Ameritas Company Profile

Background

Founded in 1887 as The Old Line Bankers Life Insurance Company of Nebraska, Ameritas has evolved into a prominent mutual insurance company headquartered in Lincoln, Nebraska. With a mission to earn customers' trust by enhancing their lives through insurance, financial services, and employee benefits, Ameritas serves approximately 6 million customers nationwide. The company's vision emphasizes providing individuals with the satisfaction that comes from well-being and a solid plan for financial security. Operating as a mutual-based organization, Ameritas prioritizes long-term stability and customer-centric decisions over short-term gains.

Key Strategic Focus

Ameritas's strategic focus encompasses a diverse range of insurance and financial products tailored to meet the needs of individuals, families, and businesses. The company's offerings include life insurance, annuities, individual disability income insurance, and group benefits such as dental, vision, and hearing care insurance. Additionally, Ameritas provides retirement plan services, comprehensive financial strategies, and public finance services. By investing in new technologies and processes, Ameritas aims to enhance product development, digital tools for financial professionals, and customer engagement in expanding markets.

Financials and Funding

As of the fiscal year 2023, Ameritas reported GAAP assets totaling $30.7 billion, GAAP members' equity of $3.2 billion, and GAAP revenues amounting to $3.2 billion. The company's GAAP pretax operating income stood at $159.3 million. Ameritas maintains strong financial ratings, with an A+ (Strong) rating from Standard & Poor's and an A (Excellent) rating from AM Best, reflecting its financial strength and stability.

Leadership Team

Robert M. Jurgensmeier: Chief Executive Officer and Director. With over 25 years in the insurance and financial services industry, Jurgensmeier joined Ameritas in 2012 as Senior Vice President and Chief Actuary for the Individual Division. He became CEO on January 2, 2024.

Susan K. Wilkinson: President and Chief Operating Officer. Wilkinson began her career at Ameritas in 1995 as a corporate accountant and has held various leadership roles, including Executive Vice President, Chief Financial Officer, and Treasurer from 2018 to 2024. She assumed her current role on January 2, 2024.

Leadership Changes

On January 2, 2024, Robert M. Jurgensmeier succeeded William W. Lester as CEO, following Lester's retirement. Simultaneously, Susan K. Wilkinson was appointed President and COO, marking a significant transition in Ameritas's leadership.

Competitor Profile

Market Insights and Dynamics

The insurance industry is characterized by robust competition, with companies striving to offer comprehensive products and services to meet diverse customer needs. Ameritas operates in a market alongside several major players, each bringing unique strengths and market positions.

Competitor Analysis

MetLife: Established in 1868 and headquartered in New York, MetLife is a leading global provider of insurance, annuities, and employee benefit programs. With approximately 45,000 employees, MetLife reported revenues of $72.1 billion, significantly surpassing Ameritas's revenue figures.

Prudential Financial: Founded in 1875 and based in Newark, New Jersey, Prudential offers a wide range of financial products and services, including life insurance and investment management. The company employs around 39,900 individuals and generates revenues of $70.4 billion.

Cigna Healthcare: Established in 1982 and headquartered in Bloomfield, Connecticut, Cigna provides health insurance and related services. With a workforce of 50,000 to 100,000 employees, Cigna's revenues range between $50 billion and $100 billion.

Strategic Collaborations and Partnerships

In September 2021, Ameritas Life Insurance Corp. acquired BlueStar Retirement Services, Inc., enhancing its capabilities in retirement plan services. This acquisition aligns with Ameritas's strategy to expand its offerings and strengthen its market position in the retirement services sector.

Operational Insights

Ameritas's mutual-based structure allows it to focus on long-term stability and customer-centric decisions, differentiating it from publicly traded competitors. The company's diversified product portfolio, strong financial ratings, and commitment to innovation position it favorably in the competitive insurance and financial services market.

Strategic Opportunities and Future Directions

Ameritas aims to leverage its financial strength and innovative mindset to expand its customer base and enhance product offerings. Investments in technology and process improvements are expected to drive growth and improve customer experiences. The company's focus on sustainable growth and fulfilling its mission positions it to keep promises for generations to come.