March 15, 2017
OMAHA, Neb. – Mutual of Omaha today reported record 2016 GAAP pre-tax operating income of $526.3 million on revenues of $7.9 billion, compared with operating income of $499.7 million on revenues of $7.2 billion in 2015.
After taxes, consolidated net income was $356.6 million, compared with $333.0 million in 2015.
“As a mutual company owned by policyholders, Mutual of Omaha exists to help our customers protect what they care about and meet their financial goals. Financial strength is at the core of that mission, and our 2016 earnings reflect a financially strong, growing organization that is focused on listening to its customers and meeting their needs,” said CEO James Blackledge.
Solid growth in revenue and earnings from Medicare supplement coverage and improved group insurance profitability contributed to the strong 2016 results.
“Thanks to the hard work and dedication of our leaders, sales professionals and associates, Mutual of Omaha is a financially strong organization that’s focused on our customers and committed to doing business with integrity,” Blackledge said.
Mutual finished 2016 with total assets, retained earnings and statutory surplus at record levels.
Consolidated total assets on Dec. 31, 2016 were $38.5 billion, up from $35.6 billion at year-end 2015. Retained earnings were $5.6 billion, up from $5.2 billion a year earlier. Statutory surplus ended 2016 at $3.0 billion, compared with $2.9 billion at year-end 2015.
For more information about Mutual of Omaha, visit www.mutualofomaha.com.