Mutual of Omaha is a Fortune 500 mutual insurance company headquartered in Omaha, Nebraska, founded in 1909. The company offers a comprehensive portfolio of insurance and financial products including life insurance, Medicare supplement insurance, long-term care, critical illness, and supplemental health coverage for individuals, businesses, and employer groups throughout the United States.
As a mutual company owned by its policyholders, Mutual of Omaha reported $11.86 billion in total admitted assets and $4.15 billion in total surplus as of December 31, 2024. The company serves more than 5.6 million individual product customers, 18.1 million members, and 54,000 employer groups across all 50 states, with operating entities holding AM Best Financial Strength Ratings of A+ (Superior).
Mutual of Omaha offers a comprehensive portfolio of insurance and financial products designed to meet the needs of individuals, families, and employers across the United States. The company's individual product lines include whole life insurance, term life insurance, Medicare supplement insurance, long-term care insurance, and accidental death insurance. These products are distributed through a nationwide network of agents and brokers, as well as direct-to-consumer channels.
For employers, Mutual of Omaha provides group benefit solutions including dental insurance, disability income insurance, and retirement plans. The company also offers employee investment products through its Mutual of Omaha Retirement Services division. All products are backed by the company's mutual structure, which means policyholders are the owners and profits are reinvested to benefit customers rather than distributed to external shareholders.
Mutual of Omaha is pursuing a reorganization plan approved by its board in 2025 to convert to a stock insurer under a mutual insurance holding company structure, with a target completion date in 2026. The company emphasizes this is not a demutualization and has no plans to issue stock or bring in external shareholders, but rather seeks improved access to debt markets while preserving its mutuality and customer-focused culture.
The insurer continues to expand its digital modernization strategy through partnerships with Socotra and Penn River, moving additional business lines onto cloud-native core platforms. These technology investments aim to reduce complexity, accelerate product launch cycles, and adapt more quickly to evolving regulatory requirements and customer expectations in the life, health, and annuity markets.
Mutual of Omaha holds an A+ (Superior) financial strength rating from AM Best, reflecting more than a century of stable operations since its founding in 1909. The company serves over 5.6 million individual product customers and 18.1 million members across all 50 states, giving it one of the largest policyholder bases in the U.S. insurance market.
In 2025, Mutual of Omaha was ranked the top individual life insurance provider for customer satisfaction by J.D. Power, scoring 707 out of 1,000 and ranking first in six of eight measured categories. This recognition underscores the company's commitment to digital innovation, customer service excellence, and maintaining its mutual structure focused on policyholder interests rather than shareholder demands.
