| Company type | Nonprofit organization |
|---|---|
| Industry | Insurance and Financial services |
| Founded | 1879 |
| Headquarters | Henderson Hall, Arlington, Virginia, United States |
Key people | Brian E. Luther (President, and CEO)[1] |
| Products | Life insurance, Annuities, Education |
| Revenue | $250 million (2019)[2] |
| Total assets | $3 billion (2019)[2] |
Navy Mutual, originally established as Navy Mutual Aid Association (NMAA), is a nonprofit, federally tax-exempt,[3] mutual-benefit Veterans Service Organization (VSO)[4] It was established in 1879 by naval officers[5][6] for the purpose of providing life insurance and annuities to members of the sea services (United States Navy, United States Marine Corps, United States Coast Guard, U.S. Public Health Service, and the National Oceanic and Atmospheric Administration), and their families.[2][7] Membership for the past decade has averaged 105,000 members. In 2016, Navy Mutual had over 141,000 military members (active, reserve, and retired) and families insured under various plans; by 2019, the number of insurance plans increased to over 145,000 with a member retention rate of 98.4%. For seventeen consecutive years through 2020, Navy Mutual has earned a Fitch Insurer Financial Strength (IFS) rating of A+, with a Stable Rating Outlook.[8]
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