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 legal@ohionational.com 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.
