Northwestern Mutual Reaffirms #1 Rank in U.S. Direct Life Insurance, Managing More Than 10% Market-Share
Northwestern Mutual oversees more than 10 percent of the total U.S. direct life insurance market, based on the most recent data* from A.M. Best. This reaffirms Northwestern Mutual's number one rank in U.S. individual life insurance market share, a position the financial security company has held since 2000. Significantly outpacing the industry year over year, Northwestern Mutual increased its total U.S. direct life insurance premium by 9.0% from first quarter 2007 to first quarter 2008, compared to the overall industry average of 0.9%.
This market-share milestone underscores Northwestern Mutual's 150-plus year commitment to helping its clients manage risk, which is particularly relevant today as people are living longer, saving less, and realizing the need to assess their financial futures.
"We have close to 3.5 million policyowners, and take great pride in helping each of them with their financial security planning," said Edward J. Zore, Northwestern Mutual president and CEO. "In uncertain economic times, life insurance is a flexible financial asset that can provide protection, cash value and confidence for Americans as they take control of their financial future. Regardless of one's life stage, life insurance is the foundation of any sound financial security plan."
Northwestern Mutual has always received the best possible insurance financial strength ratings from Standard & Poor's, Fitch Ratings, Moody's and A.M. Best, which affirmed the company's A++ rating in March 2008. Because of the company's strong financial position, Northwestern Mutual expects to provide $5 billion in dividends to policyowners in 2008.
Northwestern Mutual has also collected top honors in the life/health sector of FORTUNE magazine's "America's Most Admired Companies" survey for 25 years, including 2008. The Milwaukee firm is the only company to place first every year it was ranked.
* NOTE: Northwestern Mutual's calculation of U.S. direct life insurance market share includes new premium sales, renewal premium and dividend additions in the United States only.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company, Milwaukee, WI, a FORTUNE 500 company with over $1 trillion of life insurance protection in force, has been helping its policyowners and clients achieve financial security for more than 150 years.
Through the Northwestern Mutual Financial Network, the marketing name for the company's nationwide sales distribution arm, the company and its affiliates deliver a unique approach to combining insurance and investment solutions to help clients achieve financial security. These solutions include life insurance, long-term care insurance, disability insurance, annuities, mutual funds, and employee benefit services. Northwestern Mutual's subsidiaries and affiliates are comprised of Northwestern Mutual Investment Services, LLC, a wholly-owned company, broker-dealer, member of FINRA and SIPC; the Northwestern Mutual Wealth Management Company, a wholly-owned company of Northwestern Mutual and limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and the Russell Investment Group.
Further information on Northwestern Mutual, its subsidiaries and affiliates can be found at: http://www.nmfn.com/.
First Call Analyst:
SOURCE: Northwestern Mutual
CONTACT: Jean Towell of Northwestern Mutual, 1-800-323-7033,
9/4/2008 10:29:00 AM