cover article - july 2007
Northwestern Mutual –150 Years of Quiet Success
THE ODDS AGAINST its success were astronomical. When Northwestern Mutual was launched in 1857, Wisconsin was still a frontier state, the nation was paralyzed by a depression, and the founder was an eccentric with a penchant for grandiose dreams.
One-hundred-and-fifty years later, all of the founder’s dreams have come true—and then some. Northwestern Mutual is the reigning champion of individual life insurance in America, with 3.2 million policyowners and more than $1 trillion of insurance in force.
The company and its affiliates now sell a full line of products aimed at providing financial security – from long-term care and disability insurance to mutual funds and annuities – through a network of nearly 7,000 career representatives covering every state of the Union. They are widely considered the best-trained and most productive field force in the industry.
Investing in the community
Since moving to Milwaukee in 1859, Northwestern Mutual has steadily contributed to the city’s economy.
Today the company:
• Employs more than 5,000, accounting for roughly $412 million in area income.
• Pays $72 million to local service suppliers.
• Generates millions in revenues each year for the city during its annual meeting.
Leading in corporate givingThe Northwestern Mutual Foundation generously gives back to the community, leading all other Wisconsin businesses in corporate giving. In 2006, the company gave $7.2 million to local organizations—and $13.2 million to communities nationwide.
In addition, the company’s employees actively volunteer both their time and their money. Northwestern Mutual is the largest contributor to the United Way of Greater Milwaukee and solidly supports the United Performing Arts Fund. Employees also take part in events, such as the Komen Race for the Cure and dozens of community projects, from helping children read to repairing houses for the elderly.
A valued traditionUlysses S. Grant was president 150 years ago, and the James boys were robbing trains. Since those early days of Northwestern Mutual, the country has moved from candle light to laser surgery. But the bedrock principle of Northwestern Mutual remains unchanged: to rank first in benefits to policyowners rather than rank first in size of the company. And by honoring the first principle, it has achieved the second.
Today, the policyowner still comes first. The company that was born in the wilderness all those years ago has risen to undreamed-of heights. Yet the people of Northwestern Mutual remain firmly grounded in doing the right thing, and doing it superlatively well.
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