Massachusetts Mutual Life Insurance Company
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| Mutual company | |
| Industry | Financial Services |
| Founded | Springfield, Massachusetts, USA (1851) |
| Founder | George W. Rice |
| Headquarters | Springfield, Massachusetts, USA |
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Key people
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Roger W. Crandall, President and CEO |
| Revenue | US$ 25 billion (2010) |
| Website | www |
Founded in 1851, Massachusetts Mutual Life Insurance Company (MassMutual) is an American mutual life insurance company with 1,800 offices and 13 million clients worldwide. MassMutual is one of the largest life insurance companies globally and was ranked 76th in the Fortune 500 list (as of 2017). The company has revenues of $25 billion (2010) and assets under management of $448 billion (2010).
Although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides financial products such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; Skylight Financial Group; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
It recently acquired a stake in Sony Music.
Massachusetts Mutual Life Insurance Company (MassMutual) began operation on May 15, 1851 in Springfield, Massachusetts, by George W. Rice, who subscribed for a guarantee capital of $100,000. As an insurance agent who sold policies for Connecticut Mutual Life Insurance Company in Hartford, Connecticut, Rice wanted to open a company of his own in neighboring Massachusetts. Similar to Connecticut Mutual, this new enterprise grew into a mutual company.
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