Full Answer
How many employees does Northwestern Mutual have in the US?
Northwestern Mutual has 32,758 employees across 5 locations and $31.12 B in annual revenue in FY 2020. See insights on Northwestern Mutual including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft.
What is the history of Northwestern Mutual Life Insurance Company?
By 1865, the company was operating throughout the Midwest and had entered the market along the East Coast, and the board of trustees changed the company's name to The Northwestern Mutual Life Insurance Company. Throughout the early years of the 20th century, Northwestern Mutual Life Insurance Company focused on life insurance.
Does Northwestern Mutual offer long-term care insurance?
Northwestern Long Term Care Insurance Company offers Northwestern Mutual's long-term care insurance. Northwestern Mutual Investment Management Company manages Northwestern Mutual's investments in public and private debt, private equity and real estate.
What is Northwestern Mutual future ventures?
Northwestern Mutual has the highest financial strength ratings currently awarded to U.S. life insurers by all of the major rating agencies. Since launching in 2017, Northwestern Mutual Future Ventures, Northwestern Mutual's venture capital arm, has invested more than $50 million in 18 tech startups.
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Why is Northwestern Mutual important?
Taking away the everyday financial stress that most people experience (1 out of every 3, in fact), helps them breathe easier, sleep better, and feel happier. 1 That's why Northwestern Mutual exists. It's why we do what we've been doing for the last 160 years.
Do mutual funds have shareholders?
As a mutual company, we don't have shareholders – we report to our policyowners.
What is Northwestern Mutual?
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, financial planning trust and private client services, estate planning and business planning. Its products include life insurance, permanent life insurance, disability income, and long-term care insurance; annuities; investments; and investment advisory products and services. Northwestern Mutual ranked No. 90 on the 2021 Fortune 500 list of the largest United States corporations by total revenue and is in the top 30 by assets held. The firm distributes a portion of its earnings to eligible policyholders as annual dividends.
Where is Northwestern Mutual located?
Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of Wisconsin on March 2, 1857. Originally located in Janesville, Wisconsin, the fledgeling company relocated to Milwaukee in 1859. Shortly after, the company experienced its first two death claims, when an excursion train traveling from Janesville to Fond du Lac, Wisconsin derailed, killing 14 people, two of whom were policy owners. 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.
How much is Northwestern Mutual worth in 2021?
As of 2021, the company had $308.8 billion in assets, $31.1 billion in revenues, and $2 trillion worth of active life insurance protection and the company worked with more than 4.75 million clients. They managed $200 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses. In June 2020, Northwestern Mutual also reported a $1.6 million pledge to All-In Milwaukee to finance the latest Talent of the Future initiative over the next four years, through its Foundation and in collaboration with the Diversity and Inclusion department.
How much is Northwestern Mutual giving to All In Milwaukee?
In June 2020, Northwestern Mutual also reported a $1.6 million pledge to All-In Milwaukee to finance the latest Talent of the Future initiative over the next four years, through its Foundation and in collaboration with the Diversity and Inclusion department.
When did Northwestern Mutual pay dividends?
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.
When did Northwestern Mutual start offering disability insurance?
For the first half of the 1900s, Northwestern Mutual focused on life insurance. In 1969, the company began offering disability insurance, and by the late 1970s a series of retirement annuities were available. In the 1990s, the company introduced long-term care insurance, and in 2000, the company changed its name to Northwestern Mutual.
When did Northwestern Mutual change its name?
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.
What is Northwestern Mutual?
The Northwestern Mutual Life Insurance Company is a financial services organization that provides financial planning and insurance services. It offers life, disability income, and long-term care insurance, annuities, brokerage and advisory services, trust services, and discretionary portfolio management solutions.
Where is Northwestern Mutual located?
Northwestern Mutual has offices in Milwaukee and Franklin.
Is Northwestern Mutual a founding sponsor?
WASHINGTON, Aug. 10, 2021 /PRNewswire/ -- The CFP Board Center for Financial Planning today announced that Northwestern Mutual will renew its support as a Founding Sponsor with a $1 million gift. A Founding Sponsor since 2016, Northwestern Mutual works with the Center to develop programs...
Overview
History
Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of Wisconsin on March 2, 1857. Originally located in Janesville, Wisconsin, the fledgling company relocated to Milwaukee in 1859. Shortly after, the company experienced its first two death claims, when an excursion train traveling from Fond du Lac, Wisconsin, to Chicago derailed, killing 14 people, two of whom were policy owners. With losses amounting to $3,500 while the company p…
Subsidiaries
The company's services and products are offered through several subsidiaries:
• Mason Street Advisors is an SEC-registered investment advisor for Northwestern Mutual Series Fund variable annuity and variable life products.
• Northwestern Long Term Care Insurance Company offers Northwestern Mutual's long-term care insurance.
Financial ratings
Northwestern Mutual has the highest financial strength ratings currently awarded to U.S. life insurers by all of the major rating agencies.
Investment and innovation
Since launching in 2017, Northwestern Mutual Future Ventures, Northwestern Mutual's venture capital arm, has invested more than $50 million in 18 tech startups.
In 2019, the company partnered with Accenture, Advocate Aurora Health, Johnson Controls, Kohl's and Rockwell Automation to form the MKE Tech Hub Coalition, an effort focused on attracting and retaining tech talent in the Milwaukee region.
Research
Northwestern Mutual regularly publishes research examining U.S. adults’ attitudes and behaviors toward money, financial decision-making and caregiving.
Awards and honors
Northwestern Mutual was ranked No. 368 among America's Best Employers 2021 by Forbes.
See also
• List of tallest buildings in Milwaukee