Northwestern Mutual Achieves Top Financial Strength Ratings for 34 Years Running

Northwestern Mutual's Financial Strength Ratings Reaffirmed

Northwestern Mutual, the historic financial services company with 167 years of experience, demonstrates its unwavering commitment to financial stability. Recently, the company received an exceptional endorsement from Fitch Ratings, which awarded Northwestern Mutual its highest classification—'AAA Exceptionally Strong'—along with a 'stable outlook.' This commendation marks the 34th consecutive year that Northwestern Mutual has achieved the top-tier financial strength ratings across all four principal rating agencies, including Moody's, SP Global Ratings, and AM Best. This distinguishes Northwestern Mutual as the only U.S. life insurer to attain such elite recognition consistently.

Unmatched Financial Strength and Client Value

Todd Jones, the Chief Financial Officer, emphasized the significance of these ratings by stating, "We're delivering both historic value and unsurpassed financial strength to our policyowners through what I call our 'and' promise—financial strength and value, not 'either/or.'" This dual commitment showcases how Northwestern Mutual leverages its unparalleled strength to not only survive but thrive, regardless of economic fluctuations. With record-high surplus and liquidity, the company assures its policyholders of a steadfast commitment, promising both security and growth opportunities.

In 2025, Northwestern Mutual anticipates disbursing a staggering $8.2 billion in dividends to its policyowners, marking an almost threefold increase compared to its nearest competitor and surpassing its 2024 payouts by over $800 million. The 2023 fiscal year concluded with the company generating revenues exceeding $36 billion, complemented by a surplus of more than $38 billion, setting unprecedented records.

Insights from Major Ratings Agencies

Fitch's assessments highlight Northwestern Mutual's outstanding capitalization and market positioning within the U.S. individual life insurance sector. They noted the company's prudent liability profile along with a successful distribution network and a considerable block of traditional life insurance as key competitive advantages. Similarly, Moody's assigned the 'AAA' rating to reflect Northwestern Mutual's intrinsic strengths, including its leading market position, a strong distribution network, and a resilient balance sheet.

SP Global Ratings acknowledged that the firm’s robust and stable operational performance significantly enhances its ability to distribute meaningful dividends to policyholders. Likewise, AM Best commended Northwestern Mutual for its productive career agency force, identifying it as a competitive edge in attracting and retaining talent.

A Legacy of Financial Security

For over 165 years, Northwestern Mutual has dedicated itself to helping individuals and businesses achieve their financial goals. Through an integrated planning approach, Northwestern Mutual combines the expertise of its financial professionals with an innovative digital experience. It offers a range of industry-leading products tailored to provide security and peace of mind to its clients. The company manages more than $655 billion in total assets and provides life, disability income, and long-term care insurance, alongside annuities and advisory services that cater to the financial needs of over 5 million clients.

Recognized as one of the