CINCINNATI, Oct. 06, 2022 (GLOBE NEWSWIRE) — Ohio National Financial Services introduced as we speak that AM Best has affirmed its ratings for the monetary power of The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation at ‘A‘ (Excellent) with stable outlook.
The ‘A’ ranking is AM Best’s third-highest rating out of 16 classes. According to AM Best, insurers rated ‘A’ have “an excellent ability to meet their ongoing insurance obligations.”
AM Best famous Ohio National’s steadiness sheet power, robust working efficiency, impartial business profile and acceptable enterprise threat administration in its ranking of the corporate and subsidiaries.
In its launch, AM Best notes the next:
- “The balance sheet strength is assessed at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR) and is supportive of the stable outlooks.”
- Best expects the latest accomplished demutualization and acquisition by Constellation “to provide ONLIC with more financial flexibility.”
- “Constellation has committed an additional $500 million in capital support over the next four years to support Ohio National Life Group’s current life and annuity liabilities and the maintenance of its strongest level of risk-adjusted capitalization.”
“We are pleased with today’s action by AM Best to affirm our ratings,” said Barbara A. Turner, CRCP, Ohio National president and chief govt officer. “This affirmation acknowledges our continued strategic execution through operating performance and business profile and recognizes the anticipated long-term positive impact from the Constellation transaction we completed in March 2022.”
Turner additionally stated, “We continue to execute our strategy to grow our business and remain committed to our mission and long-term financial strength in support of our policyholders.”
About Ohio National
Since 1909, Ohio National has been dedicated to serving to people, households and companies defend what issues most. Through our community of economic professionals throughout 49 states (all besides New York), the District of Columbia and Puerto Rico and via affiliated operations in South America, we offer the insurance merchandise that assist our policyholders obtain monetary safety and independence. As of December 31, 2021, its affiliated firms have $40.8 billion whole belongings underneath administration. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. The O.N. Equity Sales Company (“ONESCO”) is a full-service dealer vendor and Ohio National Financial Services affiliate. Ohio National is acknowledged as a Leader in Workplace Equity by Ellequate. Please discover ohionational.com for extra info and for the newest firm updates, join with Ohio National on LinkedIn, Facebook and YouTube.
Contact: Lisa Doxsee, APR
513.794.6418 workplace
513.218.5519 cell
[email protected]
