build and protect their financial futures. OneAmerica offers a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset based long-term care solutions and employee benefit plan products.

Products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees, agents, brokers and other sources that are committed to providing value to our customers.