Plunging 16 spots on this year’s Fortune 500 list, MassMutual had a tough 2017. The revenue the insurer collected from insurance plan premiums dropped 16% last year, as it struggled to sell retirement plans. Tax reform and an increase in realized investment losses put a dent in 2017 profits. But the company expects to earn a return when it completes the sale of its Asian subsidiary to a group of investors– including a firm backed by Alibaba chairman Jack Ma–in a deal that was announced last August.
Looking for leads, investment insights, or competitive intelligence?