Financial results

Strong results and financial stability

Our financial position is strong and reflects ongoing discipline and focus on operations and expense management.

2019 financial results for Ohio National Mutual Holdings, Inc. (ONMH)

Balance sheets in thousands 2019 2018
Bonds, notes and other debt securities $9,984,771 $11,910,616
Mortgage loans on real estate 1,446,093 1,335,742
Other invested assets 2,066,214 1,980,030
Total invested assets 13,497,078 15,226,388
Other general account assets 6,943,620 4,463,090
Total general account assets 20,440,698 19,689,478
Separate account assets 19,926,103 19,489,189
Total assets $40,366,801 $39,178,667
Future policy benefits and claims $15,928,507 $15,339,352
Other general account liabilities 939,230 1,031,335
Long-term debt 953,878 853,504
Total general account liabilities 17,821,615 17,224,191
Separate account liabilities 19,926,103 19,489,189
Total liabilities 37,747,718 36,713,380
Total equity 2,619,083 2,465,287
Total liabilities and equity $40,366,801 $39,178,667
Additional balance sheet performance measures
Total capital (equity plus long-term debt) $3,572,961 $3,318,791
Equity (excluding mark-to-market) 2,310,976 2,386,822
Total assets (excluding mark-to-market) 39,876,172 39,033,053

Statements of income in thousands 2019 2018
Net policy fees, charges and premiums $1,593,587 $1,687,725
Net investment income 524,794 553,278
Net other income (loss) including realized gains and (losses) 222,088 147,713
Total revenue $2,340,469 $2,388,716
Benefits paid or credited to policyholders or beneficiaries1 $1,693,108 $1,599,921
Other expenses 748,899 722,174
Total benefits and other expenses 2,442,007 2,322,095
Income (loss) before income taxes (101,538) 66,621
Income tax benefit (33,935) (6,028)
Net income (loss) (67,603) 72,649
Additional statements of income performance measures
Total GAAP revenue excluding realized gains and losses $2,289,986 $2,398,903
Core earnings2 171,056 192,675
Dividends paid to policyholders 115,392 100,620

1 Benefits paid or credited to policyholders or beneficiaries include non-cash items such as change in reserves and accrued benefits.

2 Core earnings include pre-tax operating earnings adjusted for certain items that fluctuate from period to period in a manner unrelated to our core operations.

The balance sheets and statements of income are excerpted and condensed from the organization’s 2019 consolidated financial statements prepared on a Generally Accepted Accounting Principles (GAAP) basis. For a certified copy of the organization’s most recent audited financial statements, please email your request to or mail it to Therese S. McDonough, Secretary, Ohio National Mutual Holdings, Inc., P.O. Box 237, Cincinnati, OH 45201.

General account investment portfolio

Ohio National's general account investment portfolio is well diversified and is primarily allocated to high-quality, long-term bonds:

  • Our investment strategy provides excellent returns over the long term while limiting overall credit, market and interest rate risk.
  • Our disciplined investment guidelines limit exposure to any single asset class.

General Account Assets invested is 12.1 billion. (Excludes Latin American operations). 71.8% investment grade long-term bonds. 11.1% commercial mortgage loans. 7.2% policy loans. 3.7% real estate, equities, other. 2.9% cash and accrued invetsment income. 1.9% non-investment grade long-term bonds. 1.4% investment grade short-term bonds.

Investment portfolio bond quality. (Excludes Latin American operations). 61.6% NAIC 1 A- to AAA. 35.8% NAIC BBB- to BBB+. 2.1% NAIC 3 BB- to BB+. 0.3% NAIC 4 B- to B+. 0.2% NAIC 5 and 6 D to CCC+

Additional resources


We consistently earn high marks for financial security and claims paying ability from independent rating analysts.




A.M. Best



“A3” from Moody’s, is its seventh-highest ranking on a 21-part scale. “A” from A.M. Best Company is its third-highest ranking out of 16 categories. “A-“ from Fitch is its seventh-highest ranking on a 21-part scale. All ratings information is according to reports published on:,, and Ratings are accurate as of 9-10-20.

2019 financial highlights (printable)

  Corporate PROFILE