Northwestern Mutual to Pay Policyowners $5.3 Billion in Dividends
2018 dividend payout continues company's 147-year track record of sharing financial success
Oct 25, 2017, 10:01 ET
MILWAUKEE, Oct. 25, 2017 /PRNewswire/ -- Northwestern Mutual announced today that its policyowners will receive an estimated $5.3 billion through its 2018 dividend payout. This marks a continuous record of 147 years that Northwestern Mutual has made a dividend payout, an accomplishment the company has achieved through careful business management and investment stewardship – keeping operating expenses low, ensuring sound underwriting and investing prudently.
"I am incredibly proud of the value we are delivering to our policyowners through dividends," said John E. Schlifske, chairman and CEO of Northwestern Mutual. "For more than 160 years we've been managing our business effectively and acting in the best long-term interest of our clients, so we're able to offer excellent product value and service for a lifetime of financial security."
Northwestern Mutual's dividend payout stands out not only for its long 147-year track record, but also for the size of the payout. The company is again expected to be the industry leader in total dividends paid for both life and disability income insurance.
"Individuals turn to risk products to protect their financial security first and foremost. However, as we live longer, people are also looking for long-term value and flexibility from their financial solutions, and our products are uniquely situated to meet this full spectrum of needs," said Schlifske. "Today's ultra-low interest rates have driven the yields of high-quality fixed-income investments, that many investors rely on for low-risk growth, to historic lows. Yet our products continue to provide superior value that's undeniably attractive to our policyowners in today's environment."
Policyowners who own whole life insurance, disability insurance and some annuity products are eligible for dividends, and they have a choice and flexibility with respect to how dividends can be used. Their options include: to reduce the cost of premiums; take in cash; or, for life insurance, increase the cash value and/or death benefit.
While Northwestern Mutual seeks to pay the highest level of dividends possible, the company balances this with its aim to remain the most financially strong company in the industry. It currently maintains the highest financial strength ratings awarded to any U.S. life insurer. For more information, see OurCommitment to Financial Strengthonnorthwesternmutual.com.
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 97 on the 2017 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