Western & Southern Financial Group
| Company type | Holding company |
|---|---|
| Industry | Financial services |
| Founded | 1888 |
| Headquarters | Cincinnati, Ohio , United States |
Area served | United States |
| Products | Life insurance, annuities, mutual funds, retirement solutions, investment management |
| Website | www |
Western & Southern Financial Group, based in Cincinnati, Ohio, serves as the holding company for a broad range of financial services entities. Through its various subsidiaries, it offers products including life insurance, annuities, mutual funds, retirement solutions, and investment management.
Prominent subsidiaries encompass Western & Southern Life Insurance Co, Western-Southern Life Assurance Co, Columbus Life Insurance Co, Gerber Life Insurance Company, Integrity Life Insurance Co, National Integrity Life Insurance Co, Lafayette Life Insurance Co, Fort Washington Investment Advisors, Touchstone Investments, Eagle Realty Group, Fabric by Gerber Life, and W&S Financial Group Distributors. Together, these entities oversaw assets exceeding $112.2 billion as of 2023.
Western & Southern holds the No. 284 position on the Fortune 500 ranking. By June 2024, it maintained robust credit evaluations: "AA- Very Strong" from Standard & Poor's, "A+ Superior" by A.M. Best, "AA Very Strong" from Fitch Ratings, "Aa3 Excellent" awarded by Moody's Investors Service, along with a Comdex rating of 96 out of 100.
History
Until 2023, Western & Southern acted as the title sponsor for the Western & Southern Open tennis tournament. In 2024, following acquisition by Beemok Capital, the event was rebranded as the Cincinnati Open. This tournament contributes over $80 million annually to the economy of Greater Cincinnati.
The company was instrumental in the creation of Cincinnati’s tallest office building, the Great American Tower at Queen City Square, finalized in 2011.
In 2013, Western & Southern purchased the historic Anna Louise Inn and in 2014 initiated efforts to revoke historic designation for parts of the Lytle Park Historic District, facilitating plans for new office construction aligned with its real estate development strategy.
Since 2015, Western & Southern has sponsored the yearly WEBN fireworks display along the Ohio River, an event that draws approximately 500,000 spectators and enhances its community involvement.
A significant expansion occurred in 2018 with the acquisition of Gerber Life Insurance Company from Nestle for $1.55 billion. This deal included a long-term intellectual property license related to financial services, broadening Western & Southern’s product offerings and market presence.
In November 2019, John Bultema was appointed CEO of Lafayette Life Insurance Co., one of the company’s principal subsidiaries, reinforcing leadership stability within its organizational framework.
March 2020 marked the formation of a strategic alliance with Legacy Marketing Group to distribute proprietary fixed indexed annuity products through Integrity Life Insurance Company, bolstering Western & Southern’s annuity segment.
In 2022, Western & Southern acquired Fabric Technologies, which was subsequently renamed Fabric by Gerber Life, further expanding its insurance product range.
A 2023 study conducted by the University of Cincinnati Economic Center emphasized Western & Southern’s substantial economic impact: supporting 188,715 jobs and generating $27.4 billion in economic output alongside $13.6 billion in earnings.
Established in 1888 as The Western and Southern Life Insurance Company, the enterprise’s enduring expansion reflects purposeful leadership and strategic investments aimed at growing its global footprint and financial strength.
See also
External links
- Life insurance providers in the United States
- American enterprises founded in 1888
- Financial service firms established in 1888
- Mutual insurance firms in the United States
- Corporations headquartered in Cincinnati
- American companies established in 1888
- Companies of the United States by year of establishment