Mutual of Omaha
From Wikipedia, the free encyclopedia
| Mutual of Omaha Insurance Company | |
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| Type | Mutual |
| Founded | Omaha, Nebraska, USA (1909) |
| Headquarters | Omaha, Nebraska, USA |
| Key people | Daniel P. Neary, Chairman and CEO |
| Industry | Insurance & Financial Institutions |
| Products | Life Insurance Medicare Supplement Insurance Annuities and Retirement Plans Long-term Care Insurance Health, Accident and Special Coverages Investment Products Disability Insurance Dental Insurance Voluntary/Worksite Products Special Markets(2006)[1] |
| Revenue | $4.2 billion USD (2007) [2] |
| Net income | $217 million USD (2007) [3] |
| Employees | 4,200 (July, 2007) |
| Website | MutualofOmaha.com |
Mutual of Omaha, best known for sponsoring the popular television show Mutual of Omaha's Wild Kingdom, is a Fortune 1000 insurance and financial services company headquartered in Omaha, Nebraska. In 1909, the company began as Mutual Benefit Health and Accident Association selling comprehensive medical coverages to minimize individual's liability in the event of an accident or illness.[4]
Throughout the years, the company grew from a small regional insurer to a large national financial services organization that offers a broad portfolio of individual and group products.[5] In 1962, the company changed its name from Mutual Benefit Health and Accident Association to Mutual of Omaha.
Recently, the company ventured into other arenas by exploring new lines of business including Continuum Worldwide,[6] an operational management services and consulting organization, and Omaha Financial Holdings, Inc., the company’s banking operation holding company.[7]
Today, Mutual of Omaha provides insurance and financial products for individuals, businesses and groups throughout the United States. In the individual market, Mutual offers life, Medicare supplement, long-term care and disability insurance as well as annuities. The company also offers employee benefits including life, disability, accidental death and dismemberment and retirement plans.
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[edit] History
1909 (March 5) – Mutual Benefit Health and Accident Association filed articles of incorporation with the Nebraska Insurance Department
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
1962 – Mutual Benefit Health & Accident Association changed its name to Mutual of Omaha Insurance Company
1963 – Mutual of Omaha’s Wild Kingdom aired on network television for the first time. The original show ran until 1988
1981 – United Benefit Life Insurance Company became United of Omaha
2001 – The company revitalized its brand and began sponsoring USA Swimming
2002 – A new Wild Kingdom series premiered on Animal Planet
2006 – Continuum Worldwide (formerly OISC) was created
2006 – Omaha Financial Holdings, Inc. was created as the parent company of Mutual of Omaha’s banking initiatives[8]
[edit] Wild Kingdom
In 1963, Mutual of Omaha introduced the wildlife television program, Mutual of Omaha's Wild Kingdom. The original show ran from 1963 to 1988. The show was revitalized in 2002 with a new series on the cable television network Animal Planet. Mutual of Omaha has recognized the importance of this program as many of the people who grew up with the original series still recognize the company as being associated with the program.
[edit] Subsidiaries
Mutual of Omaha has multiple subsidiaries including:
[edit] United of Omaha Life Insurance Company
Founded in 1926, this company provides life insurance, pension and annuity products for groups and individuals. [9]
[edit] Companion Life Insurance Company
Founded in 1949, this company provides life insurance and annuity products for groups and individuals in New York. [10]
[edit] United World Life Insurance Company
Through direct marketing and independent agent networks, this company has offered health and accident coverage and specialty life plans since 1983. [11]
[edit] Mutual of Omaha Investor Services, Inc.
Mutual funds are offered to individuals through the company’s agents and Retirement Plans brokers. [12]
[edit] Continuum Worldwide
Continuum Worldwide was started in 2006 and specializes in operational risk management consulting. Continuum’s services include enterprise security solutions, investigative and compliance solutions, business partner assurance, identity and access management, and IT infrastructure solutions.
[edit] Omaha Financial Holdings, Inc.
Omaha Financial Holdings, Inc. is a holding company for Mutual of Omaha’s banking operations. The subsidiary’s CEO is Jeff Schmid.[13] Since its formation, it has acquired the following banks: Nebraska State Bank in Omaha, Neb; Security Federal Bank of Lincoln, Neb.; and Colorado-based Peak National Bank.[14]
[edit] Company Governance
[edit] President of Mutual
| 1909–1932 | Harry S. Weller |
| 1932–1949 | Dr. C.C. Criss |
| 1949–19?? | V.J. Skutt |
| 2003–2005 | Dan Neary |
[edit] Chief executive officer of Mutual
| 1964–19?? | V.J. Skutt |
| 1984–1996 | Thomas Skutt |
| 1998–2005 | John Weekly |
| 2005–present | Dan Neary |
[edit] Chairman of the board of Mutual
| 1949–1953 | Dr. C.C. Criss |
| 1953–19?? | V.J. Skutt |
| 1986–1996 | Thomas Skutt |
| 1998–2005 | John Weekly |
| 2005–present | Dan Neary |
[edit] Miscellaneous
The only Chick-fil-A in the state of Nebraska is located in Mutual of Omaha's cafeteria[15].
[edit] See also
[edit] References
- ^ Mutual of Omaha Annual Report 2007 - Moving Toward a New Tomorrow
- ^ Mutual of Omaha Annual Report 2007 - Moving Toward a New Tomorrow
- ^ Mutual of Omaha Annual Report 2007 - Moving Toward a New Tomorrow
- ^ Mutual of Omaha Company History
- ^ Our Organization - Mutual of Omaha
- ^ Secure Destruction Business Magazine :: News :: Omaha Information Services Co. Becomes Continuum Worldwide
- ^ Schmid Named President, CEO of New Mutual of Omaha Subsidiary
- ^ Mutual of Omaha Company History
- ^ Affiliate Companies - Mutual of Omaha
- ^ Affiliate Companies - Mutual of Omaha
- ^ Affiliate Companies - Mutual of Omaha
- ^ Affiliate Companies - Mutual of Omaha
- ^ Schmid Named President, CEO of New Mutual of Omaha Subsidiary
- ^ http://www.kptm.com/news/local/8248057.html
- ^ Store Site
