Changes
no edit summary
{{Use mdy dates|date=October 2016}}
{{Infobox company
| name = Western & Southern Financial Group
| logo = Western & Southern Financial Logo.JPG
| type = [[Mutual organization|Mutual]]
| genre = Financial Services
| fate =
| founded = 1888 as Western and Southern Life Insurance
| location_city = Cincinnati, Ohio
| location_country = United States
| location =
| locations =
| area_served =
| key_people = [[John F. Barrett]]
| industry =
| products = Insurance, Annuities, Mutual Funds
| services =
| operating_income =
| net_income =
| aum =
| assets = $67.5 billion (2017)<ref name="WCPO Cincinnati"/>
| revenue = $856 million (2017)<ref name="Compelo">{{cite news |title=Nestlé to divest Gerber Life Insurance subsidiary for $1.55bn |url=https://www.compelo.com/insurance/news/nestle-gerber-life-insurance/ |accessdate=16 October 2018 |publisher=Compelo |date=September 18, 2018}}</ref>
| equity =
| owner =
| num_employees = 4,000<ref name="WCPO Cincinnati">{{cite news |last1=Monk |first1=Dan |title=Dream weaver: John Barrett shares his vision for downtown Cincinnati |url=https://www.wcpo.com/money/local-business-news/dream-weaver-john-barrett-shares-his-vision-for-downtown-cincinnati |accessdate=16 October 2018 |publisher=WCPO Cincinnati |date=March 28, 2017}}</ref>
| parent =
| divisions =
| subsid =
| homepage = {{official|http://www.westernsouthern.com www.westernsouthern.com}}
| footnotes =
}}
'''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.<ref name="WCPO Cincinnati"/> As of 2018, it held a "AA- Very Strong" rating from [[Standard & Poor's]].<ref name="S&P rating">{{cite web |title=Our Financial Ratings |url=https://www.westernsouthern.com/about/financial-information/financial-ratings |website=Western & Southern Financial Group |publisher=Western & Southern Financial Group |accessdate=16 October 2018}}</ref>
Through its member companies, Western & Southern offers a variety of financial services such as [[life insurance]], [[Annuity (financial contracts)|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.<ref name="Investment News"/>
==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.<ref>"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</ref>
Western & Southern played a key role in the development of the [[Great American Tower at Queen City Square]] project in downtown Cincinnati, Ohio.<ref name="WCPO Cincinnati"/>
In May 2013, Western & Southern signed a controversial agreement with Cincinnati Union Bethel to purchase the historic [[Anna Louise Inn]] in downtown Cincinnati.<ref>"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</ref> 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 remove sections of the district in order to build new office space.<ref>{{cite web | url=http://www.bizjournals.com/cincinnati/news/2014/05/01/western-southern-aims-to-alter-lytle-park-historic.html?page=all | title=Is Western & Southern planning a new HQ at Lytle Park? | publisher=Cincinnati Business Courier | date=May 1, 2014 | accessdate=7 June 2014 | author=Yung, John}}</ref><ref>{{cite web | url=http://www.bizjournals.com/cincinnati/news/2014/05/02/western-southern-clears-first-step-to-reshape.html?page=all | title=Western & Southern clears first step to reshape Lytle Park district | publisher=Cincinnati Business Courier | date=May 2, 2014 | accessdate=7 June 2014 | author=Demeropolis, Tom}}</ref>
On September 17, 2018, Western & Southern announced that it would be acquiring the Gerber Life Insurance Company from [[Nestle]] for $1.55 billion<ref>{{cite web|url=https://www.wsj.com/articles/nestle-to-sell-gerber-life-insurance-to-western-southern-financial-1537222977|title=Nestlé to Sell Gerber Life Insurance to Western & Southern Financial|first1=Leslie|last1=Scism|first2=Robert|last2=Barba|date=September 17, 2018|publisher=|via=www.wsj.com}}</ref> along with a long-term intellectual property 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.<ref name="Cincinnati Business Courier">{{cite news |last1=Caproni |first1=Erin |title=Western & Southern to make $1.5B acquisition |url=https://www.bizjournals.com/cincinnati/news/2018/09/17/western-southern-to-make-1-5b-acquisition.html |accessdate=16 October 2018 |publisher=Cincinnati Business Courier |date=September 17, 2018}}</ref><ref name="Investment News">{{cite news |last1=Iacurci |first1=Greg |title=Western & Southern buys Gerber Life Insurance in $1.55 billion deal |url=https://www.investmentnews.com/article/20180918/FREE/180919925/western-southern-buys-gerber-life-insurance-in-1-55-billion-deal |accessdate=16 October 2018 |publisher=Investment News |date=September 18, 2018}}</ref>
==See also==
* [[List of United States insurance companies]]
==References==
{{reflist|2}}
==External links==
*[http://www.westernsouthern.com Western & Southern Financial Group website]
{{-}}
{{DEFAULTSORT:Western and Southern Financial Group}}
[[Category:Insurance companies of the United States]]
[[Category:Life insurance companies of the United States]]
[[Category:Mutual insurance companies of the United States]]
[[Category:Companies based in Cincinnati]]
[[Category:American companies established in 1888]]
[[Category:Financial services companies established in 1888]]
{{finance-company-stub}}
{{Infobox company
| name = Western & Southern Financial Group
| logo = Western & Southern Financial Logo.JPG
| type = [[Mutual organization|Mutual]]
| genre = Financial Services
| fate =
| founded = 1888 as Western and Southern Life Insurance
| location_city = Cincinnati, Ohio
| location_country = United States
| location =
| locations =
| area_served =
| key_people = [[John F. Barrett]]
| industry =
| products = Insurance, Annuities, Mutual Funds
| services =
| operating_income =
| net_income =
| aum =
| assets = $67.5 billion (2017)<ref name="WCPO Cincinnati"/>
| revenue = $856 million (2017)<ref name="Compelo">{{cite news |title=Nestlé to divest Gerber Life Insurance subsidiary for $1.55bn |url=https://www.compelo.com/insurance/news/nestle-gerber-life-insurance/ |accessdate=16 October 2018 |publisher=Compelo |date=September 18, 2018}}</ref>
| equity =
| owner =
| num_employees = 4,000<ref name="WCPO Cincinnati">{{cite news |last1=Monk |first1=Dan |title=Dream weaver: John Barrett shares his vision for downtown Cincinnati |url=https://www.wcpo.com/money/local-business-news/dream-weaver-john-barrett-shares-his-vision-for-downtown-cincinnati |accessdate=16 October 2018 |publisher=WCPO Cincinnati |date=March 28, 2017}}</ref>
| parent =
| divisions =
| subsid =
| homepage = {{official|http://www.westernsouthern.com www.westernsouthern.com}}
| footnotes =
}}
'''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.<ref name="WCPO Cincinnati"/> As of 2018, it held a "AA- Very Strong" rating from [[Standard & Poor's]].<ref name="S&P rating">{{cite web |title=Our Financial Ratings |url=https://www.westernsouthern.com/about/financial-information/financial-ratings |website=Western & Southern Financial Group |publisher=Western & Southern Financial Group |accessdate=16 October 2018}}</ref>
Through its member companies, Western & Southern offers a variety of financial services such as [[life insurance]], [[Annuity (financial contracts)|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.<ref name="Investment News"/>
==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.<ref>"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</ref>
Western & Southern played a key role in the development of the [[Great American Tower at Queen City Square]] project in downtown Cincinnati, Ohio.<ref name="WCPO Cincinnati"/>
In May 2013, Western & Southern signed a controversial agreement with Cincinnati Union Bethel to purchase the historic [[Anna Louise Inn]] in downtown Cincinnati.<ref>"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</ref> 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 remove sections of the district in order to build new office space.<ref>{{cite web | url=http://www.bizjournals.com/cincinnati/news/2014/05/01/western-southern-aims-to-alter-lytle-park-historic.html?page=all | title=Is Western & Southern planning a new HQ at Lytle Park? | publisher=Cincinnati Business Courier | date=May 1, 2014 | accessdate=7 June 2014 | author=Yung, John}}</ref><ref>{{cite web | url=http://www.bizjournals.com/cincinnati/news/2014/05/02/western-southern-clears-first-step-to-reshape.html?page=all | title=Western & Southern clears first step to reshape Lytle Park district | publisher=Cincinnati Business Courier | date=May 2, 2014 | accessdate=7 June 2014 | author=Demeropolis, Tom}}</ref>
On September 17, 2018, Western & Southern announced that it would be acquiring the Gerber Life Insurance Company from [[Nestle]] for $1.55 billion<ref>{{cite web|url=https://www.wsj.com/articles/nestle-to-sell-gerber-life-insurance-to-western-southern-financial-1537222977|title=Nestlé to Sell Gerber Life Insurance to Western & Southern Financial|first1=Leslie|last1=Scism|first2=Robert|last2=Barba|date=September 17, 2018|publisher=|via=www.wsj.com}}</ref> along with a long-term intellectual property 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.<ref name="Cincinnati Business Courier">{{cite news |last1=Caproni |first1=Erin |title=Western & Southern to make $1.5B acquisition |url=https://www.bizjournals.com/cincinnati/news/2018/09/17/western-southern-to-make-1-5b-acquisition.html |accessdate=16 October 2018 |publisher=Cincinnati Business Courier |date=September 17, 2018}}</ref><ref name="Investment News">{{cite news |last1=Iacurci |first1=Greg |title=Western & Southern buys Gerber Life Insurance in $1.55 billion deal |url=https://www.investmentnews.com/article/20180918/FREE/180919925/western-southern-buys-gerber-life-insurance-in-1-55-billion-deal |accessdate=16 October 2018 |publisher=Investment News |date=September 18, 2018}}</ref>
==See also==
* [[List of United States insurance companies]]
==References==
{{reflist|2}}
==External links==
*[http://www.westernsouthern.com Western & Southern Financial Group website]
{{-}}
{{DEFAULTSORT:Western and Southern Financial Group}}
[[Category:Insurance companies of the United States]]
[[Category:Life insurance companies of the United States]]
[[Category:Mutual insurance companies of the United States]]
[[Category:Companies based in Cincinnati]]
[[Category:American companies established in 1888]]
[[Category:Financial services companies established in 1888]]
{{finance-company-stub}}
