Financial results

Strong results and financial stability

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

2020 consolidated financial results for Ohio National Mutual Holdings, Inc. (ONMH)

Balance sheets in thousands 2020 2019
Bonds, notes and other debt securities $10,683,540 $9,984,771
Mortgage loans on real estate 1,474,388 1,446,093
Other invested assets 2,700,494 2,066,213
Total invested assets 14,858,422 13,497,077
Other general account assets 6,746,395 6,991,339
Total general account assets 21,604,817 20,488,416
Separate account assets 19,486,193 19,926,103
Total assets $41,091,010 $40,414,519
Future policy benefits and claims $16,624,579 $15,929,261
Other general account liabilities 1,165,892 949,093
Long-term debt 975,910 953,878
Total general account liabilities 18,766,381 17,832,232
Separate account liabilities 19,486,193 19,926,103
Total liabilities 38,252,574 37,758,335
Total equity 2,838,436 2,656,184
Total liabilities and equity $41,091,010 $40,414,519
Additional balance sheet performance measures
Total capital (equity plus long-term debt) $3,814,346 $3,610,062
Equity (excluding AOCI) $2,348,803 $2,348,078
Total assets (excluding ACOI) $40,357,029 $39,923,890


Statements of income in thousands 2020 2019
Net policy fees, charges and premiums $1,573,767 $1,593,587
Net investment income 441,667 524,794
Net other income (loss) including realized gains and (losses) 166,350 222,088
Total revenue $2,181,784 $2,340,469
Benefits paid or credited to policyholders or beneficiaries1 $1,562,472 $1,680,366
Other expenses 621,798 748,829
Total benefits and other expenses $2,184,270 $2,429,195
Income (loss) before income taxes $(2,486) $(88,726)
Income tax (benefit) (2,534) (31,244)
Net income (loss) $48 $(57,482)
Additional statements of income performance measures
Total revenue excluding realized gains and (losses) $2,211,251 $2,289,986
Management operating earnings (core earnings)2 $161,000 $171,056
Dividends paid to policyholders $114,097 $115,392

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 2020 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.
Circle chart showing General Account Assets invested is 12.1 billion.
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Circle chart showing Investment portfolio bond quality.
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Additional resources

Ratings

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

A3

Moody’s

A

A.M. Best

A-

Fitch

“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: ambest.com/ratings, moodys.com/insurance, and fitchratings.com. Ratings are accurate as of 9-10-20.

2020 financial highlights (printable)

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