Northwestern Mutual Life Insurance

Northwestern Mutual was founded in 1857 and has its headquarters in Milwaukee, Wisconsin, USA.  It has revenue of $22 billion USD and employs 5,000 people.  It offers insurance for long-term care, disability, life, mutual funds, financial services and also offers income protection, employee benefit, estate planning, trusts, personal needs and retirement benefits.  Northwestern Mutual was originally located in Janesville, Wisconsin and was called the Mutual Life Insurance Company of the State of Wisconsin but relocated to Milwaukee in 1859.  It paid out its first two death claims after a train derailed which had been travelling to Fond du Lac, Wisconsin killed 14 people.  The company only had funds of $2,000 and the losses amounted to $3,500.  Even so the claims were paid immediately after the company president Samuel Daggett and the treasurer Charles Nash borrowed the much needed cash. This was the start of the Northwestern's Mutual reputation that it always keeps its promises.    By 1865 the board of trustees decided to change the name to The Northwestern Mutual Life Insurance Company.  The first dividends it paid to the policyholders was in 1864 and has continued to pay dividends annually since 1872.

Northwestern Mutual at first concentrated on selling life insurance.  Later the company expanded to offer income insurance, retirement annuities disability insurance and by the 1990's started offering long-term care insurance.  After the terrorist attack in September 2001 Northwestern Mutual paid out $125 million in insurance claims.  There were 157 of Northwestern Mutual policy owners who lost their lives in the attack.  The Company sent a team of claim specialists to New York and office staff worked all hours to make sure that most of the claims were paid within five days. Today Northwestern Mutual is has committed as ever to treating people fairly and providing the service that they expect from a Company that prides itself on keeping its promises. This has been Northwestern Mutual's tradition for more than one hundred and fifty years and has never faltered.