Printer Friendly

NORTHWESTERN MUTUAL KEY INDICATORS NEAR RECORD LEVELS; COMPANY MOVES TO EIGHTH LARGEST INSURER

 MILWAUKEE, March 19 /PRNewswire/ -- The key indicators of an insurance company's financial health were at or near record levels of the Northwestern Mutual Life Insurance Company last year, according to the company's annual report now being mailed to 2.4 million policyowners.
 Assets of $39.7 billion moved the company from ninth to eighth largest life insurer in 1992. The total was 11 percent higher than a year before.
 Total surplus was $2.9 billion at the end of the year, $208 million more than at the end of 1991.
 "Our total surplus ratio, which represents added policyowner protection, stood at 9.53 percent, the second highest since 1972," the company's leaders wrote in the report's annual letter to policyowners.
 Chairman and Chief Executive Officer Donald J. Schuenke and President and Chief Operating Officer James D. Ericson reported a record dividend payout "made possible by your company's continuing strength."
 Policyowners are set to receive policy dividend payments of $1.8 billion during 1993, up $160 million from 1992. The dividend interest rate continues at 9.25 percent.
 The report notes that Northwestern Mutual continues to receive the highest possible ratings for financial soundness and claims-paying ability from the major rating agencies. Those agencies are Standard & Poor's, A.M. Best, Moody's and Duff & Phelps.
 The executives note that Northwestern Mutual continued its leadership in the three performance areas that determine policy dividends -- policyowner longevity, investments and expenses.
 The most recent industry study shows Northwestern Mutual as the leader in policyowner longevity. Acquisition and maintenance costs continue to be the lowest among peer companies.
 "The drop in interest rates and the real estate recession not withstanding, investment income exceeded $2.7 billion, an increase of $214 million from 1991," according to the report.
 Net capital gains reached $224 million. The report notes that "the company's strong real estate portfolio experienced minimal problems, with a 2 percent delinquency rate at year end, less than one-third of the industry's September 1992 average."
 "Policyowners' satisfaction, as measured by the rate at which they keep their Northwestern policies, reached its highest level since 1978," Schuenke and Ericson reported. "This industry leading persistency is a key company strength."
 Life insurance in force rose to $276.6 billion last year, an increase of 10.4 percent over 1991. The face amount of insurance sold during 1992 totalled $42 billion, up 7 percent from 1991.
 Premium income of $5.2 billion was up 5 percent from 1991.
 "We can all be pleased that Northwestern Mutual continues to receive impressive testimony to the quality and strength of our products and practices. It gives us an exceptional foundation for creating more good years ahead," the executives reported.
 Recent testimonials included ranking as the most-admired life insurance company in Fortune magazine's annual survey for the eleventh time in 11 years; having the industry's "best sales force" for the third straight time Sales and Marketing Management magazine has conducted a study, and ranking among the country's top 15 companies in the 1993 edition of the book "The 100 Best Companies to Work for in America."
 -0- 3/19/93
 /CONTACT: John Caspari, communications department of Northwestern, Mutual Life Insurance Company, 414-299-7092/


CO: Northwestern Mutual Life Insurance Co. ST: Wisconsin IN: INS SU

SH-OS -- NY050 -- 7992 03/19/93 15:38 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 19, 1993
Words:548
Previous Article:XEROX FILES REGISTRATION STATEMENT FOR OFFERING AND SALE OF 6 MILLION ADDITIONAL SHARES OF COMMON STOCK
Next Article:COMMODORE ENVIRONMENTAL SERVICES, INC. REPORTS 1992 YEAR END RESULTS
Topics:


Related Articles
FORTY-FIVE DECLARATION OF INDEPENDENCE NAMESAKES ARE POLICYOWNERS OF NORTHWESTERN MUTUAL
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 KEY INDICATORS NEAR RECORD LEVELS
NORTHWESTERN MUTUAL ELECTS TWO NEW TRUSTEES; POLICYOWNERS TOLD COMPANY NOW EIGHTH LARGEST LIFE INSURER
NORTHWESTERN MUTUAL ANNOUNCES DIVIDEND PAYOUT INCREASE; TOTAL DIVIDENDS FOR '94 TO BE RECORD $1.8 BILLION; DIVIDEND INTEREST RATE SET AT 8.5 PCT
NORTHWESTERN MUTUAL LIFE MAY HAVE INSURED GUNFIGHTERS
LIFE PREMIUM UP MORE THAN 18 PERCENT FOR NORTHWESTERN MUTUAL; YEAR END REPORT SHOWS ROBUST INCREASES IN POLICIES, VOLUME
NORTHWESTERN MUTUAL ANNOUNCES 11 PERCENT INCREASE IN DIVIDEND PAYOUT
NORTHWESTERN MUTUAL LIFE EARMARKS $100,000 FOR NEW AGENT COMMUNITY SERVICE AWARD
NORTHWESTERN MUTUAL MOVES TO SEVENTH LARGEST COMPANY IN ASSETS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters