Northwestern Mutual to pay record-setting dividend to policyholders

Northwestern Mutual has introduced that it’ll as soon as once more award its policyholders an annual dividend – anticipated to succeed in a record-setting whole of $7.3 billion in 2024.

Northwestern Mutual has paid its policyholders a dividend yearly since 1872. The corporate has paid out greater than $150 billion in dividends in that point.

The projected 2024 payout will embody the best quantities within the firm’s historical past for holders of entire life insurance policies ($6.1 billion), incapacity insurance coverage ($550 million) and annuities ($240 million), the corporate stated.

“Our distinctive monetary power and superior product worth are hallmarks of our firm, differentiating Northwestern Mutual within the market and deepening belief with all these we proudly serve,” stated John Schlifske, chairman, president and CEO of Northwestern Mutual. “Subsequent 12 months’s historic dividend demonstrates one once more our unflinching deal with returning worth to policyholders and guiding their journey towards larger monetary safety.”

The 4 main rankings companies – AM Finest, S&P International, Fitch Rankings and Moody’s – have given Northwestern Mutual the best monetary power rankings afforded to any US insurer, the corporate stated. Northwestern Mutual is one in every of solely 5 corporations throughout all industries to be so acknowledged by Moody’s.

“Northwestern Mutual stays dedicated to paying the best stage of dividends over time whereas retaining our actually distinctive monetary power,” Schlifske stated. “Amidst persevering with financial and market volatility, we’re accelerating our path ahead, delivering for our policyowners in the present day whereas guaranteeing our relevance for generations to return.”

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