Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
INDIANAPOLIS (March 31, 2014) — J. Scott Davison, CLU, ChFC, will begin serving as chief executive officer for the companies of OneAmerica® on April 1, 2014. A 28-year industry veteran, Davison has held various leadership roles in his 14 years at OneAmerica including chief financial officer, executive vice president and, most recently, as president since August 2013.
Davison, 50, steps into the role following Dayton Molendorp’s retirement<http://distribution.mymediainfo.com/lists/lt.php?id=fB8LBlRUCVMBB08MUAZQAE9WVFcIBAM%3D> on March 31, 2014. Molendorp remains the non-executive chairman of the board of OneAmerica and its parent company American United Mutual Insurance Holding Company (AUMIHC).
“I look forward to serving OneAmerica on behalf of our customers,” said Davison. “Using our founding principles of excellence, strength and growth, we will continue to deliver products and services that add real value to our customers and address their retirement income, long-term care and life and disability insurance protection needs.”
Under Davison’s leadership, OneAmerica has plans to grow assets under administration from a record $36.4 billion in 2013 to $50 billion in three years. To achieve this milestone, the company will add up to 50 staff positions in 2014, grow its sales force and invest more than $100 million in new technology and service capabilities in next three years.
Growth already in motion
The company has already achieved notable results. Since 2004, in Molendorp’s tenure as CEO, OneAmerica:
* Nearly tripled sales from $833 million to $2.4 billion—an average growth rate of 12 percent.
* More than doubled assets under administration from $15 billion to more than $36 billion.
* More than doubled operating income.
* Experienced the lowest investment losses in the industry during each of the financial crisis years.
* Received ratings upgrades from two ratings agencies. OneAmerica now carries financial strength ratings that are among the top 7 percent of all life insurance groups.
The companies of OneAmerica also had a record-breaking year in 2013<http://distribution.mymediainfo.com/lists/lt.php?id=fB8LBlRUCVMBAE8MUAZQAE9WVFcIBAM%3D> with all–time highs in sales, benefits paid, assets, premiums and capital.
“We have aspirations to serve and reach more people and significantly grow our footprint in the U.S. financial services market,” said Davison."Together our talented team of associates and the trusted advisors we work with will drive the next generation of growth at OneAmerica.”