MILWAUKEE, July 9, 2014 /PRNewswire/ -- Noting its "extremely strong" competitive position, Standard & Poor's (S&P) affirmed Northwestern Mutual's AA+ financial strength rating. The rating also applies to its subsidiary, Northwestern Long Term Care Insurance Company.
"Northwestern Mutual has an extremely strong competitive position, which reflects a strong and respected brand, a competitive product portfolio and leading operating fundamentals relative to peers'," the rating agency said in its July 7 rating report.
Rationale for rating
S&P cited Northwestern Mutual's "excellent" business risk profile and "extremely strong" financial risk profile as rationale for the rating.
"We regard Northwestern's business risk profile as excellent. Our view is supported by the company's leading market position in the individual life insurance segment, highly effective distribution force and very strong operating performance," the rating agency said.
S&P added that Northwestern Mutual's financial risk profile includes "extremely strong capital adequacy supported by strong earnings."
Industry's best ratings
Northwestern Mutual continues to have the highest financial strength ratings awarded to any life insurer by all four of the major credit rating agencies: A.M. Best Company, A++ (highest), April 2014; Fitch Ratings, AAA (highest), January 2014; Moody's Investors Service, Aaa (highest), June 2014; and Standard & Poor's, AA+ (second highest), July 2014. Ratings are subject to change.
For more information, see the financial strength ratings page on northwesternmutual.com.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With more than $217 billion in assets, $26 billion in revenues and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.2 million people who rely on us for insurance and investment solutions, including life, disability and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.
SOURCE Northwestern Mutual
For further information: John Gardner, 1-800-323-7033, firstname.lastname@example.org