Historic Achievements by Northwestern Mutual: $40 Billion Surplus and Record Dividends Set New Industry Standards

Northwestern Mutual Sets New Milestones in 2024

In an unprecedented showcase of financial strength, Northwestern Mutual has made headlines by surpassing a remarkable surplus of $40 billion in 2024. This historic achievement was coupled with the announcement of the company’s highest-ever policyowner dividend, solidifying its commitment to delivering exceptional value to its policyholders. The company, which has been serving customers for 167 years, has demonstrated that it not only thrives in the present but also is fully equipped to provide industry-best services for the foreseeable future.

Tim Gerend, the chairman and CEO of Northwestern Mutual, stated, "Northwestern Mutual is delivering record-setting product value, backed by exceptional financial strength, to the millions of clients we proudly serve – and our best is yet to come." These remarks underline the company's strategy to integrate risk protection with wealth management, all under the guidance of a trusted financial advisor.

With a growing network of over 22,000 financial advisors, Northwestern Mutual significantly expanded its outreach in 2024, enabling the firm to engage with a broader client base. The total revenue reached an impressive $38 billion, and the surplus increased by over $1.9 billion, marking the first time it has crossed the $40 billion threshold. The company also declared a staggering dividend payout of $8.2 billion for 2025, which is more than three times greater than that of its closest competitor.

This substantial dividend is part of a long-standing tradition that extends back to 1872, during which Northwestern Mutual has returned $160 billion to its policyowners. The company’s financial prowess is backed by accolades from all four major ratings agencies, including Fitch Ratings, A.M. Best, S&P Global Ratings, and Moody's Investors Service, which consistently award Northwestern Mutual with the highest financial strength ratings.

2024 also saw considerable achievements in the investment sector. The firm's General Account investment portfolio swelled by more than 5%, amassing nearly $324 billion, significantly up from $308 billion at the close of 2023. Moreover, Northwestern Mutual's wealth management division set a new record, with assets reaching nearly $335 billion—representing a remarkable year-over-year increase of 19%.

Northwestern Mutual continues to dominate the life insurance and disability insurance markets, remaining the largest direct provider of these essential services in the nation. The company offers nearly $2.4 trillion in life insurance death benefits, and has paid out over $6 billion in claims, showcasing its reliability and commitment to its clients.

The company’s reputation as an industry leader has been further solidified by its recent feature on FORTUNE's "World's Most Admired" list, where it was recognized for its corporate assets, product quality, and financial soundness. Additionally, Northwestern Mutual topped the charts in quality of management amidst a planned transition to a new CEO in 2024.

Gerend concluded, "We have the strategy, strength, world-class insurance products, and expert advisors to set ourselves apart from others in the industry." This indicates a forward-looking approach, as the company aims to continue expanding its field force of financial advisors to increase financial security for more Americans.

In the fast-evolving landscape of financial services, Northwestern Mutual proves that commitment to excellence and a strong financial foundation can yield unprecedented success, setting a new benchmark for the industry in 2024 and beyond.