CINCINNATI, Nov. 28, 2006 (PRIME NEWSWIRE) -- The Western-Southern Life Assurance Company (Western-Southern) has been approved for membership at the Federal Home Loan Bank of Cincinnati (FHLBank). Rated Superior by A.M. Best Co., Western-Southern is the 10th insurance company to join the FHLBank and is among more than 125 insurance companies in the 12-district FHLBank System. Western-Southern is a subsidiary of Western & Southern Financial Group(r)(Western & Southern), a Fortune 500 company with assets owned and under management in excess of $40 billion.
Membership allows Western-Southern to take advantage of the FHLBank's product line of financial services including low-cost advances, which can be used for funding agreements and general asset/liability management as well as financing.
"We are pleased to have such a high-quality insurance company as a member of the Federal Home Loan Bank of Cincinnati," said David Hehman, CEO of the FHLBank. "This relationship better positions our two companies to expand and support the housing finance market."
"Western & Southern believes that membership in the FHLBank is important for both organizations," said John F. Barrett, chairman, president and CEO of Western & Southern. "We are pleased to have joined FHLBank and look forward to a long and productive partnership."
About Western & Southern Financial Group(r)
Western & Southern Financial Group (W&SFG) is a Cincinnati-based diversified family of financial services companies with assets owned and under management in excess of $40 billion. A Fortune 500 company, W&SFG has received A.M. Best's highest rating of A++ Superior for financial strength, is one of the 10 highest rated life insurance groups in the world based on Standard & Poor's ratings, and is consistently recognized by Moody's and Fitch for financial strength and sound management. (Ratings refer to the financial strength of the insurance company and not to the safety, stability or performance of any investment product.) With a heritage dating to 1888, the groups affiliates include The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Capital Analysts Incorporated (1,2), Columbus Life Insurance Company, Eagle Realty Group LLC, Fort Washington Investment Advisors Inc.(1), Fort Washington Savings Company(3), IFS Financial Services Inc., Integrated Investment Services Inc., Integrity Life Insurance Company, The Lafayette Life Insurance Company, National Integrity Life Insurance Company, Todd Investment Advisors Inc.(1), Touchstone Advisors Inc.(1), and Touchstone Securities Inc.(2). For more information, visit www.westernsouthern.com. W&SFG is the title sponsor of the Western & Southern Financial Group Masters and Women's Open tennis tournaments.
(1) A registered investment advisor. (2) A registered broker-dealer and member NASD/SIPC. (3) Member FDIC.
The Federal Home Loan Bank of Cincinnati is a $79.9 billion, triple-A rated regional wholesale bank providing financial services for residential housing and economic development to 739 member financial institutions located in the Fifth FHLBank District of Kentucky, Ohio and Tennessee. The FHLBank System, including 12 district FHLBanks, was chartered in 1932 by the U.S. Congress to promote housing finance but is wholly-owned by its member institution stockholders and does not use taxpayer dollars.