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Northwestern Mutual

Northwestern Mutual Insurance Company Details

Northwestern Mutual logo.svg
Type
Private (Mutual)IndustryFinancial ServicesFounded1857HeadquartersMilwaukee, Wisconsin
Key people
John Schlifske, Chairman, President and CEO —- Edmund Fitzgerald (president during ownership of said ship rein)Products Insurance and investmentsRevenue Increase$28.158 billion USD (2016)
Net income
Increase$818 million USD (2016)
Number of employees
7,500 (2017)Websitewww.northwesternmutual.com

Northwestern Mutual Plans details Review

The Northwestern Mutual is an American financial services mutual organization based in Milwaukee. The financial security company provides consultation on wealth and asset income protection, education planning, retirement planning, investment advisory services, trust and private client services, estate planning and business planning. Its products include life insurance, disability income, and long-term care insurance; annuities; investments; and investment advisory products and services. Northwestern Mutual ranked No. 104 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

Northwestern Mutual citation needed

] With losses amounting to $3,500 and having funds of only $2,000, company President Samuel Daggett and Treasurer Charles Nash personally borrowed the needed funds to pay the claims immediately.

Following the accident, the company saw a rapid increase in its sales and an expansion into new markets. By 1865, it was operating throughout the Midwest and had entered the market along the East coast.[citation needed] To reflect this increased presence, the board of trustees changed the company’s name to The Northwestern Mutual Life Insurance Company. In 1864, the company paid its first dividends to policy owners. It again paid dividends in 1867 and 1870, and has done so annually since 1872.

Throughout the early years of the 20th century, Northwestern Mutual focused on life insurance. At the same time, the company worked to increase its accountability. In 1907, company leaders invited policy owners who were not trustees to probe into finances for accountability. This unique tradition has continued to the present day; members of the Policy owners’ Examining Committee have unrestricted access to evaluate Northwestern Mutual’s operations, management and strategic plans independently.

In 1969, the company began offering disability insurance. Less than a decade later, a series of retirement annuities were introduced for the employee benefits market. In the 1990s, the company saw further growth with the introduction of its long-term care insurance. In 2000, the company changed its name to reflect this broadening of its product offerings to just Northwestern Mutual.

In 2001 the company continued to expand its product and service offerings by launching a wholly owned subsidiary known today as Northwestern Mutual Wealth Management Company (NMWMC), a federal savings bank. Through NMWMC, the company offers a range of financial planning products and services including investment management, fee-based financial planning, business retirement plans, and trust and private client services.

In 2015 Northwestern Mutual began construction of Northwestern Mutual Tower and Commons; it opened in 2017.

On March 25, 2015, Northwestern Mutual bought financial planning company LearnVest for over $250 million.

Northwestern Mutual Marketing

Northwestern Mutual serves as the presenting sponsor of the Rose Bowl Game, an NCAA Division I college football bowl game played annually on New Year’s Day.

Northwestern Mutual has registered the .northwesternmutual top-level domain, which is currently the longest TLD.

Northwestern Mutual Awards and honors

Northwestern Mutual was ranked #367 among America’s Best Employers 2019 by Forbes.

  • List of tallest buildings in Milwaukee

Northwestern Mutual References

Updated: April 22, 2020 — 11:16 pm

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