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2022 Annual Report

Our outstanding financial performance is fueling our ability to deliver valuable financial solutions to you at every stage of life’s journey.

Download the 2022 Annual Report

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2022 Annual Report

A Human Institution Serving Human Needs

Born as a modest, door-to-door insurance company during America's industrial age — and built to last — Western & Southern Financial Group is today among the financially strongest life insurance groups in the world.

We have endured and thrived because we never lost sight of our purpose: to use our financial strength to provide financial security to those we serve. We earn your trust by operating with integrity, making sensible decisions, and faithfully honoring our promises today, tomorrow and always.

Our family of companies continues to grow and diversify, fortifying our financial foundation and embracing new opportunities to meet your needs through superior service and an ever-expanding range of insurance, investment and retirement solutions.

We have always been a human institution serving human needs, committed to helping you live the life you want to live. This organizing principle united our founders and remains our mission today.

Download the 2022 Annual Report (PDF)

Message from Our Chairman

"What drives our continued strong financial performance and makes us a truly incredible company is our corporate culture."

John F. Barrett, Chairman, President and Chief Executive Officer

Download John Barrett's Message (PDF)

Our Ratings

Financial ratings from independent rating agencies — A.M. Best, Standard & Poor’s, Fitch and Moody’s — are solid indicators of our financial strength and stability.

Western & Southern’s seven life and health insurance companies — The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Columbus Life Insurance Company, Gerber Life Insurance Company, Integrity Life Insurance Company, National Integrity Life Insurance Company and The Lafayette Life Insurance Company — maintain very strong financial ratings.

Gerber Life is rated only by A.M. Best with a rating of A/Excellent for its excellent ability to meet ongoing insurance obligations (third highest of 13 ratings, held since January 2019). Lafayette Life is not rated by Moody’s.

Record Results

Western & Southern achieved record results in many areas in 2022.

$67.5 Billion

assets owned

$6.2 Billion

total revenue

$10.4 Billion

life and health premiums and annuity sales

$2.1 Billion

life and health premiums

$8.3 Billion

annuity sales

Member Company Highlights

The financial solutions delivered by each of our member companies helped our company finish strong in 2022.

Columbus Life Insurance Company

New life insurance sales exceeded $40 million while annuity sales climbed by more than 30%.

Eagle Realty Group, LLC

Achieved record operating income of $70.9 million from its real estate portfolio, an 81% increase over 2021.

Fabric by Gerber Life

The digital platform acquired in 2022 achieved record sales and launched a new product to serve the middle market.

Fort Washington Investment Advisors, Inc.

All of the firm’s equity strategies exceeded their respective benchmarks despite a volatile 2022.

Gerber Life Insurance Company

Insurance in force grew to $63.9 billion, while the number of new customers served reached 226,000.

The Lafayette Life Insurance Company

Achieved $70.3 million in operating gain, a record high and the eighth consecutive year of growth.

Touchstone Investments®

Introduced four Distinctively Active® exchange traded funds, a first.

W&S Financial Group Distributors, Inc.

Annuity sales surged by nearly 124% over 2021.

Western & Southern Life

Named a Military Friendly® Employer and Military Friendly® Spouse Employer for the 10th and eighth consecutive year, respectively.

Meet Our Family of Companies

Company Financials

Financial strength is critical to organizations like ours that strive to deliver solid results for you. With a heritage dating back to 1888, the disciplined way we approach our business delivers financial strength that is among the highest in the life insurance industry.

Despite significant economic challenges posed by high inflation, rapidly rising interest rates, a war in Europe, tremendous government spending, and the concurrent effects these had on the financial markets, Western & Southern finished 2022 in excellent shape.

Total revenue chart, achieved record $6.2 billion in 2022

Life and health premiums and annuity sales chart, achieved record $10.4 billion in 2022

Operating income chart, achieved $508.7 million in 2022

Third party fee income chart, achieved $319.8 million in 2022

Assets owned and managed bar chart, achieved $67.5 billion in 2022

13.4% capital to asset ratio, more than double the average capital-to-asset ratio of the 15 largest publicly traded life insurers doing business in the U.S.

Detailed Financial Results

Father with son walk with beagle dog and enjoy warm autumn day

Our Solutions

Our customers have been at the heart of our business since our founding as The Western and Southern Life Insurance Company in 1888. With 6.5 million customers and growing, we strive to deliver financial solutions from the member companies of Western & Southern Financial Group to help those we serve pursue financial security and peace of mind.

Learn More About Our Products

Giving Back

Our customers and communities are at the center of everything we do, and we are proud to put our financial strength to work for them every day. We give back the way we do business — by taking a customer-focused long-term view, making sensible decisions, and executing with a spirit of teamwork and collaboration.

The causes we support focus on major local events, human services, education, health care and the arts. See University of Cincinnati Economics Center findings to learn more about our impact in the community.

Learn More About Our Community Involvement

Our Culture

Culture is a way of life shared by a group of people — how we act, what we believe, how we treat one another, and what we value. At Western & Southern, where we focus on creating value through everything we do, we believe our culture sets us apart.

Learn More About Our Culture

Our Careers

We provide meaningful and challenging work for our associates at both our Cincinnati home office and at field offices in many states. We also offer an outstanding benefits package that includes a defined benefit pension plan and 401(k) match so our associates can enjoy financial security and a rewarding career they cannot find anywhere else.

Explore Our Careers

Our Leadership

Our leadership team brings a wealth of knowledge and deep experience in the financial services industry that guides every step we take to deliver financial security to you, your families and business partners.

Life Insurance

Retirement

Investments

Personal Finance