Northwestern Mutual

Our Commitment to Financial Strength

At Northwestern Mutual, we’ve been helping clients take control of their financial future for nearly 160 years. Through the Civil War, the Great Depression, two world wars and a number of recessions, we’ve stood alongside our clients, helping them manage financial risk and achieve financial security. And today, as the world’s economic environment continues to evolve, clients trust Northwestern Mutual to lead the way.

As we look to the future, we will continue to build financial strength for our company and for our clients with a well-balanced and diversified investment strategy and long-term market view.

Download our Power of the Portfolio report
Build on Financial Strength Annual Report


  • Our Ratings
  • Our Investments
  • Our Results

Our Ratings

Northwestern Mutual has the highest financial strength ratings1 awarded to any life insurer by all four of the major rating agencies. Why are financial strength ratings important? Ratings are based on financial strength, overall operations and claims-paying ability. Our high ratings recognize our solid financial footing, which helps us deliver on product guarantees and create the financial capacity to pay dividends.2 We expect to pay $5.2 billion in total dividends to policyowners in 2017, including industry-leading dividends on life and disability insurance.3

Ratings are for Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company as of the most recent review and report by each rating agency and are subject to change.

A.M. Best, 5/2016

“The superior rating reflects Northwestern Mutual’s favorable level of risk-adjusted capitalization, exclusive career agency distribution system, strong liquidity and leading market position in participating whole life insurance.”

Ratings Report


A.M. Best Company

May 2016

Fitch Ratings, 11/2016

“Fitch views Northwestern's successful distribution system, large and stable block of traditional life insurance, and expense advantage relative to peers as key competitive advantages.”

Ratings Report


Fitch Ratings

November 2016

Moody's Investors Service, 1/2017

The ratings reflect “the company’s leading positions and strong franchise in its core markets, with a focus on participating whole life insurance, excellent career agency-based distribution, strong underwriting skills, and its robust and resilient balance sheet."

Ratings Report


Moody's Investors Service

January 2017

S&P Global Ratings, 6/2016

“We expect Northwestern Mutual Life Insurance Co. and its subsidiary, Northwestern Long Term Care Insurance Co., to maintain its extremely strong competitive position while maintaining extremely strong capital and exceptional liquidity.”

Ratings Report


S&P Global Ratings

June 2016

Our Investments

Our Investments

We’re investing in your financial future. Our well-balanced and diversified long-term investment portfolio is carefully designed to generate superior returns and build financial strength.

2015 Investment Report
2016 Midyear Investment Update
See how Northwestern Mutual’s investment strategy, expertise and year-end results are helping build the company’s exceptional financial strength and long-term success.

Power of the Portfolio
Learn about the Northwestern Mutual investment portfolio and how investment performance helps determine the dividend interest rate.

Detailed Listing of Investment Holdings

Want to know more? Download a comprehensive listing of Northwestern Mutual Life Insurance Company’s investment holdings as of December 31, 2016.

Schedule A (Parts 1-3) — Real Estate

Schedule B (Parts 1-3) — Mortgage Loans

Schedule BA (Parts 1-3) — Other Long-Term Invested Assets

Schedule D (Part 1) — Long-Term Bonds

Schedule D (Part 2) — Stocks

Schedule D (Part 3) — Long-Term Bonds and Stocks Acquired During Current Year (2016)

Schedule D (Part 4) — Long-Term Bonds and Stocks Sold, Redeemed or Otherwise Disposed of During Current Year (2016)

Schedule D (Part 5) — Long-Term Bonds and Stocks Acquired and Disposed of During Current Year (2016)

Schedule D (Part 6) — Shares of Subsidiary, Controlled or Affiliated Companies

Schedule DA (Part 1) — Short-Term Investments

Schedule DB (Part A) — Options, Caps, Floors, Collars, Swaps and Forwards Open as of 12/31/16

Schedule DB (Part B) — Future Contracts Open as of 12/31/2016

Schedule DB (Part D) — Counterparty Exposure of Derivative Instruments Open as of 12/31/16

Schedule DL (Parts 1 & 2) — Reinvested Collateral Assets

Schedule E (Parts 1-3) — Cash

Our Results

The Northwestern Mutual Difference

Following our long, rich history of doing the right thing for the people we serve, Northwestern Mutual’s work continues to lead the way. We’re building strength and long-term financial stability, one life at a time.