Western & Southern Financial Group: Difference between revisions
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Revision as of 02:01, 16 October 2018
| File:Western & Southern Financial Logo.JPG | |
| Company type | Mutual |
|---|---|
| Genre | Financial Services |
| Founded | 1888 as Western and Southern Life Insurance |
| Headquarters | Cincinnati, Ohio , United States |
Key people | John F. Barrett |
| Products | Insurance, Annuities, Mutual Funds |
| Revenue | $856 million (2017)[1] |
535,230,000 United States dollar (2021)  | |
| Total assets | $67.5 billion (2017)[2] |
Number of employees | 4,000[2] |
| Website | www.westernsouthern.com |
Western & Southern Financial Group, also commonly referred to as Western & Southern, is a Cincinnati, Ohio-based diversified family of financial services companies with assets owned and managed in excess of $67.5 billion as of March 2017.[2] As of 2013, it held a "AA+ Very Strong" rating from Standard & Poor's.[3]
Through its member companies, Western & Southern offers a variety of financial services such as life insurance, annuities, mutual funds and investment management. Western & Southern's member companies include The Western & Southern Life Insurance Co, Western-Southern Life Assurance Co, Columbus Life Insurance Co, Lafayette Life Insurance Co, IFS Financial Services, Fort Washington Investment Advisors, Eagle Realty Group, Integrity Life Insurance Co, and National Integrity Life Insurance Co.[4]
History
Western & Southern hosts the Western & Southern Open tennis tournament. This tennis event has contributed more than $5.5 million to charities in the Greater Cincinnati community.[5]
Western & Southern played a key role in the development of the Great American Tower at Queen City Square project in downtown Cincinnati, Ohio.[2]
In May 2013, Western & Southern signed a controversial agreement with Cincinnati Union Bethel to purchase the historic Anna Louise Inn in downtown Cincinnati.[6] In 2014, Western & Southern Financial Group, owner of many properties within the Lytle Park Historic District asked the city to remove historic status of several historic buildings. The company hopes to demolish sections of the district in order to build new office space.[7][8]
On September 17, 2018, Western & Southern announced that it would be acquiring the Gerber Life Insurance Company from Nestle for $1.55 billion[9] along with a long-term intellectual protery license in connection with financial services. The acquisition is expected to increase Western & Southern’s assets to $77.1 billion and increase its ratio of life insurance to annuity business.[10][4]
See also
References
- ^ "Nestlé to divest Gerber Life Insurance subsidiary for $1.55bn". Compelo. September 18, 2018. Retrieved October 16, 2018.
- ^ a b c d Monk, Dan (March 28, 2017). "Dream weaver: John Barrett shares his vision for downtown Cincinnati". WCPO Cincinnati. Retrieved October 16, 2018.
- ^ "Western & Southern Life has been Providing Quality Service in Lakeland Since 1969". June 12, 2013.
- ^ a b Iacurci, Greg (September 18, 2018). "Western & Southern buys Gerber Life Insurance in $1.55 billion deal". Investment News. Retrieved October 16, 2018.
- ^ "Director dropped from Western & Southern tennis event," by Shannon Russell. Cincinnati Enquirer, January 12, 2011.http://news.cincinnati.com/article/20110112/SPT/101130325/Flory-dropped-from-W-S-tennis-event
- ^ "John Barrett toughed out Anna Louise Inn fight," Cincinnati Enquirer, May 15, 2013 http://news.cincinnati.com/article/20130515/BIZ/305150052/John-Barrett-toughed-out-Anna-Louise-fight?nclick_check=1
- ^ Yung, John (May 1, 2014). "Is Western & Southern planning a new HQ at Lytle Park?". Cincinnati Business Courier. Retrieved June 7, 2014.
- ^ Demeropolis, Tom (May 2, 2014). "Western & Southern clears first step to reshape Lytle Park district". Cincinnati Business Courier. Retrieved June 7, 2014.
- ^ Scism, Leslie; Barba, Robert (September 17, 2018). "Nestlé to Sell Gerber Life Insurance to Western & Southern Financial" – via www.wsj.com.
- ^ Caproni, Erin (September 17, 2018). "Western & Southern to make $1.5B acquisition". Cincinnati Business Courier. Retrieved October 16, 2018.
External links
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