MILWAUKEE, May 25, 2016 /PRNewswire/ -- Fitch Ratings has affirmed Northwestern Mutual's AAA financial strength rating, the highest possible rating from Fitch.
"Fitch's ratings reflect Northwestern's leading competitive position in the U.S. individual life insurance market, extremely strong balance sheet fundamentals and stable earnings profile," the rating agency said.
The rating underscores the company's strong financial position, judicious expense management and ability to meet policyowner commitments.
"Fitch considers Northwestern's key competitive advantages to include its successful distribution system, large and stable block of traditional life insurance and expense advantage relative to peers," the agency said.
Despite low interest rates, financial market volatility and a weak economic environment in the United States and abroad, Fitch described Northwestern Mutual's results as "favorable."
"The stability of Northwestern's earnings can be attributed to low expense levels and strong mortality, and persistency results of its life business," Fitch said.
With this latest affirmation, Northwestern Mutual continues to have the highest financial strength ratings awarded to any life insurer by all four of the major rating agencies: A.M. Best Company, A++ (highest), May 2016; Fitch Ratings, AAA (highest), May 2016; Moody's Investors Service, Aaa (highest), January 2016; and S&P Global Ratings, AA+ (second highest), May 2015. Third-party ratings are subject to change. Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company.
For more information, see the Our Commitment to Financial Strength 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 $238.5 billion in assets, $27.9 billion in revenues and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual is recognized by FORTUNE magazine as one of the "World's Most Admired" life insurance companies in 2016.
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SOURCE Northwestern Mutual