DENNIS MARTIN, PRESIDENT, INDIVIDUAL LIFE AND FINANCIAL SERVICES
ANDREW MICHIE, CHIEF FINANCIAL OFFICER
Over the last few days, you may have seen news reports about Silicon Valley Bank and resulting concern about the stability of the banking sector. Actions by the Federal Reserve and the U.S. Treasury have been swift, but this remains a developing situation.
In case you’re wondering if OneAmerica® might be impacted, we want to assure you that:
OneAmerica continues to be one of the most financially sound organizations in the insurance industry. That isn’t just our opinion: Independent ratings agencies have placed OneAmerica among the strongest 8% of all life insurers with multiple ratings for many years. We’ve also spent the last 12 months strengthening our balance sheet, so we’re even more well-positioned to weather economic challenges.
For 145 years, the companies of OneAmerica have weathered all kinds of economic storms, including the Great Recession of the mid to late 2000s. Back then, we didn’t just survive; we led our industry. Our steady, disciplined investment process and risk management approach are major reasons why. And in the years since that crisis, our investment strategies have continued to strengthen our long-term financial foundation.
We will continue to monitor this developing situation closely and will provide updates as appropriate.