Molendorp retiring as OneAmerica’s CEO
J. Scott Davison, who was named president of OneAmerica in August, will become president and CEO on April 1.
J. Scott Davison, who was named president of OneAmerica in August, will become president and CEO on April 1.
A big bet on employer-sponsored retirement plans is paying off for locally based OneAmerica Financial Partners, a company best known for its life insurance offerings.
Ten of Indiana’s largest employers—including the state of Indiana; Cummins Inc.; CNO Financial Group Inc.; Indiana, Purdue and Butler universities; and Indiana University Health—think they have hit upon a solution.
Using banks as a sales channel also boosts business in what has been a languishing product segment.
Sales at OneAmerica Financial Partners Inc. surged 29 percent in 2011, on top of a 24-percent jump in 2010, the Indianapolis-based life insurer announced Monday.
OneAmerica earned $15.4 million in the three months ended Sept. 30, down 53 percent from the same quarter a year ago. Most of that difference came from a 17-percent jump in policy benefit payments.
Indianapolis-based firm avoided investment losses suffered by peers during last recession.
The Indianapolis-based life insurer pulled in sales last year of $1.7 billion and boosted its overall assets 12 percent, to $24.4 billion.
With the company recently doubling in size, CEO Dayton Molendorp wanted another executive to guide the company’s further growth.
OneAmerica Financial Partners Inc. last month launched an insurance product aimed at landing far larger retirement plans than it has served before, and significantly growing its assets.
McCready and Keene Inc. is the fifth-largest employee benefits firm in the Indianapolis area. It employs 95 people nationally, 82 of them in Indianapolis, according to IBJ research.
Health care, plastics, other fundamental consumer needs kept some companies on upswings.
OneAmerica Financial Partners Inc. has made no secret of its desire to acquire other companies. Well, if it wants to buy,
it could hardly find a better time.