Standard and Poor's Affirms OneAmerica Ratings, Upgrades Outlook; Ratings Agency Notes Company's Very Strong Competitive Position, Extremely Strong Capitalization and Improved Earnings.INDIANAPOLIS -- Please replace the headline and release with the following corrected version due to multiple revisions. The corrected release reads: STANDARD AND POOR'S Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index AFFIRMS ONEAMERICA RATINGS, UPGRADES OUTLOOK; RATINGS AGENCY NOTES COMPANY'S VERY STRONG COMPETITIVE POSITION, EXTREMELY STRONG CAPITALIZATION capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. AND IMPROVED EARNINGS Standard & Poor's (S&P) announced today that it has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the AA- (Very Strong) insurer financial strength ratings for OneAmerica Financial Partners, Inc., affiliates American United Life Insurance Company(R) (AUL) and The State Life Insurance Company. In addition, S&P affirmed OneAmerica's debt rating of A- (Strong). Outlooks for the ratings have been revised from negative to stable. "S&P's upgrade of our rating outlook to stable is an affirmation A solemn and formal declaration of the truth of a statement, such as an Affidavit or the actual or prospective testimony of a witness or a party that takes the place of an oath. An affirmation is also used when a person cannot take an oath because of religious convictions. of our financial strength, very strong competitive positions in our target markets, and improved earnings," said Dayton Molendorp, OneAmerica president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "S&P has completed a rigorous review of our company and concluded that we continue to meet the high standards of the AA- rating category." In its own press release, S&P cited OneAmerica's "very strong diversified competitive position, extremely strong capital adequacy, very strong investment performance and liquidity, and management's disciplined financial focus," as well as improved operating performance as key factors driving the rating affirmation and revised outlook. Said Molendorp, "As a mutual organization we are focused on delivering on our promises to our policyholders and customers when they need us most. Our financial strength ratings recognize the fact that our customers can count on us for the long term." About OneAmerica OneAmerica Financial Partners, Inc., headquartered in Indianapolis, IN, traces its solid foundation more than 125 years in the insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. marketplace. Sharing common values and objectives, OneAmerica's nationwide network of companies and affiliates offers retirement plan products and services; individual life insurance and annuities; long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. insurance; and group insurance. The company was formed Dec. 17, 2000, as part of the conversion of American United Life Insurance Company(R) (AUL) to American United Mutual Insurance Holding Company (AUMIHC). OneAmerica, a subsidiary of AUMIHC, is not a licensed insurance company. |
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