Financial results

Strong results and financial stability

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

2021 consolidated financial results for Ohio National Mutual Holdings, Inc. (ONMH)

Balance sheets in thousands 2021 2020
Bonds, notes and other debt securities $10,713,583 $10,683,540
Mortgage loans on real estate 1,577,560 1,474,388
Other invested assets 2,638,866 2,700,494
Total invested assets 14,930,009 14,858,422
Other general account assets 6,488,574 6,746,395
Total general account assets 21,418,583 21,604,817
Separate account assets 19,376,463 19,486,193
Total assets $40,795,046 $41,091,010
Future policy benefits and claims $16,862,670 $16,624,579
Other general account liabilities 1,133,832 1,165,892
Long-term debt 976,725 975,910
Total general account liabilities 18,973,227 18,766,381
Separate account liabilities 19,376,463 19,486,193
Total liabilities 38,349,690 38,252,574
Total equity 2,445,356 2,838,436
Total liabilities and equity $40,795,046 $41,091,010
Additional balance sheet performance measures
Total capital (equity plus long-term debt) $3,422,081 $3,814,346
Equity (excluding AOCI) $2,251,446 $2,348,803
Total assets (excluding ACOI) $40,443,669 $40,357,029

Statements of operations in thousands 2021 2020
Net policy fees, charges and premiums $1,672,417 $1,573,767
Net investment income 494,729 441,667
Net other income including realized gains and (losses) 179,318 166,350
Total revenue $2,346,464 $2,181,784
Benefits paid or credited to policyholders or beneficiaries1 $1,726,481 $1,562,472
Other expenses 653,277 621,798
Total benefits and other expenses $2,379,758 $2,184,270
Loss before income taxes $(33,294) $(2,486)
Income tax expense (benefit) 51,856 (2,534)
Net (loss) income  $(85,150) $48
Additional statements of operations performance measures
Total revenue excluding realized gains and (losses) $2,384,583 $2,211,251
Core earnings2 $148,004 $152,800

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 operations are excerpted and condensed from the organization’s 2021 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.
Circle chart showing General Account Assets invested is 13.8 billion.
 Image description
Circle chart showing Investment portfolio bond quality.
 Image description

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 9-10-21.

2021 financial highlights (printable)

Corporate PROFILE