Fortune magazine released its latest Fortune 500 list today, and Western & Southern Financial Group ranks No. 476 (up seven spots from last year’s ranking of 483) with $5.836 billion in revenue for 2017.
Western & Southern is among 18 life and health insurance companies on the Fortune 500. The list includes 25 Ohio companies and nine from the Greater Cincinnati area – more than any other city in Ohio, Indiana or Kentucky.
Fortune uses revenue reported on a statutory accounting basis in ranking companies for the Fortune 500 list. Because of that, the numbers differ from the GAAP (Generally Accepted Accounting Principles) numbers typically cited.
We remain one of the strongest life insurance groups in the world.
"This ranking is based on revenue alone, but it is a ratification of our efforts to grow our business," said John F. Barrett, Western & Southern’s chairman, president and chief executive officer. "More important to the long-term strategy for our business is our financial strength, which continues to be outstanding, as reported during the State of the Business and in our recently published annual report. We finished 2017 with record results in total revenue, life and health premiums, and net income. We remain one of the strongest life insurance groups in the world. Our net worth at the end of April was $8.7 billion, and our capital-to-asset ratio of 18.2 percent is more than double the average of the 15 largest U.S. publicly traded life companies."
About Western & Southern Financial Group Founded in Cincinnati in 1888 as The Western and Southern Life Insurance Company, and celebrating 130 years this year, Western & Southern Financial Group, Inc. (Western & Southern), a Fortune 500 company, is now the parent company of a group of diversified financial services businesses. Its assets owned ($47.9 billion) and managed ($26.6 billion) total $74.5 billion as of March 31, 2018. Western & Southern is one of the strongest life insurance groups in the world. Its six life insurance subsidiaries (The Western and Southern Life Insurance Company, Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, The Lafayette Life Insurance Company and National Integrity Life Insurance Company) maintain very strong financial ratings. Other member companies include Eagle Realty Group, LLC; Fort Washington Investment Advisors, Inc.;1 IFS Financial Services, Inc.; Peppertree Partners LLC;1 Touchstone Advisors, Inc.;1 Touchstone Securities, Inc.;2 W&S Brokerage Services, Inc.;2 and W&S Financial Group Distributors, Inc. For more information on the Western & Southern family of companies, visit www.westernsouthern.com. Western & Southern is the title sponsor of six major community events every year, including the Western & Southern Open (www.wsopen.com), a premier event in the U.S. Open Series played each August by the world’s top-ranked professional male and female tennis players.