MILWAUKEE, May 15, 2017 /PRNewswire/ -- Northwestern Mutual announced today that A.M. Best Company has affirmed its A++ financial strength rating, the highest possible rating from the agency. The rating reflects Northwestern Mutual's strong financial position, sound operating fundamentals, and ongoing ability to meet policyowner commitments.
"Receiving the highest ratings from agencies such as A.M. Best recognizes our strong financial footing, which helps us create the financial capacity to pay dividends and give policyowners the assurance we'll be here for them to deliver on the promises we've made," said Todd Jones, vice president and controller.
The rating company affirms Northwestern Mutual delivers "consistently profitable operating performance and supportive risk-adjusted capitalization, along with a well-developed enterprise risk management program," A.M. Best said in its news release. "The growth and stability of its in-force business, combined with Northwestern Mutual's focus on favorable investment and underwriting and its strong commitment to the life insurance market, have enabled the group to generate a steady stream of operating earnings from traditional whole life insurance, which A.M. Best views as highly creditworthy on its product continuum scale."
Measures of strength
A.M. Best noted that Northwestern Mutual's dividend payout to policyowners remains competitive due to strong mortality experience. The agency also noted the strength of Northwestern Mutual's exclusive distribution system of financial professionals, leading market position, strong policyholder persistency, and strong persistency among financial representatives and advisors with five or more years of experience.
Consistent best 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 2016. 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).
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/am-best-affirms-northwestern-mutuals-a-rating-highlights-continued-financial-strength-300457596.html
SOURCE Northwestern Mutual