Western & Southern Financial Group is pleased to report that as of March 31, 2021, the company’s assets owned and managed have surpassed $100 billion.
This is the highest ever in the company’s 133-year history and is a result of record life and annuity premiums, mutual fund sales and a favorable market performance of fixed income portfolios. Specifically, in 2020, life insurance premiums were up by $100 million, and life and health premiums and annuity sales were up by $500 million. Mutual fund assets under management grew from $19 billion in 2019 to $26 billion by the end of 2020.
The record levels of life and annuity premiums were largely due to higher direct-to-consumer sales at Gerber Life Insurance Company, acquired by Western & Southern in 2018, the strength of the distribution relationship Western & Southern has with Fidelity Investments, and continued sales growth among Western & Southern's independent producers.