|PR Newswire Association LLC|
For the year ended 2013, sales2 of whole life insurance were
"Throughout MassMutual's 162-year history, one thing has remained constant, and that is our purpose: to help people secure their future and protect the ones they love," said
"At a time when economic growth is slow and consumers need to take more responsibility for their financial future, our results and achievements highlight the benefits of doing business with a financially strong company focused on delivering long-term value to its policyowners and customers,"
- Sales results within the company's key product lines:
- Whole life insurance sales increased 14 percent.
- Retirement plan sales increased 60 percent.
- Annuity sales increased 57 percent.
- Disability income insurance sales increased 10 percent.
- Investment management sales increased 44 percent.
- Surplus totaled
$12.5 billionas of Dec. 31, 2013, compared to $12.7 billionthe prior year.
- Total adjusted capital was
$14.5 billionas of Dec. 31, 2013, compared to $14.4 billionthe prior year.
- Revenue was
$27.6 billioncompared to $26.7 billionthe prior year.
- Net gain from operations before policyowner dividends and taxes – the company's primary earnings measure as a mutual company – was
$1.8 billioncompared to $2.1 billionthe year before. The earnings reduction year over year and the statutory net loss reflect the impact of the acquisition of The Hartford Retirement Plans business. Excluding the purchase price impact of the acquisition, earnings would have been more than $350 millionhigher.
- An estimated dividend payout4 for 2014 of
$1.49 billionto eligible participating policyowners, which reflects a dividend interest rate of 7.10 percent on eligible participating life insurance policies5.
- Assets under management were
$639 billionas of Dec. 31, 2013, an increase of 26 percent from $508 billionat the end of 2012.
- Worldwide insurance in force was
$547 billionat the end of 2013, up 5 percent from $521 billionat the end of 2012.
- Premium and other deposits were
$38.8 billionfor 2013, a 9 percent increase from $35.5 billionin 2012.