July 14, 2014 2:34 AM ET


Company Overview of Mutual of Omaha Insurance Company

Company Overview

Mutual of Omaha Insurance Company operates as a mutual insurance company in the United States. Its principal products include individual health and accident insurance, individual and group life insurance and annuities, retirement plans, and banking services. The company’s individual products comprise Medicare supplement, long-term care, disability, and critical illness insurance products; structured settlements; small business solutions consisting of business, family, and employee protection products; and investment products, such as mutual funds, savings plans, and other investment products, as well as group benefits and retirement solutions include disability, critical illness, dental, and...

Mutual of Omaha Plaza

10 Retirement Plans

Omaha, NE 68175

United States

Founded in 1909





Key Executives for Mutual of Omaha Insurance Company

Chairman of The Board
Age: 62
Chief Financial Officer
Age: 58
Chief Operating Officer
Chief Executive Officer of Omaha Financial Holdings Inc and President of Omaha Financial Holdings Inc
Executive Vice President of Individual Financial Services and President of United World Life Insurance Company
Compensation as of Fiscal Year 2014.

Mutual of Omaha Insurance Company Key Developments

Mutual of Omaha Insurance Company Announces Offer to Purchase Up to $300,000,000 Principal Amount of Outstanding Surplus Notes

Mutual of Omaha Insurance Company announced that it has commenced tender offers to purchase for cash its outstanding 6.80% Surplus Notes due 2036 (the First Priority Notes) and its outstanding 6.95% Surplus Notes due 2040 (the Second Priority Notes and, together with the First Priority Notes, the Notes, and each a series of Notes) in an aggregate principal amount of up to $300 million (the Tender Cap). The terms and conditions of the Tender Offers are described in the offer to purchase dated June 27, 2014 and the related letter of transmittal. The Tender Offers are also subject to the satisfaction or waiver of certain conditions specified in the Offer to Purchase, including the minimum tender, financing and regulatory approval conditions. Mutual of Omaha reserves the right to extend, terminate, withdraw or amend the Tender Offers at any time subject to applicable law. The Tender Offers will expire at 11:59 p.m., New York City time, on July 25, 2014, unless extended or earlier terminated by Mutual of Omaha (such date and time with respect to a Tender Offer, as the same may be extended or earlier terminated, the Expiration Time). Holders of the Notes must validly tender and not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on July 11, 2014, unless extended by Mutual of Omaha (such date and time with respect to a Tender Offer, as the same may be extended, the Early Tender Time) in order to be eligible to receive the Full Tender Offer Consideration, which includes the Early Tender Payment. Notes validly tendered may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on July 11, 2014, unless extended by Mutual of Omaha, but not thereafter.

Mutual of Omaha Insurance Company Announces Consolidated Earning Results for the Full Year of 2013

Mutual of Omaha announced consolidated earning results for the full year of 2013. For the period, the company 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. 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. 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. The banking operations contributed $61.2 million to 2013 operating income, up from $45.5 million in 2012.

Mutual of Omaha Launches Group Critical Illness Insurance

Mutual of Omaha has announced a new Critical Illness product that allows employers to enhance their benefits coverage, while providing employees and their loved ones with added protection if a critical illness occurs. Critical Illness insurance provides individuals with a lump-sum cash benefit (for the individual or their covered dependents) upon the diagnosis of a critical illness in one of the following categories: heart/circulatory, major organ, childhood/developmental, or cancer. Mutual of Omaha's product: Complements a high-deductible health plan; Provides income protection during FMLA situations that may not be covered by traditional disability plans; Covers most common critical illnesses; Pays a lump-sum cash benefit upon diagnosis; Provides optional features such as additional occurrence, reoccurrence and coverage for childhood critical illnesses conditions. Mutual of Omaha's Critical Illness product is available with voluntary, non-contributory and contributory options. It can be packaged with other ancillary products on one convenient bill. In addition, it is easily underwritten for both employer and employee customers and supported by dedicated enrollment professionals, implementation and service teams.

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