MutualOfOmaha.com Multi-line provider of insurance protection & financial service
Overview
Mutual of Omaha is an American insurance provider founded in 1909 and based in Omaha, Nebraska. Mutual of Omaha primarily focuses on health and insurance and disability insurance, and also sells life insurance through a subsidiary company known as United of Omaha. In addition to providing insurance services, Mutual of Omaha is greatly well known for sponsoring a wildlife show, Wild Kingdom.
History
Mutual of Omaha was founded in Nebraska in 1909 under the name Mutual Benefit and Accident Association. Harry S. Weller became Mutual of Omaha's first president upon its conception, and would go on to server until 1932. A year later, in 1910, the company took on Dr. C. C. Criss as its treasurer. Under his leadership, Mutual of Omaha began to offer simplified policies to minimize liability from accident or illness. Dr. Criss also saw that Mutual of Omaha extended its underwriting rules to provide disability coverage to the average person.
From there, Mutual of Omaha grew smoothly. In 1920, income for the year exceeded $1 million dollars (over 11 million modern day). In 1924, Mutual of Omaha managed to rank eighth overall among insurance companies in terms of premiums received, and ranked seventh in claims paid. This was quite the accomplishment for Mutual of Omaha, as the company was only relatively new at 15 years old, and much of their competition had been in operation in excess of a hundred years. The same year, Mutual of Omaha's premium income exceeded $2 million.
In 1926, Mutual of Omaha created their subsidiary life insurance company, United of Omaha (then known as United Benefit Life Insurance Company).
Dr. C. C. Criss, the man who had helped Mutual of Omaha became the monumental success that it was, would go through several positions at Mutual of Omaha before he would leave. In 1933, he took over Harry S. Weller's position as President of Mutual of Omaha. His old position as treasurer was assumed by his brother, Dr. N. L. Criss. Many years later, in 1949, Dr. C. C. Criss stepped down from his position as President to become chairman of the board. His old position was taken by V. J. Skutt. He would finally leave the company in 1953, when V. J. Skutt took over his position as Chairman of the Board while remaining the President.
V. J. Skutt would prove to be as revolutionary to the company as his predecessors. Under his leadership, Mutual of Omaha sold its one millionth policy and collected $76 million in premiums. In addition to being the Chairman of the Board and President, he would also be made Chairman and Chief Executive Officer in 1964.
Over the next few years, Mutual of Omaha would make several changes that would make it the company it is today. In 1962, the company officially changed its name from Mutual Benefit and Accident Association to Mutual of Omaha Insurance Company. The next year, in 1963, Mutual of Omaha began its sponsorship of Wild Kingdom, and the program had its first airing. Almost 20 years later, in 1981, Mutual of Omaha's subsidiary company, United Benefit Life Insurance Company, followed suit with the official name change and changed its name to United of Omaha.
Since then, Mutual of Omaha has experienced steady growth. In 2002, Wild Kingdom made its comeback to television when the Animal Planet network agreed to air the program again. Two years later, Mutual of Omaha picked up another opportunity for sponsorship. In 2004, they began sponsoring Drive, Chip, and Putt, a junior golf program. In 2005, Daniel P. Neary became the new Chairman and Chief Executive Officer of the company. Despite the company then being 95 years old, Neary was only the 5th chairman, showing the strength and dedication of the company's leadership.
Modern Day
Mutual of Omaha has since expanded beyond offering simply insurance policies to offer a wide range of operational risk management services and consulting. The company finished 2006 with total GAAP revenues exceeding $4 billion. Mutual of Omaha currently employs over 6,000 people nationwide, with consolidated assets of over $19 billion.
Languages
English
Address
- Mutual of Omaha Plaza
- Omaha NE 68175 US
Contact
- Mutual of Omaha Insurance Co.
-
- +1 800 805 8596, Fax: +1 571 434 4620
Additional Information
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External Links
- Alexa: MutualOfOmaha.com
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