Fitch views Ohio Nationals risk-adjusted capitalization as strong

Stable outlook reflects Fitchs view the company is well positioned in a challenging external environment

CINCINNATI, July 29, 2020 (GLOBE NEWSWIRE) -- Ohio National Financial Services announced today that Fitch Ratings has assigned ratings for the financial strength of The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation at A- with stable outlook.

The A- rating is Fitchs seventh-highest rating on a 21-part scale. According to Fitch, insurers rated with a category have high credit quality and are subject to low credit default risk.

The rating reflects, in part, the companys insurance operating subsidiaries strong risk-adjusted capitalization and leverage, stable financial performance and conservative investment portfolio. The stable outlook reflects Fitch's view the company is well positioned in an external environment that will present earnings-related pressures over the next 12-18 months.

Highlights from Fitchs release also include:

We are pleased that Fitch highlights our strong capitalization and stable growth in operating earnings, noted Gary T. Doc Huffman, CLU, ChFC, Ohio National chairman and chief executive officer. This rating highlights we are well positioned in the current economic environment as the coronavirus-related economic downturn is creating a severe and extensive credit shock and earnings pressures across many sectors, regions and markets, including the life insurance industry.

Huffman continued, We are successfully executing our strategy, all while maintaining our long-standing financial strength, and we continue to focus on serving our policyholders first.

About Ohio National Financial ServicesSince 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 and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2019, its affiliated companies have $40.5 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Please explore ohionational.comfor more information and for the latest company updates, connect with Ohio National onLinkedIn,FacebookandYouTube.

Lisa Doxsee, APR513.794.6418 office 513.218.5519 mobilelisa_doxsee@ohionational.com

Andy Haskin513.794.6693 office513.608.3763 mobileandy_haskin@ohionational.com

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Fitch assigns 'A-' Insurer Financial Strength rating with stable outlook to the operating insurance subsidiaries of Ohio National Financial Services -...