Annuities Will Still be Sold by MassMutual

Despite closing the MassMutual Retirement Income (MMRI) unit, MassMutual will continue to sell annuities and other retirement products.  Bill Kenealy, of Insurance Networking News, discusses this development in "MassMutual Axes Retirement Unit."  The MMRI was created in April of 2007 to focus on solutions for advisers looking to meet the guaranteed lifetime income needs of their customers.  This unit had been created as a separate entity to MassMutual's U.S. Insurance Group to closely... Read More

Annuities are Part of the Business for Mass Mutual's New CEO

Massachusetts Mutual Life Insurance Company has a new President and CEO, according to Insurance News Net's article "Mass Mutual's Incoming CEO Will Draw on Experience to Lead Through Crisis."  Roger W. Crandall has been with the company in many different capacities since 1988, so he has seen his fair share of economic and financial turmoil.  Mass Mutual, founded in 1851, was the 13th largest U.S. life insurer in 2008 according to A.M. Best Company.  Unfortunately they had a net loss of $1... Read More

Great Annuity Customer Service

MassMutual tied for The Best in Class Call Center award (for under 200 staff) from the International Quality and Productivity Center(IQPC) for the second year in a row.  According to a press release from PRNewswire, MassMutual's Retirement Services Division's Call Center and Debbie Cote, who is in charge of the center, received top awards for their excellent customer service.  The IQPC established the Call Center Excellence Awards to honor the industry's best.Whole life insurance is the... Read More

TheStreet’s Annuity Ratings: Strongest Insurers

When buying an annuity, it's very important that the insurer providing the product is stable. Doing so minimizes the risk that you will lose part or all of your investment. Ratings are a good way to find out about a company's strength. Here are's 10 strongest annuity insurers, as reported by Melissa Gannon:Teachers Insurance and Annuity Assocation of America (TIAA-Cref) State Farm Life Insurance Company Country Life Insurance Company State Farm Life and Accident... Read More

MassMutual’s Tremont Unit Suffers in Madoff Scam

According to the Hartford Business Journal, the Massachusetts Mutual Life Insurance Company (MassMutual) is one of the firms most hurt by the Bernie Madoff investment scam. Its Tremont Group Holdings subsidiary invested about $3.3 billion with Madoff, which is most likely lost. Ruthie Ackerman at Forbes says that the Rye Investment Management division of Tremont invested virtually all of its clients' money into Madoff's Ponzi scheme. Rye was responsible for half of Tremont's investments.... Read More - Prefooter


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