Mutual of Omaha Reports 2013 Financial Results
OMAHA, Neb., March 5, 2014 – Mutual of Omaha today reported 2013 GAAP consolidated net income of $359.2 million on revenues of $6.6 billion, compared with net income of $283.8 million on revenues of $6.4 billion in 2012.
“With record-setting earnings and revenues, 2013 was an exceptional year,” said Mutual of Omaha Chairman and CEO Dan Neary. “These results reflect the hard work of many people: our talented leaders, our sales professionals and our dedicated associates, who I believe are the best in the industry.”
Strong performance across Mutual's business units and operations, including strength in the company's individual Medicare supplement line, growth in voluntary employee benefits products and healthy mortgage lending contributed to 2013 earnings.
Mutual finished 2013 with total assets, retained earnings and statutory surplus at record levels.
Consolidated total assets on Dec. 31, 2013 were a record $32.2 billion, up from $31.0 billion at year-end 2012. Retained earnings were $4.6 billion, up from $4.2 billion a year earlier. Statutory surplus ended 2013 at $2.7 billion, compared with $2.4 billion at year-end 2012.
Mutual's banking operations contributed $61.2 million to 2013 operating income, up from $45.5 million in 2012.
“Mutual of Omaha remains financially secure, customer focused and committed to operational excellence. We firmly believe we are well positioned for continued success,” Neary said.
Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States.