Standard & Poor's Recognizes Northwestern Mutual's Financial Strength, Competitive Position and Long-Term Commitment to Mutuality and Policyowners in Latest Ratings Report
MILWAUKEE, June 13, 2017 /PRNewswire/ -- Noting Northwestern Mutual's "extremely strong competitive position" "strong capital" and "highly effective" field force, Standard & Poor's (S&P) has reaffirmed the company's financial strength with an AA+ rating, citing its"excellent" business risk profile and "extremely strong" financial risk profile in a new ratings report.
"We are very proud of our standing in S&P's most recent ratings report. It recognizes our strong operating performance and financial strength, which are integral to serving our policyowners," said Todd Jones, vice president and controller. "The report also highlights our leadership position in the industry, and the important role our financial representatives and advisors play in connecting our risk and investment solutions with the individual financial needs of our clients."
Strength spans businesses, financial, risk and management criteria
The report notes Northwestern Mutual's strength across multiple areas of consideration. Highlights include:
- Competitive position: "Extremely strong," stemming from the company's national presence, top market position, complementary products (including whole life and term insurance, disability income insurance, annuities, mutual funds and long-term care insurance), and dedicated financial representatives.
- Capital and earnings: "Extremely strong" based on favorable mortality experience, strong persistency, expense efficiency and strong operating performance; recurring premium and investment income allow Northwestern Mutual to maintain capital at the "AAA" level as measured by S&P's capital model.
- Enterprise risk management: "Strong" reflecting a positive risk management culture and the "tight" management of investment exposures in the general account.
- Management and governance: "Strong," "well-seasoned" management team, led by Chairman and CEO John Schlifske, pursuing "a strategy that emphasizes long-term stability and strength" with a "commitment to mutuality" and policyowners as well as its financial representatives and advisors.
Industry-leading financial strength ratings
With this latest affirmation, Northwestern Mutual continues to have the highest financial strength ratings awarded to any U.S. life insurer by all four of the major rating agencies: A.M. Best Company, A++ (highest), April 2017; Fitch Ratings, AAA (highest), November 2016; Moody's Investors Service, Aaa (highest), January 2017; and Standard & Poor's, AA+ (second highest), June 2017. Third-party ratings are subject to change. Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for 160 years. Through a distinctive, whole-picture planning approach including both insurance and investments, we empower people to be financially confident so they can live life differently. We combine the expertise of our financial professionals with a personalized digital experience to help our clients navigate their financial lives every day. With $250.4 billion in assets, $28.2 billion in revenues, and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.4 million people who rely on us for life, disability income and long-term care insurance, annuities, brokerage and advisory services, trust services, and discretionary portfolio management solutions. The company holds more than $100 billion of client assets as a part of its wealth management company and investment services. Northwestern Mutual ranks 100 on the 2016 FORTUNE 500 and is recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2017.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) 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, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (securities), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (fiduciary and fee-based financial planning services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance).
SOURCE Northwestern Mutual
Jean Towell, 1-800-323-7033, email@example.com
6/13/2017 8:00:00 AM