Massachusetts Mutual Life Insurance, known as MassMutual, brings a multitude of financial services to its 5 million-strong membership base. A leading US mutual life insurer, the firm provides life policies, annuities, money management, and retirement planning to individuals and businesses in the US and abroad. Founded in 1851, MassMutual also offers disability income insurance, long-term care insurance, structured settlement annuities, and trust services. Its subsidiaries include OppenheimerFunds (mutual funds), Barings Asset Management (international investment), and MML Investors Services.


MassMutual's operations are divided into four segments: US insurance, international insurance, retirement services, and asset management. Insurance premiums account for more than 70% of MassMutual's annual revenues. The firm has more than $560 billion life insurance in force.

MassMutual also has $675 million in assets under management (based on fiscal 2016 figures). The company's OppenheimerFunds unit is a top mutual fund manager, with some $217 billion in assets under management, and manages 95 funds in more than 80 countries.

Geographic Reach

In addition to MassMutual's operations in the US, where it is licensed in all states, the District of Columbia, and Puerto Rico, the MassMutual International division has established subsidiaries or ventures in Chile, China, Hong Kong, and Japan, through which it focuses on new product development and broadened distribution in Asia, Europe, and Latin America. The majority of international sales come from products or channels developed within the last few years.

Sales and Marketing

MassMutual distributes its products through a network of some 9,500 affiliated sales representatives and financial advisors across the US, as well as from select international locations. It also sells its products through third-party distributors. The company conducts advertising campaigns through television, video, print, digital, online, and social media outlets. Customers include individuals, families, businesses, unions, not-for-profit organizations, government agencies, and employer associations.

In mid-2017 the company revamped its brand and rolled out a new logo and website. The rebranding emphasized Mass Mutual's focus on (along with family, business, and community ties) helping people realize their financial goals.

Financial Performance

MassMutual's strategy of positioning its insurance operations and asset management businesses to provide diversified sources of growth and earnings continues to serve it well. In 2015 MassMutual achieved more than $15 billion in surplus (the highest level in its history), following the 2014 surplus of $14.2 billion. That figure rose to $15.4 billion in 2016.

Revenue grew less than 1% to $29.6 billion in 2016 as sales of whole life, retirement, and annuity plans increased and fee revenue rose. This marked the firm's eleventh straight year of record sales of whole life policies (which rose 35%) and the fourth consecutive year of record retirement plan sales (which rose 15%). Premium and investment income both saw modest declines, though.

Due largely to the $165 million purchase of MetLife Premier Client Group, net income fell 87% to $70 million in 2016.


Like so many other insurance firms, MassMutual (sometimes known as MassMutual Financial Group) hopped on the financial services bandwagon to expand its product range. However, its management and policyholders have repeatedly reaffirmed their intention to keep MassMutual a mutual company despite the efforts of some policyholders. Also, the company doesn't seem too eager to throw out either the insurance baby or the bathwater -- it has also reaffirmed its commitment to good old whole life insurance products and retirement income products.

To attract new customer groups, as well as to broaden product sales to existing customers, MassMutual has expanded its line of insurance and retirement products in recent years. For instance, in 2015 it launched a Spanish version of its website to attract more customers. The following year, it launched online life insurance portal ValoraLife.com (targeting Latino customers) and expanded its online life insurance offering to all 50 US states. It also launched two new universal life insurance policies targeting executives, as well as providing additional digital content to support millennials in their financial planning efforts.

In 2016 MassMutual merged four of its asset management units into a single global firm managing some $275 billion. It merged Babson Capital Management (investor services) plus its Cornerstone Real Estate Advisors (real estate investment management) subsidiary, Wood Creek Capital Management, and Barings Asset Management, with Barings being the surviving brand.

In mid-2017, AIG and MassMutual acquired some $1.6 billion in pension obligations from consulting firm Accenture. The move was part of an industry trend to invest in corporate pension plans: Pension transfers in 2016 totaled $13.7 billion, the second-highest figure ever.

Mergers and Acquisitions

In 2015, MassMutual acquired Viability Advisory Group for an undisclosed amount. Viability's suite of tools help retirement plans and employers gauge retirement readiness of employees; the tools are offered through financial advisors.

In mid-2016 the company bought MetLife's US retail advisor force MetLife Premier Client Group, which employed some 4,000 advisors across the US, for $165 million. It also acquired MetLife's broker dealer MetLife Securities. The deal expanded MassMutual's existing agency force to some 9,500 (an increase of more than 60%), as well as broadening its geographic reach.

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1295 State St
Springfield, MA 01111-0001
Phone: 1 (413) 788-8411
Fax: 1 (413) 744-6005


  • Employer Type: Private Mutual Company
  • Chairman, President, and CEO: Roger W. Crandall
  • Chief Technology and Administrative Officer: Mark D. Roellig
  • CFO and Chief Actuary: Elizabeth A. Ward
  • Employees: 27,091

Major Office Locations

  • Springfield, MA

Other Locations

  • Beverly Hills, CA
  • El Segundo, CA
  • La Jolla, CA
  • Los Alamitos, CA
  • Los Angeles, CA
  • Napa, CA
  • Newport Beach, CA
  • Oakland, CA
  • Riverside, CA
  • San Jose, CA
  • Sanger, CA
  • Aurora, CO
  • Denver, CO
  • Englewood, CO
  • Fort Collins, CO
  • Enfield, CT
  • Fairfield, CT
  • Glastonbury, CT
  • Hartford, CT
  • New Haven, CT
  • Washington, DC
  • Bonita Springs, FL
  • Bradenton, FL
  • Coral Gables, FL
  • North Palm Beach, FL
  • Palm Beach Gardens, FL
  • Sarasota, FL
  • Tampa, FL
  • Alpharetta, GA
  • Atlanta, GA
  • Macon, GA
  • Washington, GA
  • Lihue, HI
  • Sioux City, IA
  • West Des Moines, IA
  • Boise, ID
  • Carbondale, IL
  • Chicago, IL
  • Decatur, IL
  • Loves Park, IL
  • Peoria, IL
  • Pontiac, IL
  • Fort Wayne, IN
  • Indianapolis, IN
  • Wichita, KS
  • Lexington, KY
  • Leesville, LA
  • Boston, MA
  • Chicopee, MA
  • Fall River, MA
  • Westborough, MA
  • Baltimore, MD
  • Jarrettsville, MD
  • Battle Creek, MI
  • Cadillac, MI
  • Farmington Hills, MI
  • Jackson, MI
  • Norton Shores, MI
  • Port Huron, MI
  • Southfield, MI
  • Archdale, NC
  • Charlotte, NC
  • Greensboro, NC
  • Jacksonville, NC
  • New Bern, NC
  • Omaha, NE
  • Pender, NE
  • Nashua, NH
  • Cranbury, NJ
  • Little Falls, NJ
  • Somerset, NJ
  • Las Vegas, NV
  • Reno, NV
  • Albany, NY
  • Brooklyn, NY
  • Kingston, NY
  • Melville, NY
  • New York, NY
  • Rexford, NY
  • Rochester, NY
  • Syosset, NY
  • Watertown, NY
  • Cincinnati, OH
  • Cleveland, OH
  • Garrettsville, OH
  • Springfield, OH
  • Oklahoma City, OK
  • Tulsa, OK
  • Bend, OR
  • Lake Oswego, OR
  • Springfield, OR
  • Bala Cynwyd, PA
  • Delmont, PA
  • Leola, PA
  • Pittsburgh, PA
  • York, PA
  • Warwick, RI
  • Chapin, SC
  • Greenville, SC
  • Greer, SC
  • Hartsville, SC
  • Seneca, SC
  • Cordova, TN
  • Addison, TX
  • Amarillo, TX
  • Austin, TX
  • Dallas, TX
  • El Paso, TX
  • Fort Worth, TX
  • San Antonio, TX
  • Tyler, TX
  • Fairfax, VA
  • Madison, VA
  • Newport News, VA
  • Richmond, VA
  • Vienna, VA
  • Virginia Beach, VA
  • Williamsburg, VA
  • Barre, VT
  • Madison, WI
  • Sheboygan, WI
  • Wausau, WI
  • Fairmont, WV
  • Wheeling, WV
  • Fukuoka, Japan
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