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About Massachusetts Mutual Life Insurance Company

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. 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 was founded in 1851.


MassMutual operates in four primary areas: US insurance, international insurance, retirement services, and asset management. Insurance premiums account for more than 70% of MassMutual's annual revenues. The firm has some $900 billion of global insurance in force.

MassMutual also has $771 billion in assets under management (based on fiscal 2017 figures). The company's OppenheimerFunds unit is a top mutual fund manager, with some 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. 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 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 2017 MassMutual achieved more than $15.7 billion in surplus (the highest level in its history), following the 2016 surplus of $15.4 billion. 

However, premium and fee income declined in 2017, which led total revenue to fall 12% to $26.1 billion. Net income nearly doubled that year to $137 million, primarily as a result of higher net investment income and strong underwriting activities. Net gains from operations before policy owner dividends and taxes increased 18% that year.



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 certain policyholders have repeatedly reaffirmed their intention to keep MassMutual a mutual company despite the efforts of other 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 2016 it launched online life insurance portal (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.

A current focus is offering life insurance to more customers who may not have access to coverage from large employers. It is using digitization to underwrite policies quickly (just one day for younger customers who are in good health) and to lower costs.

MassMutual is also shifting its international presence. In 2017 it agreed to sell its Hong Kong-based unit MassMutual Asia to Yunfeng Financial Group. The following year it sold a majority stake of MassMutual Japan (which is being renamed Nippon Wealth Life Insurance) to Nippon Life.

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), Cornerstone Real Estate Advisors (real estate investment management), 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 mid-2016 MassMutual 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.

Massachusetts Mutual Life Insurance Company

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

Firm Stats

Employer Type: Privately Owned
Chairman, President, and CEO: Roger W. Crandall
Chief Technology and Administrative Officer: Mark D. Roellig
CFO and Chief Actuary: Elizabeth A. Ward
Employees (This Location): 3,500
Employees (All Locations): 27,091

Major Office Locations

Springfield, MA

Other Locations

Beverly Hills, CA
El Segundo, CA
La Jolla, CA
Los Alamitos, CA
Napa, CA
Newport Beach, CA
Oakland, CA
Riverside, CA
San Diego, CA
San Francisco, CA
Sanger, CA
San Jose, CA
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
Fort Lauderdale, FL
North Palm Beach, FL
Sarasota, FL
Tampa, FL
Atlanta, GA
Macon, GA
Washington, GA
Lihue, HI
Sioux City, IA
West Des Moines, IA
Boise, ID
Carbondale, IL
Chicago, IL
Peoria, IL
Pontiac, IL
Fort Wayne, IN
Indianapolis, IN
Overland Park, KS
Wichita, KS
Lexington, KY
Leesville, LA
Boston, MA
Chicopee, MA
Fall River, MA
Springfield, MA
Westborough, MA
Baltimore, MD
Hunt Valley, MD
Jarrettsville, MD
Battle Creek, MI
Cadillac, MI
Farmington Hills, MI
Grand Rapids, MI
Jackson, MI
Norton Shores, MI
Port Huron, MI
Southfield, MI
Archdale, NC
Charlotte, NC
Greensboro, NC
Jacksonville, NC
New Bern, NC
Wilmington, NC
Omaha, NE
Pender, NE
Nashua, NH
Cranbury, NJ
Little Falls, NJ
Somerset, NJ
Las Vegas, NV
Reno, NV
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
Bend, OR
Lake Oswego, OR
Springfield, OR
Bala Cynwyd, PA
Delmont, PA
Leola, PA
Pittsburgh, PA
York, PA
Warwick, RI
Chapin, SC
Greenville, SC
Hartsville, SC
Seneca, SC
Cordova, TN
Amarillo, TX
Austin, TX
Dallas, TX
El Paso, TX
Fort Worth, TX
Plano, 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
London, England
Hamburg, Germany