Company Profile
MassMutual Life Insurance Company
Company Overview
In the world of financial services, it’s all about working with an established, highly respected company based on demonstrated indications of quality and performance. Whom you choose to work with matters. Consider Massachusetts Mutual Life Insurance Company.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating olicyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual has been named one of the top 100 companies on the annual FORTUNE 500® list (#76 in 2016). Also in 2015, MassMutual is one of DiversityInc's Top 50 Companies for Diversity and Top 10 Companies for LGBT Employees. MassMutual scored 100 percent on The Human Rights Campaign's (HRC) Corporate Equality Index (CEI), earning us a place on the CEI Best Places to Work List (2015). A 2015 Working Mother Top 100 Best Company, MassMutual was inducted into the Working Mother Hall of Fame in 2015, After earning a place on the 100 Best Companies list for over 15 years. MassMutual is ranked among the top 10 companies on the National Association for Female Executives (NAFE) Top 50 Companies for Executive Women list (2015) and was named a 2016 Military Friendly Employer by Military Friendly, a division of Victory Media.
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; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube, Google+ and Pinterest.
Company History
MassMutual began operating in 1851 in Springfield, Massachusetts. George W. Rice (1823–1856), a young insurance agent who was selling policies for Connecticut Mutual Life in Hartford, Connecticut, had wanted to open a business in neighboring Massachusetts. Like Connecticut Mutual, the new agency was a mutual company—a company owned by its policyholders.
Rice's Massachusetts Mutual was one of about a dozen mutual companies that had sprung into existence between 1843 and 1851. Mutual companies became attractive vehicles in the nascent insurance industry because they required little working capital, but a Massachusetts state law required an initial stock subscription of $100,000 for insurance companies, so Rice encouraged 31 investors to purchase stock in the new venture. In 1867, MassMutual retired the stock and became a mutual company.