MILWAUKEE — Northwestern Mutual set revenue and dividend records last year, reaching a $40 billion surplus and declaring a dividend payout of $8.2 billion for 2025.
The Milwaukee-based life insurance firm increased its team of financial advisors and other employees to 22,000 in 2024, maintaining its status as one of the largest private-sector employers in the region.
“I have a lot of talented colleagues here in Milwaukee, here in the home office helping us deliver these results,” CFO Todd Jones told WTMJ.
For the 34th consecutive year, Northwestern Mutual received the highest-available financial strength rating for a U.S. life insurer. The four major rating agencies — Fitch Ratings, A.M. Best, S&P Global Ratings and Moody’s Investors Service — rated Northwestern Mutual as “elite.”
“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,” Tim Gerend, Northwestern Mutual chairman, president and chief executive officer said in a press release. “Based on our results, it’s clear that our approach to comprehensive planning – blending risk protection and wealth management through the guidance of a trusted advisor – is resonating in the marketplace.”
According to the press release, Northwestern Mutual has payed out over $160 billion in dividends to policyowners since 1872. The firm serves more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services.
Jones told WTMJ the surplus increase will help the company continue to grow and navigate unexpected events.
“Whether it’s regulatory, tax or legislative, we can’t predict what’s going to happen; but we can be ready for it,” Jones told WTMJ. “Financial strength will not just help us weather through it, but really take advantage of it.”
