MILWAUKEE (BUSINESS WIRE), November 30, 2011 - Northwestern Mutual leads the industry in individual life insurance premiums1. The company – recognized as the “World’s Most Admired” life insurance company by FORTUNE magazine in 2011 – currently serves 3.3 million policyowners holding 5.2 million policies, and has $1.2 trillion of life insurance protection in force.
Northwestern Mutual tops the “National Underwriter Top 200” for individual life insurance premiums with over $11.2 billion in 2010, more than the next two companies combined. And according to the data, the industry is growing. Between 2009 and 2010 individual life premiums across the industry increased nearly $9 billion from $89 billion to $98 billion, underscoring the growing interest in managing risk as part of one’s overall financial planning.
“Regardless of the economic climate, people need protection they can count on, financial professionals they can trust and dependable solutions that help safeguard their economic futures,” said Dave Simbro, Northwestern Mutual vice president – life product. “This is why year after year we are an industry leader. Individuals recognize Northwestern Mutual’s track record of meeting its policyowners’ needs, paying out dividends and offering a breadth of consistently performing product solutions.”
Northwestern Mutual also pays the most in dividends to its policyowners. The company just announced plans to pay nearly $5 billion in dividends to its policyowners in 2012, more than double the ordinary life insurance dividends of its nearest competitor and the second-largest payout in the company’s history.
Earlier this year, the company also announced that it continues to lead in long-term value of permanent life insurance, as measured by Blease Research.
“The significance is that we’re helping Americans secure their financial futures,” continued Simbro. “The flexibility and guaranteed growth of permanent life insurance creates a firm foundation to safeguard families throughout their lifetimes.”
For more information about permanent life insurance with Northwestern Mutual:
- Firefighter Dad and Teacher Mom Use Permanent Life Insurance to Provide Stability, Security and Peace of Mind for their Family
- Northwestern Mutual Study Reveals Americans’ Discipline for Long-Term Planning in an Age of Immediacy
- Northwestern Mutual Reminds Americans that Life Insurance is the Foundation of Long-Term Financial Security
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company – Milwaukee, WI (Northwestern Mutual) has helped clients achieve financial security for more than 150 years. As a mutual company with over $1 trillion of life insurance protection in force, Northwestern Mutual seeks to share its gains with policyowners and deliver consistent and dependable value to clients over time.
Northwestern Mutual is an industry leader in total individual life insurance and disability insurance dividends paid to participating policyowners. Though dividends are not guaranteed, are reviewed annually and are subject to change, the company has paid life insurance dividends every year since 1872.
Northwestern Mutual and its subsidiaries offer a holistic approach to financial security solutions including: life insurance, long-term care insurance, disability insurance, annuities, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment advisor, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company; and Russell Investment Group. Further information can be found at http://www.northwesternmutual.com.
1 As reported in National Underwriter, September 19, 2011. Data is compiled by Highline Data, a sister company to National Underwriter, and derived from the NAIC filings database and public financial statements of the companies themselves.