MILWAUKEE, Feb. 28, 2013 /PRNewswire/ -- Northwestern Mutual today was recognized as one of the "World's Most Admired" companies in the life insurance industry, according to executives, directors and analysts worldwide responding to FORTUNE® magazine's 2013 annual survey.
The financial security company led its industry in the attribute of Financial Soundness and continued to be the highest-ranking life insurance company that operates solely in the U.S. to be listed on FORTUNE's global survey.
"As a company that offers financial security domestically to 3.5 million policyowners, we appreciate being recognized as a most-admired business in the world by trusted industry experts and our peers," said John E. Schlifske, Northwestern Mutual chairman and chief executive officer. "We are especially proud of the high marks we earn from our policyowners as evidenced by our nearly 97% retention rate."
Since 1983, FORTUNE magazine has surveyed industry executives and analysts 39 times to identify the companies that are among the "Most Admired" in their industry; 39 times, Northwestern Mutual has earned that distinction.
All "World's Most Admired Companies" industry rankings will be featured in FORTUNE magazine's March 2013 edition.
The FORTUNE honor is one of many recent company accolades:
- Northwestern Mutual maintains the highest financial strength ratings awarded to any life insurer by all four of the major credit rating agencies: A.M. Best Company, A++ (highest) April 2012; Fitch Ratings, AAA (highest), December 2012; Moody's Investors Service Aaa (highest), December 2012; and Standard & Poor's AA+ (second highest), June 2012.
- Northwestern Mutual expects to pay dividends of more than $5 billion in 2013 – approximately three times the ordinary life insurance dividends of its nearest competitor.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company – Milwaukee, WI (Northwestern Mutual) – among the "World's Most Admired" life insurance companies in 2012 according to FORTUNE® magazine – has helped clients achieve financial security for more than 155 years.
As a mutual company with $1.4 trillion of life insurance protection in force, Northwestern Mutual has no shareholders. The company focuses solely and directly on its clients and seeks to deliver consistent and dependable value to them over time.
Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; Northwestern Long Term Care Insurance Company; and Russell Investments.
SOURCE Northwestern Mutual