MassMutual

From WikiMD's medical encyclopedia

MassMutual (officially known as Massachusetts Mutual Life Insurance Company) is a mutual life insurance company based in Springfield, Massachusetts. Founded in 1851, it is one of the oldest and most respected insurance companies in the United States.

History

MassMutual was founded in 1851 by George W. Rice, who served as the company's first president. The company was established as a mutual company, meaning it is owned by its policyholders. This structure allows MassMutual to focus on long-term strategies and make decisions that benefit its policyholders.

Products and Services

MassMutual offers a wide range of financial services, including life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's subsidiaries, such as Barings LLC, offer investment management services.

Financial Performance

As of 2020, MassMutual has more than $675 billion in total assets under management and is ranked 84th in the Fortune 500 list of the largest United States corporations by total revenue.

Corporate Responsibility

MassMutual is committed to corporate responsibility and has initiatives in place to support education, economic development, and quality of life in the communities where it operates. The company's charitable arm, the MassMutual Foundation, provides funding to non-profit organizations across the U.S.

See Also


Major insurance and reinsurance companies
Insurance
Americas
EMEA
APAC
Reinsurance
Methodology: SWFI ranking by Total Assets
List of largest insurance companies


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  • MassMutual logo

  • Caleb Rice

  • Martin Van Buren Edgerly

  • Massachusetts Mutual Life Insurance Company, Springfield, Mass

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Contributors: Prab R. Tumpati, MD