The 2025 Fortune 500® list released today by Fortune® magazine ranks Western & Southern Financial Group No. 310 (from No. 284 in 2024), with $13.8 billion in revenue for 2024.
Western & Southern finished the year with record results in six key areas, including net investment income, assets owned and managed and operating income. While the industry continued to see declines in capital-to-asset ratios, Western & Southern’s capital-to-asset ratio of 14.9% remained significantly higher than the average capital-to-asset ratio of the 15 largest publicly traded life insurers doing business in the U.S.
On the 2025 list, Western & Southern ranked seventh among mutual life and health insurance companies and 15th among the combined mutual and stock life and health insurance companies. Western & Southern is one of 28 Ohio companies and eight from the Greater Cincinnati area to make the list – more than any other city in Ohio, Indiana or Kentucky.
The local companies on the 2025 list (2024 ranking noted in parentheses) are:
Kroger 27 (25)
Procter & Gamble 51 (50)
GE Aerospace* 118 (56)
Western & Southern Financial Group 310 (284)
Fifth Third Bancorp 320 (321)
Cincinnati Financial 371 (393)
Cintas 427 (437)
American Financial Group 460 (470)
For mutual companies like Western & Southern, Fortune® uses revenue reported on a statutory accounting basis to rank companies for inclusion on the Fortune 500® list. Accordingly, the numbers differ from the GAAP (Generally Accepted Accounting Principles) numbers cited in our 2024 Western & Southern Annual Report.
* GE Aerospace moved its headquarters to Cincinnati in 2024.
From Fortune ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 500 are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of Western & Southern Financial Group.
