Mass Mutual LifeInsurance Company (MassMutual) is one of the industry leaders in life insurance and life insurance products. It was founded in 1851 in Springfield, Massachusetts, and is also known as. The company is a mutual life insurance company where any profits are paid as dividends to their policyholders not to shareholders. Since 1860, this company has paid dividends every year to their participating policyholders.
Mass Mutual Company has changed slowly over a long period of time. By doing so has subjected a complete metamorphosis: from personal insurer to financial giant with $234 billion in assets. It serves over ten million clients and provides them with mutual funds, money management, trust services, retirement planning products, life insurance, annuities, disability income insurance, and long-term care insurance.
Scale is one element of MassMutual’s efficient operations. Since 2003, total assets under management (AUM) experiencing double-digit growth annually and reaching $505 billion as of year-end 2007. As of 2008 MassMutual has 4,300 employees in Springfield and 1,900 in Enfield, CT.
Recently, the MassMutual Financial Group started its multimedia "Good Decisions" market campaign that was designed to confirm clients and consumers during times of economic and financial turbulence.
Its strategy for the future was centered on innovation and new product development, global expansion, and customer satisfaction.
Principal Subsidiaries: C.M. Life Insurance Company; Cornerstone Real Estate Advisors Inc.; MassMutual International Inc.; David L. Babson & Company Inc.; Antares Capital Corp.; MML Bay State Life Insurance Co; OppenheimerFunds Inc.; MML Investors Services Inc.; The MassMutual Trust Company, FSB.
Principal Competitors: Northwestern Mutual; New York Life Insurance Company; Prudential Financial Inc.
Also its mutual ownership structure is a source of pride and its advantages such as: there are no conflicts of interest between policyholders and shareholders; the receiving of dividend payments by policyholders; and immunity from the merger trend and "hostile takeover" bids that could disrupt or diminish service.
