Performance metrics indicate the companies of OneAmerica are on pace to set new records for total sales in 2012.
Sales in 401(k) and 403(b) increased 30 percent, sales in asset-based long-term care products increased 12 percent and total individual life sales increased 10 percent, year-over-year.
Highlights from the first half of the year include:
- Record new business of $1.1 billion;
- Record GAAP assets of $27.3 billion;
- Exceptional business retention of 95 percent;
- Total available capital grew to $1.43 billion;
- Strong investment results and business growth drove GAAP pre-tax operating income and net income to $76.6 million and $59.6 million, respectively.
OneAmerica's investment portfolio maintained its quality with below investment grade bonds of only 3.9 percent as of June 30, 2012, compared to an industry average of 6.6 percent. OneAmerica's investment yield was 5.41 percent compared to the industry average of 4.90 percent.
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On May 10, A.M. Best Co. affirmed the A+ (Superior) rating of American United Life Insurance Company (AUL) and its affiliates The State Life Insurance Company and Pioneer Mutual Life Insurance Company, all OneAmerica companies. In August, Standard & Poor's affirmed the AA- (very strong) ratings of AUL and State Life, the fourth highest of 21 possible ratings.
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