NML Variable Annuity Account B

10/28/2024 | Press release | Distributed by Public on 10/28/2024 13:06

Prospectus by Investment Company - Form 497

NML Variable Annuity Account B
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
SUPPLEMENT TO THE PROSPECTUSES DATED MAY 1, 2024
NML VARIABLE ANNUITY ACCOUNT A
SUPPLEMENT TO THE PROSPECTUSES
FLEXIBLE PAYMENT VARIABLE ANNUITY
INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY (FEE-BASED)
NML VARIABLE ANNUITY ACCOUNT B
SUPPLEMENT TO THE PROSPECTUSES
FLEXIBLE PAYMENT VARIABLE ANNUITY
FLEXIBLE PAYMENT VARIABLE ANNUITY (FEE-BASED)
NML VARIABLE ANNUITY ACCOUNT C
SUPPLEMENT TO THE PROSPECTUSES
GROUP COMBINATION ANNUITY
INDIVIDUAL FLEXIBLE PAYMENT VARIABLE ANNUITY (NETWORK EDITION)
This Supplement updates certain information in the most recent prospectuses, initial summary prospectuses and updating summary prospectuses, as applicable, for the above-referenced variable annuity contracts and any supplements to the prospectuses, initial summary prospectuses and updating summary prospectuses (together the "Prospectuses"). You should read this Supplement in conjunction with your Prospectuses. Unless otherwise indicated, all other information included in the Prospectuses remains unchanged and the terms and section headings used in this Supplement have the same meaning as in the Prospectuses. We will send you another copy of any prospectus or supplements without charge upon request. Please retain this Supplement for future reference.
Sub-Adviser Change for Mid Cap Growth Stock Portfolio
Effective October 28, 2024, J.P. Morgan Investment Management, Inc. has replaced Wellington Management Company LLP as the sub-adviser for the Mid Cap Growth Stock Portfolio. Please note that with respect to this change, some systems and forms may temporarily reference the previous sub-adviser for this Portfolio.
In light of these changes, in APPENDIX A-Portfolios Available under Your Contract, the following rows in the table are amended to contain the following information.
Investment Objective
Portfolio
Adviser/
Sub-adviser (if applicable)
Current Expenses
Average Annual
Total Returns
(as of 12/31/2023)
1 Year
5 Year
10 Year
Long-term growth of
capital
Mid Cap Growth Stock
Portfolio2
MSA/J.P. Morgan Investment
Management, Inc.
0.54%1
14.96%
10.00%
7.05%
This Supplement is dated October 28, 2024.