Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.

LIFE INSURANCE | RETIREMENT | EMPLOYEE BENEFITS

2015 FHLBANK INSURANCE CONFERENCE

June 16, 2015John Mason, CFA, Senior Vice President & Chief Investment

Officer

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Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.

• Founded in 1877• Headquartered in Indianapolis• Three main insurance companies

o American United Life Insurance Co.o The State Life Insurance Companyo Pioneer Mutual Life Insurance Company• $16.3B GAA / $1.6B of Capital

• Claims paying ratings of AA- (S&P) and A+ (A.M. Best)

• Main products include:o Retirement products and serviceso Individual life insurance and annuitieso Asset-based long-term careo Employee benefits

o www.oneamerica.com

OneAmerica Background

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Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.

Managed SegmentsOneAmerica

Strategic Business Units

Employee Benefits(AUL)

Corporate&

Reinsurance

Individual Life and Financial Services

(AUL, State Life, Pioneer,OneAmerica Securities)

Participating Whole Life

Asset-based LTC

Fixed Annuity (Traditional and Indexed)

Universal Life (no SGUL)

Variable Annuity (GMDB only)

Term Life

Broker/Dealer

Traditional Group Life &Disability

Retirement Services

(AUL, McCready & Keene,OARS)

457

401 (k)

403 (b)

Defined Benefit

ESOP

Combo 401(a)/403(b)

Corporate SegmentReinsurance

Voluntary Group Life &Disability

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Pension Risk Transfer

Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.

Background• Joined FHLBI in 2007

• First joined to provide greater financial flexibility for our operating companies

• Existing investment portfolios include “eligible collateral”, like many insurance companies

• Currently have ~$1.5B of funding agreement advances

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Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.

General Account Assets ($16.3B)

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“Eligible collateral”

~ $2.5B

~ $1.9B

3/31/2015

Public Bonds 39%

144As 6

Traditional Private Placements 18

Mortgage-Backed Securities 18

Asset-Backed Securities 1

Total Bonds 83%

Commercial Mortgage Loans 11

Policy Loans 2

Real Estate <1

Other 4

Total Assets 100%

Products and financial services provided by the companies of

ONEAMERICA FINANCIAL PARTNERS, INC.

Operating Principles

• Tightly matched cash flows• Duration match limit +/- 0.5 • Asset quality – investment grade focus• Target economics: accretive to company ROE

(12% after-tax target)• Monitor collateral weekly & capacity monthly• Review program quarterly with committees• Monitor FHLB/FHLBI financials (stock)

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