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Northwestern Mutual to pay record $6 billion in dividends to policy owners
Northwestern Mutual Life Insurance Co. said Wednesday it expects to pay a record $6 billion in dividends to policy owners next year.
The dividend payout is up from this year's estimated $5.6 billion.
"For more than 160 years, we’ve delivered long-term financial security for our policy owners, empowering them to live the life they choose,” John E. Schlifske, chairman, president and chief executive officer of Northwestern Mutual, said in a statement. “Once again, we’ve remained steadfast in our commitment to our policy owners, including sharing our success through dividends.”
Michael G. Carter, executive vice president and chief financial and risk officer for the Milwaukee-based insurer and financial advisory firm, said the largest-ever dividend payout was the result of the company's fundamental focus on underwriting, expense control and investment performance.
"When you do all three, you are able to give back to the policyholders a dividend," Carter said in an interview Wednesday.
Northwestern Mutual has $1.8 trillion worth of life insurance in force. In addition to life insurance, the company offers disability income and long-term care insurance, annuities, and brokerage and advisory services. Its 2018 revenue was $28.5 billion.
Northwestern Mutual Life Insurance Co. said Wednesday it expects to pay a record $6 billion in dividends to policy owners next year.
The dividend payout is up from this year's estimated $5.6 billion.
"For more than 160 years, we’ve delivered long-term financial security for our policy owners, empowering them to live the life they choose,” John E. Schlifske, chairman, president and chief executive officer of Northwestern Mutual, said in a statement. “Once again, we’ve remained steadfast in our commitment to our policy owners, including sharing our success through dividends.”
Michael G. Carter, executive vice president and chief financial and risk officer for the Milwaukee-based insurer and financial advisory firm, said the largest-ever dividend payout was the result of the company's fundamental focus on underwriting, expense control and investment performance.
"When you do all three, you are able to give back to the policyholders a dividend," Carter said in an interview Wednesday.
Northwestern Mutual has $1.8 trillion worth of life insurance in force. In addition to life insurance, the company offers disability income and long-term care insurance, annuities, and brokerage and advisory services. Its 2018 revenue was $28.5 billion.
