OM Financial Life Insurance Company · Baltimore, MD United States
Company Description
Phone: 410-895-0100
Fax: 410-895-0132
Toll Free: 800-445-6758
View OM Financial Life Insurance Company Locations On A US Map
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This link will open in a new window OM .... Don't worry, OM Financial Life Insurance isn't meditating, it's just trying to sell you some insurance. OM Financial Life Insurance is the flagship insurer in the Old Mutual Financial Network (OMFN), which makes up the US life insurance and annuity operations of London-based
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Key OM Financial Life Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $720.6 |
OM Financial Life Insurance Company Executives
17 executives listed for OM Financial Life Insurance Company's Baltimore, MD location.
| Title | Name & Bio | Contact |
| CEO | Christopher Chapman | Network |
| SVP and COO | Vic Lumby | Network |
| SVP and CFO | Barry Ward | Network |
Competition
Competitive Landscape for OM Financial Life Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top OM Financial Life Insurance Company Competitors
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