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Global 500

Courtesy of Massachusetts Mutual Life Insurance

258

Massachusetts Mutual Life Insurance

U.S.

After growing its financial advisor network to 5,800 last year, MassMutual has continued expanding its workforce. In February, it bought rival MetLife’s network of 4,000 life insurance agents for $300 million. That expansion appears to be paying off. Sales jumped 14% last year, pushing MassMutual up 18 spots on the Fortune 500. Still, low interest rates and market volatility contributed to a slight decline in the insurance company’s assets under management and fee income from overseeing those funds. Overall, though, profits rose 7% for the Springfield, Mass.-based company, not a bad performance in a tough market for insurers.

CEO

Roger W. Crandall

Sector

Financials

Industry

Insurance: Life, Health (Mutual)

HQ Location

Springfield, MA

Employees

11,593

Years on Global 500 List

20

Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$38,24313.9%
Profits ($M)$1,4257.4%
Assets ($M)$266,550
Total Stockholder Equity ($M)$14,983
Profit Ratios
Profit as % of Revenues3.7%
Profits as % of Assets0.5%
Profits as % of Stockholder Equity9.5%