2019 dividend total will be the company’s highest
CINCINNATI, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Ohio National Financial Services is pleased to announce dividend scales for participating whole life insurance policies will remain unchanged for 2019.
The dividend interest factor remains unchanged through 2019 at 5.40 percent for participating whole life policies in the open block and 4.75 percent for participating whole life policies in the closed block.1
Ohio National has paid dividends each year since 1924, including more than $90 million in dividends to participating policyholders in 2018. The company estimates the 2019 dividend total will exceed $100 million, its highest level ever.
“The unchanged 2019 dividend scales reflect our commitment to provide high value life insurance products to our participating policyholders,” said Christopher A. Carlson, president and chief operating officer of Ohio National. “Paying dividends is one of the most visible ways we deliver on our commitment and we are especially pleased to continue our long history of consistent annual dividend payouts.
“This commitment to policyholders is further enhanced by our recently announced strategy to focus on the life insurance and disability income businesses. By focusing on our historic strengths, we are well positioned for the future to provide long-term benefits to our policyholders,” he said.
Ohio National has consistently received very high marks for financial security and claims-paying ability from the three major independent analysts – A.M. Best, Standard and Poor’s and Moody’s.2
Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico, we provide the insurance products and financial protection our policyholders need. As of December 31, 2017, its affiliated companies have $42.0 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Please visit ohionational.com for more information and for the latest company updates, connect with Ohio National on LinkedIn, Facebook, Twitter and Instagram.
1 On August 1, 1998, Ohio National reorganized as a Mutual Holding Company. The reorganization called for the company to "close off" the block of whole life business written prior to this date so that it would be unaffected by the future experience of the company. This also involved the segregation of specific assets to support the closed block for the protection of the policyholder. The current yields of the portfolios supporting the closed block and our open block diverged in 2010 to the point that two different dividend interest factors were required.
2 All ratings information is according to reports published on: www.ambest.com/ratings, www.standardandpoors.com and www.moodys.com/insurance. For the most current ratings, see www.ohionational.com.
Contact: Susan McDonald, ALMI
513.794.6325 office
513.633.1277 mobile
Lisa Doxsee, APR
513.794.6418 office
513.218.5519 mobile