Published:
Northwestern Mutual Reaffirms #1 Rank in U.S. Direct Life Insurance, Managing More Than 10% Market-Share
MILWAUKEE, Sept. 4 /PRNewswire/ -- Northwestern Mutual oversees more than
10 percent of the total U.S. direct life insurance market, based on the most
recent data* from A.M. Best. This reaffirms Northwestern Mutual's number one
rank in U.S. individual life insurance market share, a position the financial
security company has held since 2000. Significantly outpacing the industry
year over year, Northwestern Mutual increased its total U.S. direct life
insurance premium by 9.0% from first quarter 2007 to first quarter 2008,
compared to the overall industry average of 0.9%.
This market-share milestone underscores Northwestern Mutual's 150-plus
year commitment to helping its clients manage risk, which is particularly
relevant today as people are living longer, saving less, and realizing the
need to assess their financial futures.
"We have close to 3.5 million policyowners, and take great pride in
helping each of them with their financial security planning," said Edward J.
Zore, Northwestern Mutual president and CEO. "In uncertain economic times,
life insurance is a flexible financial asset that can provide protection, cash
value and confidence for Americans as they take control of their financial
future. Regardless of one's life stage, life insurance is the foundation of
any sound financial security plan."
Northwestern Mutual has always received the best possible insurance
financial strength ratings from Standard & Poor's, Fitch Ratings, Moody's and
A.M. Best, which affirmed the company's A++ rating in March 2008. Because of
the company's strong financial position, Northwestern Mutual expects to
provide $5 billion in dividends to policyowners in 2008.
Northwestern Mutual has also collected top honors in the life/health
sector of FORTUNE magazine's "America's Most Admired Companies" survey for 25
years, including 2008. TheMilwaukee firm is the only company to place first
every year it was ranked.
* NOTE: Northwestern Mutual's calculation of U.S. direct life insurance
market share includes new premium sales, renewal premium and dividend
additions inthe United States only.
About Northwestern Mutual
The Northwestern Mutual Life Insurance Company,Milwaukee, WI, a FORTUNE
500 company with over $1 trillion of life insurance protection in force, has
been helping its policyowners and clients achieve financial security for more
than 150 years.
Through the Northwestern Mutual Financial Network, the marketing name for
the company's nationwide sales distribution arm, the company and its
affiliates deliver a unique approach to combining insurance and investment
solutions to help clients achieve financial security. These solutions include
life insurance, long-term care insurance, disability insurance, annuities,
mutual funds, and employee benefit services. Northwestern Mutual's
subsidiaries and affiliates are comprised of Northwestern Mutual Investment
Services, LLC, a wholly-owned company, broker-dealer, member of FINRA and
SIPC; the Northwestern Mutual Wealth Management Company, a wholly-owned
company of Northwestern Mutual and limited purpose federal savings bank;
Northwestern Long Term Care Insurance Company; and the Russell Investment
Group.
Further information on Northwestern Mutual, its subsidiaries and
affiliates can be found at: http://www.nmfn.com.
SOURCE Northwestern Mutual
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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