Even though the financial markets and economy had a volatile year, Ohio National had a record year for their earnings, capital growth, and sales. Their industry was quite challenged this past year with low interest rates and volatile equity markets, but they maintained their strong capital position and excellent ratings.
With variable annuity sales of $1.6 billion in 2011, Ohio National increased their total by 8.5% over 2010. Last year they focused on protection and guarantees, and in January 2012 were able to bring on new withdrawal benefit riders and different managed volatility funds. Their individual life insurance sales increased 4.7% to $118.8 million. This is the 22nd year in a row that they have seen an increase, something no other insurance company has ever done.
Ohio National’s total assets went up 3.3% and their core earnings increased 5.6% from 2010 to 2011. Their capital position is very strong and increasing and all participating whole life insurance policyholders received a dividend payout for the 88th year in a row. Gross broker/dealer concessions increased 7.8% and they added over 2,000 financial representatives last year.
Financial strength ratings have been high and unchanged since 1991. Standard & Poor’s rates Ohio National “AA”, or very strong. Their A.M. Best rating is “A+”, or superior. And Moody’s rates Ohio National A1, their 5th highest rating on a scale that goes to 21. Ohio National was voted one of the best places in Cincinnati to work last year by Enquirer Media. They also donated over $1 million to local charities in 2011 and saw their 5th and 6th (out of 10) Habitat for Humanity houses built. Ohio National is on a strong path into the future.
Written by Rachel Summit
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