By 1931, the company's insurance in force was over $100 million. Through acquisitions and sales growth, the company continued to prosper throughout the 1930s, and in 1941, insurance in force surpassed $250 million. In the late 1940s, the Board of Directors recommended that
Ohio National be converted from a stock company to a mutual company. By the 1940s, more and more insurance business was placed with mutual companies. Unlike nonparticipating products sold by stock companies, mutual companies can use their profits to lower costs by distributing dividends to policyholders. The courts approved the change in 1949, and the final shares of stock were retired in 1959.
The company joined with the rest of the nation in the post-World War II economic boom. At the end of 1960, Ohio National's life insurance in force was over $1 billion, and its assets were over $218 million.
Ohio National marketed its new expansion by moving to a new corporate headquarters, the company's fifth since it was founded in that one room office on Fourth Street. Located in the city's medical and teaching districts, the site served as the company's headquarters.
Back to Top | Next
