MassMutual Reports Strong 2024 Financial Results 
 
 
SPRINGFIELD, Mass.--(BUSINESS WIRE)--March 04, 2025-- 
 
   MassMutual today reported strong financial results(1) for 2024, 
maintaining its position as a leading provider of protection, 
accumulation, and lifetime income solutions, significantly growing its 
wealth management business, and making meaningful progress on its 
long-term strategy. 
 
 
   Financial performance highlights for the year ended December 31, 2024 
include: 
 
   -- Growth in sales, client assets: Sales from MassMutual's domestic 
      insurance operations grew to more than $41 billion as the company 
      maintained its position as a top provider of whole life insurance, as 
      well as sustained its growing market leadership in annuities. In addition, 
      increased demand for personalized planning helped the company's wealth 
      management business reach an annual record of $274 billion in client 
      assets. 
 
   -- Solid operating earnings: Strong contributions from the company's broad 
      portfolio of products and businesses -- coupled with sound operating 
      fundamentals and favorable economic conditions -- generated $2.8 billion 
      of statutory operating earnings. 
 
   -- Enduring financial strength and stability: Total adjusted capital ended 
      the year at $33.2 billion and the company maintained ratings that are 
      among the highest in any industry.2 
 
   -- Ongoing commitment to policyowners and customers: Importantly, MassMutual 
      reached historic milestones in delivering on its long-term obligations to 
      those who rely on the company, as life insurance protection in force 
      surpassed $1 trillion and MassMutual paid $9.4 billion in insurance and 
      annuity benefits, an all-time high. 
 
   -- Record dividend payout: MassMutual approved an estimated dividend payout 
      to eligible participating policyowners of more than $2.5 billion for 2025 
      -- the highest in company history, marking the 19th year in a row that 
      MassMutual has paid an industry-leading dividend interest rate.3 
 
 
   "In a year with robust economic fundamentals and strong equity market 
performance, contrasted with rising costs of living and monetary and 
fiscal policy uncertainty, MassMutual enhanced its position as a market 
leader and made meaningful progress on our long-term strategy," said 
Roger Crandall, Chairman, President and CEO, MassMutual. "Thanks to the 
incredible work of our talented employees and passionate, dedicated 
network of financial professionals, we navigated another year of 
remarkable change in our world, providing our policyowners with greater 
confidence, financial stability, and peace of mind." 
 
 
   Strategic Progress Highlights 
 
 
   In 2024, MassMutual continued to make significant progress on its 
long-term strategy and invest in its future growth. Key highlights 
included: 
 
   -- Meeting people where they are with the solutions they need. MassMutual 
      continued to invest in the growth and success of its financial 
      professionals, providing them with robust digital capabilities to better 
      serve their clients and enhancing its portfolio of protection and wealth 
      management solutions. What's more, the company made strides to make its 
      solutions more accessible, expanding and deepening its relationships with 
      other financial institutions and independent advisors, and extending its 
      efforts to reach more people with protection products at the worksite. 
 
   -- Providing a simplified, exceptional experience. MassMutual continued its 
      efforts to provide its policyowners and customers with a seamless 
      experience, expanding its self-service options so they can manage their 
      coverage and holdings anytime, anywhere and on any device. And, to help 
      policyowners make more informed decisions about their health and 
      well-being, MassMutual provided eligible policyowners insights into their 
      physical and mental health through its Wellness program so they can take 
      steps toward a happier, healthier, and longer life. 
 
   -- Delivering sustained value from a portfolio of strategic businesses and 
      investments. As one of the company's distinct competitive advantages, 
      this portfolio has delivered earnings across a broad range of conditions, 
      ultimately benefiting MassMutual's policyowners. The company received 
      strong contributions in 2024 from Barings, the company's institutional 
      asset manager, Rothesay, the largest specialist pension insurer in the 
      U.K., and Martello Re, a reinsurance company backed by MassMutual and 
      other investors. 
 
   -- Supporting its employees and communities. MassMutual continued to meet 
      employees' changing needs in ways that are meaningful to them, making 
      continuous investments in benefits and leave programs that support their 
      well-being. The company also made ongoing investments in its communities 
      -- both nationally, to expand economic opportunities in low-income 
      communities in partnership with Opportunity Finance Network, as well as 
      locally in Massachusetts, to help families build generational wealth and 
      expand access to quality health care. 
 
 
   "As we face continued uncertainty in the year ahead, MassMutual is in an 
excellent position to navigate it and deliver exceptional value to our 
policyowners and customers with our enhanced and expanded distribution, 
broad and diverse portfolio of holistic solutions, outstanding capital 
position, and long-term, diversified investment approach," added 
Crandall. "In 2025, we look forward to putting all of these strengths to 
work to help millions more secure their future and protect the ones they 
love." 
 
 
   MassMutual also continues to earn accolades for its leading reputation 
and culture. The company reached No. 102 on the FORTUNE$(R)$ 500 in 2024 
and was named a FORTUNE Most Admired company for the 24th time in 
2025.(4) Additionally, the Boston Globe named MassMutual a Top Place to 
Work in Massachusetts for the sixth straight year. 
 
 
(1) These are consolidated statutory results of Massachusetts Mutual Life 
Insurance Company and its U.S.-domiciled life insurance subsidiaries: C.M. 
Life Insurance Company, MML Bay State Life Insurance Company and MassMutual 
Ascend Life Insurance Company. 
 
(2) Financial strength ratings for MassMutual and its subsidiaries, C.M. Life 
Insurance Company and MML Bay State Life Insurance Company, are as follows: 
A.M. Best Company, A++ (Superior); Fitch Ratings, AA+ (Very Strong); Moody's 
Investors Service, Aa3 (High Quality); and S&P Global Ratings, AA+ (Very 
Strong). Ratings are current as of March 1, 2025 and are subject to change. 
 
(3) The dividend and dividend interest rate are determined annually, subject 
to change and are not guaranteed. 
 
(4) From FORTUNE(c) . FORTUNE Media IP Limited. All rights reserved. FORTUNE 
500 (June 2024) and FORTUNE World's Most Admired Company (February 2025) are 
registered trademarks of FORTUNE Media IP Limited and is used under license. 
FORTUNE is not affiliated with and does not endorse products or services of 
MassMutual. 
 
 
   About MassMutual (Massachusetts Mutual Life Insurance Company) 
 
 
   MassMutual is a leading mutual life insurance company that is run for 
the benefit of its members and participating policyowners. Founded in 
1851, the company has been continually guided by one consistent purpose: 
we help people secure their future and protect the ones they love. With 
a focus on delivering long-term value, MassMutual offers a wide range of 
protection, accumulation, wealth management and retirement products and 
services. For more information, visit www.massmutual.com. 
 
 
 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250304115194/en/

 
 
    CONTACT: 
   Chelsea Haraty, chelseaharaty@massmutual.com, (413) 426-2008 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 04, 2025 11:01 ET (16:01 GMT)