Ratings reflect company's 'Built to Last' commitment as financial first responder
INDIANAPOLIS, Sept. 28, 2022 /PRNewswire/ -- OneAmerica® today announced that A.M. Best and S&P Global Ratings have each separately recognized American United Life Insurance Company® (AUL) and its affiliate The State Life Insurance Company® (State Life), both OneAmerica companies, for their financial strength.
A.M. Best affirmed an A+ (Superior) rating, which is the second-highest of 15 rating categories assigned by the independent agency in evaluating financial strength and performance of the OneAmerica companies and their ability to meet existing financial obligations.
S&P Global Ratings (formerly Standard and Poor's) affirmed an AA- rating, its fourth-highest of 22 possible ratings, for the OneAmerica life insurance companies, AUL and State Life.
"During 2021, OneAmerica was called upon to be the financial first responder for more families than ever before, being there when we were needed and paying out a record $7 billion to our customers," said Scott Davison, chairman, president and CEO of OneAmerica. "Despite the challenges of the pandemic, we had our strongest financial year to date with our mutual structure ensuring these resources stay within the company while protecting our customers and providing additional products and services."
"These ratings results give proof points to being 'built to last' and provides assurance that we are able to deliver on our promises and uphold our mission to provide great products, exceptional service and relationships that customers can depend on for a lifetime," Davison added.
The insurance companies of OneAmerica are among the 8% of U.S. life insurers with an A.M. Best rating of A+ (Superior) or higher and a S&P rating of AA- or higher.1
Best Review® also reported that 2022 marks the 72nd consecutive year that AUL has received an "A" rating or higher, placing it among the top 35 life/health groups with consecutive high ratings performances.2
A.M. Best determines its ratings through its Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the rating criteria employed in the rating process.
OneAmerica is the marketing name for the companies of OneAmerica. Products issued and underwritten by AUL and State Life.
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.
To learn more about our products, services and the companies of OneAmerica, visit oneamerica.com/companies. To learn more about our financial ratings, visit https://www.oneamerica.com/about-us/financial-strength-ratings. To review our 2021 annual report, visit here.
About A.M. Best Company
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
AUL and State Life were rated A+ by A.M. Best on August 17, 2022. AUL and State Life were rated AA- by S&P on August 12, 2022. These ratings reflect rating agency assessments of the financial strength and claims-paying ability of the companies of OneAmerica. They are not intended to reflect the investment experience or financial strength of any variable account, which is subject to market risk. Because the dates are only updated when there's a change in the rating, the dates above reflect the most recent ratings we have received. Please know that these ratings can change at any time.
Lou Ann Baker, Director, Public Relations
email@example.com , 317.513.1284
1 Calculated by OneAmerica based on data provided by S&P Global Market Intelligence, data linked, 8/22/22
2 Standing the Test of Time," Best's Review July 2022
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