|By Marketwired .||
|July 22, 2014 01:00 PM EDT||
CINCINNATI, OH -- (Marketwired) -- 07/22/14 -- Ohio National Financial Services is pleased to announce that Standard & Poor's has reaffirmed its "AA-" insurance financial strength ratings for The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation.
The "AA" rating is the fourth highest rating on a 21-part scale.
With the announcement, Ohio National's excellent ratings have been reaffirmed by the A.M. Best Company and Standard & Poor's since the beginning of the year.
In its announcement, Standard & Poor's noted Ohio National's "very strong competitive position supported by a long track record of year-over-year consecutive sales growth" and "very strong capital and earnings."
"Standard & Poor's reaffirmation provides additional reinforcement of Ohio National's excellent financial strength and positioning," said Gary T. "Doc" Huffman, Ohio National chairman, president and chief executive officer. "Further, it reinforces our policyholder long-term value proposition. Our current and potential clients, sales associates and distribution partners can continue to place the highest confidence in Ohio National.
"Our overall corporate financial strength, capital strength and performance are very strong, and we continue to outperform the industry in many areas," Huffman added.
The S & P report also noted that Ohio National's investment portfolio is "well diversified with limited high-risk assets." S & P considers the company's management to have a "track record of effective strategic planning and strong execution."
Earlier this year, the A.M. Best Company has reaffirmed the financial strength rating of "A+ (Superior)" for both The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. This was the 51st consecutive year for Ohio National to receive A.M. Best's "A+ (Superior)" rating, which is the second-highest on a 16-part scale.
Tracing its corporate origins to 1909, Ohio National 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 affiliated operations in South America. Additional subsidiaries operate in New York and Connecticut. As of Dec. 31, 2013, its affiliated companies have $38.8 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation and National Security Life & Annuity Company in New York. Named Cincinnati's "#1 Top Workplace" (large category) by the Enquirer Media (June 2010, 2012, 2013 and 2014). Ohio National has more than 1,000 associates. Visit www.ohionational.com for more information.
Adrienne Gutbier, APR
One Financial Way
Cincinnati, Ohio 45242
Post Office Box 237
Cincinnati, Ohio 45201-0237