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Mutual of Omaha

From Wikipedia, the free encyclopedia
American insurance and financial company
This article is about the insurance and finance company. For the TV show, seeWild Kingdom.
Mutual of Omaha Insurance Company
Mutual of Omaha's new headquarters under construction in Downtown Omaha, 2025
Company typePrivate
IndustryFinance,Insurance
Founded1909; 117 years ago (1909)
HeadquartersMutual of Omaha Building,,
U.S.
Key people
James Blackledge (chairman of the board andCEO)
ProductsLife insurance
Medicare supplement insurance
Annuities
Long-term care insurance
RevenueIncreaseUS$9.347 billion(2018)[1]
IncreaseUS$277.3 million(2018)[1]
Total assetsIncreaseUS$43.913.4 billion(2018)[1]
Total equityIncreaseUS$6.684 billion(2018)[1]
Number of employees
6,314[1] (2018)
Websitemutualofomaha.com

Mutual of Omaha Insurance Company is an AmericanFortune 500mutual insurance andfinancial services company based inOmaha, Nebraska.[1] Founded in 1909, as Mutual Benefit Health & Accident Association, Mutual of Omaha is a financial organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States.[2]

The company provides a variety of financial services, including Medicare Supplement, life insurance, long-term care coverage and annuities, as well as group coverage including life, disability and 401(k).[3]

Subsidiaries

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Mutual of Omaha has multiple subsidiaries including:

United of Omaha Life Insurance Company

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Founded in 1909, this company provides life insurance, pension and annuity products for groups and individuals.[4]

United World Life Insurance Company

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Through direct marketing and independent agent networks, this company has offered health and accident coverage and specialty life plans since 1983.[4]

Mutual of Omaha Investor Services, Inc.

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Mutual funds are offered to individuals through the company's agents and Retirement Plans brokers.[4]

East Campus Realty, LLC

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East Campus Realty, LLC was established to developMidtown Crossing at Turner Park, which is directly to the east of Mutual of Omaha's headquarters.

History

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Mutual of Omaha was founded in 1909 by a medical student at Omaha's Creighton University and his wife,Dr. C.C. Criss and Mabel Criss.[5] It has grown into a Fortune 500 company offering insurance and financial solutions for individuals, businesses and groups throughout the United States.

In 1927,V. J. Skutt joined their team and was named president in 1949. With a license to sell insurance in all 48 states, an abbreviated name and distinctive Native American symbol, the company gained nationwide prominence in the 1950s.

In 1963, the company began sponsoringMutual of Omaha's Wild Kingdom, a wildlife program hosted byMarlin Perkins andJim Fowler that remained on television for more than 20 years. The company was one of the first companies to provide disability insurance to non-professional workers, and in 1966 was among the first companies to provide supplementary coverage for people enrolled inMedicare.[4]

  • March 5, 1909 – Mutual Benefit Health and Accident Association filed articles of incorporation with the Nebraska Insurance Department.[6]
  • 1920 – Premium income exceeded $1 million for the year.
  • 1924 – Mutual of Omaha ranked 8th in comparison to other insurance companies.
  • 1926 – The subsidiary, United Benefit Life Insurance Company, was founded.
  • 1941 – The company founded its Group Insurance department.
  • 1950 – Mutual Benefit Health & Accident Association changed its name to Mutual of Omaha Insurance Company.
  • January 6, 1963 –Mutual of Omaha's Wild Kingdom premiered on network television. The original show was hosted byMarlin Perkins,Jim Fowler, and Peter Gros, and ran until 1988.[7]
  • 1974 - Slogan changed from "People who pay" to "People you can count on", through 2020.
  • 1981 – United Benefit Life Insurance Company became United of Omaha.
  • 2001 – The company revitalized its brand and began sponsoringUSA Swimming.
  • 2002 – A newWild Kingdom series premiered onAnimal Planet.
  • 2005 – Daniel P. Neary is named chairman and chief executive officer.
  • 2007 – Omaha Financial Holdings, Inc. was created as the parent company of Mutual of Omaha's banking initiatives.
  • 2009 – Mutual of Omaha celebrates their 100th anniversary.
  • 2015 – James T. Blackledge is named chief executive officer and elected to the board.[8]
  • 2016 – The company reaches $3 billion in policyholder surplus.
  • 2018 – James T. Blackledge replaces Dan Neary as chairman of the board.[9]
  • 2019 – Agreed to sell Mutual of Omaha Bank to CIT's banking subsidiary, CIT Bank, N.A., for a purchase price of $1 billion.
  • 2020 – The logo was changed from the Indian to a lion. The new slogan was: "Protect your kingdom".
  • 2022 − Mutual of Omaha announced they would build theirnew headquarters in downtown Omaha on the site of theW. Dale Clark Library, with the under construction height making it thenew tallest building in Omaha.

As of 2020, Mutual of Omaha holds the 300th rank on Fortune 500's top companies. The current CEO is James T. Blackledge. The company and its affiliates have more than 5,000 employees plus a network of sales advisors. The home office remains in Omaha, NE, with satellite or sales offices in most states. The company holds an A+ rating from A.M. Best and AA− rating from Standard & Poor's.[citation needed]

Company governance

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Chief Executive Officer

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1964–1983V. J. Skutt
1984–1996Thomas Skutt
1998–2004John Weekly
2005–2015Dan Neary
2015–presentJames Blackledge

Chairman of the Board

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1949–1953Dr. C.C. Criss
1953–1985V.J. Skutt
1986–1996Thomas Skutt
1998–2004John Weekly
2005–2018Dan Neary
2018–presentJames Blackledge

Chief Financial Officer

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Nov. 2025–present Brody Merrill

Sept. 2019-Nov 2025 Rick Hrabchak

Recognition

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  • 2016 - Mutual of Omaha received an A+ rating from A.M. Best Company, Inc. for overall financial strength and ability to meet policy holder-related obligations.[10]
  • 2017 - Mutual of Omaha was ranked 5th of 18 large life insurance companies byNerdWallet.[11]

Wild Kingdom and professional golfing sponsorships

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In 1963, Mutual of Omaha introduced a wildlifetelevision program,Mutual of Omaha'sWild Kingdom. The original show ran from 1963 to 1988, and their toll-free phone number in that era was mentioned so frequently that many people still remember the number decades later, although it is no longer used by this company.[12] The show has been since relaunched several times, with its current iteration running as a Saturday morning offering as part ofNBC'sThe More You Know and produced byHearst Media Production Group.[13]

Mutual of Omaha sponsors 7PGA Tour golfers and 2LPGA golfers, includingRussell Knox,Henrik Stenson,Pádraig Harrington,Paula Creamer,Jessica Korda,Bud Cauley,Brandon Hagy,Robby Shelton andDavid Leadbetter andCameron Young.[14]

See also

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References

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  1. ^abcdef"Mutual of Omaha Insurance".Fortune. Retrieved2023-09-16.
  2. ^"Good Financial Cents. Mutual of Omaha Mutual Life Insurance Company Review". Good Financial Cents. 2017. RetrievedMarch 16, 2017.
  3. ^"Bloomberg. Company Overview of Mutual of Omaha Insurance Company". Bloomberg. 2016. RetrievedMarch 16, 2017.
  4. ^abcd"Mutual of Omaha Affiliates in the Insurance and Financial Services Sector".www.mutualofomaha.com.
  5. ^DXD."Mutual of Omaha Celebrating 115 Years".www.mutualofomaha.com. Retrieved2025-03-13.
  6. ^V. J. Skutt,Mutual of Omaha, "the good neighbor." (Newcomen Society in North America, 1961) p11
  7. ^"Mutual of Omaha's Wild Kingdom. The Adventure That Started It All". A.M. Best. 2017. RetrievedMarch 16, 2017.
  8. ^Mutual of Omaha (2017)."Leadership - Mutual of Omaha".mutualofomaha.com. Retrieved2018-01-10.
  9. ^Mutual of Omaha (2018-01-10)."Mutual of Omaha".mutualofomaha.com. Retrieved2018-01-10.
  10. ^"A.M. Best. A.M. Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries". A.M. Best. December 14, 2016. RetrievedMarch 16, 2017.
  11. ^"Nerd Wallet. Mutual of Omaha Life Insurance Review 2017". Nerd Wallet. 2017. RetrievedMarch 16, 2017.
  12. ^"Mutual of Omaha's Wild Kingdom | Xenorama".
  13. ^"Home".www.mutualofomaha.com.
  14. ^"Golf Sponsorships, Lineup of Golf Ambassadors for Mutual of Omaha".www.mutualofomaha.com.

External links

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