Mutual of Omaha Reports Strong 2020 Operating Results
OMAHA, Neb. (March 19, 2021) – Despite a year defined by the impacts of the COVID-19 pandemic, Mutual of Omaha reported revenue growth, solid earnings and a strong policyholder surplus for 2020.
GAAP pre-tax operating income for 2020 was $742 million on revenues of $11.0 billion. Net income after taxes and realized investment gains was $698 million.
Consolidated total assets on Dec. 31, 2020 were $47.3 billion, retained earnings were $7.6 billion and statutory surplus ended 2020 at $3.6 billion.
“Despite 2020’s challenges, Mutual of Omaha is a financially strong organization that is focused on our policyholders and well-positioned for the future,” said Chairman and CEO James Blackledge. “Our financial strength enabled us to provide COVID-related benefit payments to thousands of customers and their beneficiaries, and our policyholders can count on us to be there when needed.”
Blackledge recognized the contributions of the company’s associates, who met the challenges associated with the COVID-19 pandemic.
“These strong financial results are a testament to the creativity, problem-solving and dedication of our employees and sales professionals, who overcame countless obstacles to deliver for our policyholders,” he said.
Founded in 1909, Mutual of Omaha is a highly rated, Fortune 500 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States. As a mutual company, Mutual of Omaha is owned by its policyholders and committed to providing outstanding service to its customers. For more information about Mutual of Omaha, visit www.mutualofomaha.com.
Note: Unless otherwise noted, all financial results discussed above are based on accounting principles generally accepted in the United States of America.