2024 Annual Report

Our outstanding financial performance helps fuel our ability to deliver valuable financial solutions to you along life’s journey.

Download 2024 Report

Home
About
Financial Strength
2024 Annual Report

A Human Institution Serving Human Needs

The Western and Southern Life Insurance Company was founded more than 137 years ago to provide life insurance to industrial workers in Cincinnati.

We have grown into a trusted financial services leader because we stay committed to our purpose: to use our financial strength to help 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. Together, we will continue to build a brighter future.

Download the 2024 Annual Report (PDF)

Message from Our Chairman

“Our culture continues to be the key that differentiates us and helps us seize opportunity and consistently outperform our peers.”

- 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 2024.

$7.6 Billion

total revenue

$2.4 Billion

life and health premiums

$80.9 Billion

assets owned

$122.1 Billion

assets owned and managed

$708.1 Million

operating income

$3.5 Billion

net investment income

Member Company Highlights

The financial solutions delivered by each of our member companies were key to our success in 2024.

Columbus Life Insurance Company

Enhanced its indexed universal life (IUL) portfolio with a more streamlined application process, saving time for producers and clients.¹

Eagle Realty Group, LLC

Significantly increased its Private Credit portfolio during just the second year of financing private-equity-backed buyouts among lower middle-market businesses.

Fabric by Gerber Life

Achieved numerous records as Fabric’s online platform helped more middle-market families Plan Like A Parent.^TM

Fort Washington Investment Advisors, Inc.

Celebrated its 35^th year in business with total assets under management of $88.1 billion.

Gerber Life Insurance Company

Introduced the Gerber Life Insurance Family Plan, which includes competitively priced adult term and whole life insurance solutions that allow the policyholder, spouse and children to be covered under one plan.²

The Lafayette Life Insurance Company

Achieved more than $100 million in new life insurance sales, the second highest total ever.

Touchstone Investments^®

Marked 30 years of delivering Distinctly Active^® asset management, and 11 mutual funds earned 4- or 5-star overall ratings from Morningstar.

W&S Financial Group Distributors, Inc.

Achieved annuity sales in excess of $6.5 billion.

Western & Southern Life

Named a Military Friendly Employer for the 12^th consecutive year and Military Friendly Spouse Employer for the 10^th 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.

The U.S. economy ended 2024 with moderate growth, driven by resilient consumer spending and easing inflation. The stock market delivered its best back-to-back annual performance in a quarter century while the labor market remained strong. The Federal Reserve held interest rates steady to support continued stability. Western & Southern’s prudent asset allocation strategy continued to produce strong returns, resulting in meaningful growth for both the business and our customers.

In 2024 total revenue reached a record $7.6 billion

In 2024 life and health premiums reached a record $2.4 billion

In 2024 operating income reached a record $708.1 million

In 2024 net investment income reached a record $3.5 billion

In 2024 assets owned and managed reached a record $122.1 billion

14.9% 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. (3.7% as of Dec 31, 2024).

Detailed Financial Results

Family of three walking together through a field with their bicycles

Our Solutions

We are a human institution serving human needs, offering a wide range of life insurance, investment and retirement solutions that help deliver a secure financial future to our customers.

Learn More About Our Products

Giving Back

We invest in programs and organizations that put people first and advance the common good. Our charitable contributions help support major Cincinnati traditions and health care, education, human services, the arts and our 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 are invested in our associates. Our supportive culture, wide-ranging development opportunities, continuous learning and advancement programs, and a rooted connection to the Cincinnati community make us a great place for a career. Western & Southern is somewhere to grow, lead, win and do good for others.

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 help deliver financial security to you, your families and business partners.

Meet Our Leadership Team