MILWAUKEE, June 21, 2016 /PRNewswire/ -- S&P Global Ratings (formerly Standard & Poor's Rating Services) has affirmed Northwestern Mutual's AA+ financial strength rating, noting its excellent business risk profile and strong enterprise risk management.
"We expect Northwestern Mutual Life Insurance Co. and its subsidiary, Northwestern Long Term Care Insurance Co., to maintain its extremely strong competitive position while maintaining extremely strong capital and exceptional liquidity," S&P said in its ratings report.
The rating reflects Northwestern Mutual's strong financial position, judicious expense management and ability to meet policyowner commitments.
"We regard Northwestern Mutual's business risk profile as excellent," said S&P. "Our view is supported by the company's leading market position in the individual life insurance segment, highly effective distribution force and very strong operating performance."
The rating agency also recognized the company's enterprise risk management (ERM) and governance. "Northwestern Mutual's strong ERM reflects a positive risk-management culture and positive controls of key risks," said S&P. "The company's management team is well-seasoned and clearly manages for long-term stability and strength, with a commitment to mutuality and the policyholder."
The agency added, "The company has shown consistent commitment to its distribution and to its core individual life insurance product line."
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), 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.
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.
SOURCE Northwestern Mutual