Archive for July, 1998

NML’s financial services reach will grow, agents told But focus on life insurance won’t change, Ericson says at meeting

Northwestern Mutual Life Insurance Co. will expand into other financial services while remaining primarily a life insurer, President and Chief Executive Officer James Ericson said Monday at the annual NML agents meeting. “We are working to expand into money management, into trust services and into pension services, including 401(k),” Ericson said during his speech at […]

July 20th, 1998 | Posted in Life Insurance | No Comments

NML plots out pathways to change No road that insurance company chooses will be free of obstacles

“Mutual” will always be a part of Northwestern Mutual Life Insurance Co.’s name, company executives say. But the meaning may be expanded some day.The corporate structure of NML, which is holding its annual agents meeting through Wednesday, may change to a mutual holding company. That would open a new world for NML, which is planning […]

July 19th, 1998 | Posted in Life Insurance | No Comments

Deconstructing Mutual Benefit’s life The biggest insurance company ever to fail is closing the books on an extraordinary recovery

From the start, on July 16, 1991, the process was called a “rehabilitation,” though the aim was more urgent than the term implied. Mutual Benefit Life Insurance Co., one of the nation’s oldest and most respected insurers, was suddenly and perilously near death, the victim of a financial panic akin to a Depression-era run […]