Northwestern Mutual

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.

In 1864, the company paid its first dividends to policy owners.[8]  It again paid dividends in 1867 and 1870, and has done so annually since 1872. [9]

By 1865, it was operating throughout the Midwest and had entered the East coast, and the board of trustees changed the company’s name to The Northwestern Mutual Life Insurance Company. [10][11]

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. [12]

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. 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.[13]

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.[14]

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.[15]

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.[4]

In 2015 Northwestern Mutual began construction of Northwestern Mutual Tower and Commons; it opened in 2017.[16][17][18][19]

On March 25, 2015, Northwestern Mutual bought financial planning company LearnVest for over $250 million.[20]

In 2018, Northwestern Mutual reduced underwriting time and introduced an online digital platform for clients. [21]

Northwestern Mutual used to serve as the presenting sponsor of the Rose Bowl Game, an NCAA Division I college football bowl game played annually on New Year's Day.[22]

As of 2020, the company had $290.3 billion in assets, $29.9 billion in revenues, and $1.9 trillion worth of active life insurance protection and the company worked with more than 4.6 million clients. They managed $161 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses. [23] [24] [25] [26] 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.[27]

Northwestern Mutual has registered the .northwesternmutual top-level domain,[28] which is currently the longest TLD.

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.
• Northwestern Mutual Investment Management Company manages Northwestern Mutual's investments in public and private debt, private equity and real estate.
• Northwestern Mutual Investment Services is the company's broker-dealer, which is also a registered investment advisor and member FINRA and SIPC.
• Northwestern Mutual Wealth Management Company provides financial planning, investment advisory and trust services, and is a federal savings bank.[29]

Northwestern Mutual has the highest financial strength ratings currently awarded to U.S. life insurers by all of the major rating agencies.[30][31][32][33]

Since launching in 2017, Northwestern Mutual Future Ventures, Northwestern Mutual’s venture capital arm, has invested more than $50 million in 18 tech startups.  [34]

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. [35]

Northwestern Mutual regularly publishes research examining U.S. adults’ attitudes and behaviors toward money, financial decision-making and caregiving. [36]

Northwestern Mutual was ranked #367 among America's Best Employers 2019 by Forbes.[37]

Each year, Northwestern Mutual hosts their Annual meeting for their Financial Representatives in July. On Tuesday night of that week everyone gathers for the company show. Below is a list of past Company Show musicians.

1969- The Brothers and the Sisters, Chase & Park, Ballet Granada, and Bob Hope

1970- Al Hirt, Young Americans, and George Kirby

1971- Danny Davis & the Nashville Brass, Jeanne Steel, Don Rice III, and The Kids Next Door

1972- Glen Campbell and Larry McNeely

1973- The Impact of Brass, Bobby Goldsboro and Red Skelton

1974- Danny Davis & the Nashville Brass and Dionne Warwicke

1975- Sandler and Young, Doc Severinsen and Today’s Children

1976- Bill Cosby and The Lettermen

1977- The Spurrlows, Jim Henley and Roy Clark

1978- Donna Theodore and Glen Campbell

1979- Max Cooper and Lou Rawls

1980- The Lettermen and Bob Hope

1981- Julie Budd and Bob Newhart

1982- Danny Davis & the Nashville Brass and Melissa Manchester

1983- Skiles & Henderson and Neil Sedaka

1984- Fred Travalena and Crystal Gayle

1985- Paul Anka

1986- Michael Davis and John Davidson

1987- Roger & Roger, Gloria Loving and Lee Greenwood

1988- Pamela Blake and Jay Leno

1989- Marvin Hamlisch and Maureen McGovern

1990- Bill Cosby

1991- Michael Johnson and The Smothers Brothers

1992- Robert Klein and Harry Blackstone

1993- Holly Dunn and Lee Greenwood

1994- Gary Morris, Milwaukee Symphony Orchestra and Dick Hardwick

1995- Frankie Valli & The Four Seasons and The Flying Karamazov Brothers

1996- Jeff Foxworthy and Trisha Yearwood

1997- Wynonna Judd and Gordie Brown

1998- Donna Summer and Dick Hardwick

1999- Diamond Rio and Kathy Mattea

2000- Kenny Loggins

2001- Huey Lewis & The News

2002- Chicago

2003- Hall & Oats

2004- Lionel Richie

2005- The Beach Boys

2006- Glenn Frey

2007- Jerry Seinfeld and Sheryl Crow

2008- Reba McEntire

2009- Kool & the Gang and Danny Gokey

2010- Keith Urban

2011- Earth, Wind and Fire

2012- Maroon 5

2013- Tim McGraw

2014- Fun

2015- Lady Antebellum

2016- Imagine Dragons

2017 – Christina Aguilera

2018 – The Zac Brown Band

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