On the heels of record year, Northwestern Mutual recognized as industry star by major rating agencies
MILWAUKEE, August 30, 2022 /PRNewswire/ — Amid soaring inflation and weak consumer sentiment across the country, Northwestern Mutual’s financial strength and consistency continue to set the company apart. This week, the company announced that it has once again maintained the highest financial strength ratings available that can be assigned within the industry.
Northwestern Mutual, whose unique approach to financial planning combines insurance to protect against risk and investments to build prosperity, is one of only six companies in the country to be recognized as having the highest rating available. with a “stable outlook” from Moody’s – a class that includes the likes of Apple and Microsoft.
“This result from the major rating agencies demonstrates that we are a company that our policyowners can continually rely on,” said Northwestern Mutual’s chief financial and risk officer. Mike Carter. “It’s more important than ever to trust a company that can deliver in any economic environment. That’s why record numbers of customers are turning to our financial advisors and the superior financial strength that continues to set Northwestern Mutual apart.” on the market.”
By the end of 2022, Northwestern Mutual will have provided its policyholders $6.5 billion in dividends – the largest payout in the company’s history and three times the amount of its next highest competitor. At the same time, the company’s surplus reached $37 billion at the beginning of 2022 – another record. This exceptional financial strength allows Northwestern Mutual to thrive through economic ups and downs, act opportunistically in the markets, continue to evolve to ensure market relevance, and deliver on the promises it makes to millions. customers it proudly serves – not just today, but for generations to come.
Here’s what agencies said about Northwestern Mutual in 2022:
“Strong and stable operating performance enables the company to distribute a significant amount of dividends to policyholders,” S&P wrote in its report on Northwestern Mutual.
A mid-July announcement by Fitch reaffirming Northwestern Mutual’s “AAA” status (including a stable outlook) marked the last of the four major rating agencies, along with Moody’s, S&P and AM Best, to review and maintain. the MilwaukeeNew York-based company with top-notch ratings in 2022.
“The ratings reflect NM’s exceptionally strong capitalization, its leading competitive position in the US individual life insurance market and a conservative liability profile,” according to Fitch’s press release. Financial strength ratings are determined by a myriad of factors, including a comprehensive analysis of companies’ business and financial profiles.
“Our view on Northwestern Mutual’s credit reflects the company’s exceptional business and financial profile, underpinned by its leadership position and strong life insurance franchise in its core market, with a particular emphasis on insurance. -participating whole life,” Moody’s wrote in a recent update.
And according to a report by AM Best, “Northwestern Mutual has a proprietary and productive career agency force, which is a competitive advantage. Northwestern Mutual benefits from a strong recruiting program, which has contributed to a flow constant young talent in the career agency system.”
About Northwestern Mutual
North West Mutual helping individuals and businesses achieve financial security for over 165 years. Through a holistic planning approach, Northwestern Mutual combines the expertise of its finance professionals with a personalized digital experience and industry-leading products to help its customers plan what matters most. With over $560 billion in the combined company and customer assets, $34 billion in revenue, and $2.1 trillion with in-force life insurance protection, Northwestern Mutual provides financial security to nearly five million people with life, disability and long-term care insurance, annuities, and brokerage and advice. Northwestern Mutual ranked 97 on the 2022 FORTUNE 500 and was recognized by FORTUNE® as one of the world’s most admired life insurance companies in 2022.
Northwestern Mutual is the trading name of The Northwestern Mutual Life Insurance Company (NM), Milwaukee, Wis. (life and disability insurance, annuities and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (Investment Brokerage Services), Broker, Registered Investment Adviser, Member FINRA and SIPC; Northwestern Mutual Wealth Management Company® (NMWMC) (investment advice and services), Federal Savings Bank; and Northwestern Long Term Care Insurance Company (NLTC) (long term care insurance). Not all representatives of Northwestern Mutual are advisers. Only representatives whose title includes the term “advisor” or who otherwise disclose their status as an adviser to NMWMC are accredited as representatives of NMWMC to provide investment advice services.
SOURCE North West Mutual