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NORTHWESTERN MUTUAL ANNOUNCES AN 11 PERCENT DIVIDEND INCREASE Total Payout for 1993 to be $1.78 Billion 9.25 Percent Dividend Interest Rate Continues

 NORTHWESTERN MUTUAL ANNOUNCES AN 11 PERCENT DIVIDEND INCREASE
 Total Payout for 1993 to be $1.78 Billion
 9.25 Percent Dividend Interest Rate Continues
 MILWAUKEE, Oct. 30 /PRNewswire/ -- The Northwestern Mutual Life Insurance Company has set a total dividend payment of $1.78 billion for 1993, an increase of 11 percent -- or $183 million -- over last year's payout.
 A 9.25 percent dividend interest rate will continue to be credited for non-borrowed policy cash values on Whole Life policies with direct recognition and on all disability insurance policies.
 "In an environment characterized by very low interest rates, this year's dividend action serves our 2.3 million policyowners well," said Chairman and CEO Donald J. Schuenke, citing the prime rate which has hovered lately in the six percent range; 90-day T-Bills that have dipped below three percent, and 10-year Treasury Bonds around 6.50 percent.
 "An exceptional dividend interest rate combined with high performing products, our financial strength and the high level of service provided by our agents forms an extremely attractive package," he said.
 The growth in payments arises because of growth of in-force business and the fact that dividends normally increase with duration," Schuenke said. He noted that a typical Northwestern Mutual policy is in-force for more than 40 years.
 He called the continuation of the 9.25 percent interest rate clear indication of the company's financial strength and soundness.
 "Our dividend payout, accomplished this year in the face of uncertain economic times, is a very good demonstration of Northwestern's ability to perform well for its policyowners under any conditions."
 Northwestern Mutual, which moved from tenth to ninth largest insurance company this year in terms of assets, has the highest ratings of the four key insurance company rating firms -- Standard & Poor's, Moody's, Duff & Phelps and A.M. Best Co.
 Assets exceeded $39 billion and, in 1992, the company's 2.3 million policyowners received dividends that exceeded the annual premium on almost 70 percent of whole life insurance policies more than 10 years old.
 -0- 10/30/92
 /CONTACT: John Caspari of Northwestern Mutual Life Insurance Company, 414-299-7092/ CO: Northwestern Mutual Life Insurance Company ST: Wisconsin IN: INS SU: DIV


BM -- CL013 -- 7192 10/30/92 14:25 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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