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2023 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 2023 Annual Report

A Human Institution Serving Human Needs

Born as a modest, door-to-door life insurance company during America’s industrial age in the 1800s, Western & Southern Financial Group is today among the financially strongest life insurance groups in the world.

We endure and thrive because we never lose 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. It remains our mission today.

Download the 2023 Annual Report (PDF)

John Barrett in front of Lytle Park backdrop

Message from Our Chairman

“The power behind our success is the enduring corporate culture we have built and continue to improve every day.”

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

Download John Barrett's Message (PDF)

Our Ratings

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

Western & Southern’s life 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 AM Best, and Lafayette Life is not rated by Moody’s.

Record Results

Western & Southern achieved record results in many areas in 2023.
$7.2 Billion

total revenue

$10.9 Billion

life and health premiums and annuity sales

$75.1 Billion

assets owned

$112.2 Billion

assets owned and managed

$651.3 Million

operating income

$3.0 Billion

net investment income

Member Company Highlights

The financial solutions delivered by each of our member companies helped our company finish strong in 2023.

Columbus Life Insurance Company

Introduced a new indexed universal life policy with its fastest application to issuance process to date (3-5 days).

Eagle Realty Group, LLC

Formed a private credit business unit to finance private-equity-backed buyouts among lower-middle-market businesses.

Fabric by Gerber Life

Launched a Uniform Gifts to Minors Act (UGMA) account, Western & Southern’s first digital direct-to-consumer investment account.

Fort Washington Investment Advisors, Inc.

Outperformed respective benchmarks in 14 of 15 investment strategies since inception.

Gerber Life Insurance Company

Increased customers served to 3.9 million and achieved record operating income of $141.7 million.

The Lafayette Life Insurance Company

Achieved $109 million in operating gain, the sixth straight year of double-digit growth.

Touchstone Investments®

Launched three more Distinctively Active® exchange-traded funds, bringing its total to seven.

W&S Financial Group Distributors, Inc.

Achieved annuity sales in excess of $8.4 billion, marking a record high for the sixth consecutive year.

Western & Southern Life

Increased assets under management in the W&S Wealth Solutions investment advisory services program by 94% over the prior year.
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.

While the U.S. economy avoided a much-anticipated recession in 2023, customers seeking refuge from market volatility turned to Western & Southern for its attractive fixed-period guarantees and consistently high financial strength ratings from independent rating agencies.

In 2023 total revenue reached a record $7.2 billion
In 2023 life and health premiums and annuity sales reached a record $10.9 billion
In 2023 operating income reached a record $651.3 million
In 2023 net investment income reached a record $3.0 billion
In 2023 assets owned reached a record $75.1 billion
In 2023 assets owned and managed reached a record $112.2 billion
14.6% capital-to-asset ratio. Significantly higher than the average capital-to-asset ratio f the 15 largest publicly traded life insurers doing business in the U.S.
Detailed Financial Results
family celebrating with grandparents annuities

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. We continually strive to deliver financial solutions from the member companies of Western & Southern Financial Group to help every customer pursue financial security and peace of mind.
Learn More About Our Products

Giving Back

Doing good for others. That has been the focus of our community support and engagement efforts since our founding in 1888 as The Western and Southern Life Insurance Company. It has meant building strong communities while putting our products, services and solutions to work to help our clients find financial peace of mind.
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

Western & Southern is somewhere to grow, lead, win and do good for others. We provide meaningful and challenging work for our associates at both our Cincinnati home office and at field offices in many states, while offering career growth opportunities to unlock their full potential. We also offer an outstanding benefits package to help our associates secure their financial future.
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.
Meet Our Leadership Team

2023 Annual Report

Take a comprehensive look at our year.

Download the 2023 Annual Report
IMPORTANT DISCLOSURES

See the full 2023 Annual Report for additional information and disclosures.