In these times of division and uncertainty, people value moments of mutuality more than ever. Because when we Live Mutual, we rely on each other, find strength in each other, and ultimately, build a better future together.

Helping Our Customers Live Mutual

In that spirit, we’re proud of the progress we made in 2017 with helping more people plan for life’s most important moments.

As always, our biggest priority is helping a greater number of people. Last year, we once again posted record sales of life insurance, outpacing the industry and increasing the amount of coverage we provide to nearly $670 billion. We served more than half a million new customers in our Workplace and Institutional businesses, helping to grow their retirement savings, deliver their pension payments, and provide protection for their families. We earned their trust and confidence by strengthening our excellent financial foundation, as we ended 2017 with $17.4 billion in total adjusted capital, the most in our history, and maintained among the highest ratings of any company in any industry.¹

It’s that long-standing financial strength which also enabled us to announce our 150th consecutive dividend payout in 2018 to all eligible participating policyowners.² This historic estimated $1.6 billion payout is backed by our strong fundamentals and longtime competitive advantage of our diverse portfolio of domestic and international insurance, Workplace and Institutional businesses, as well as our global asset management firms, OppenheimerFunds Inc. and Barings. Together, our combined businesses managed more than $770 billion in assets last year, a new record.

To maintain that foundation so many depend on, we continued to evolve so we can capitalize on new opportunities and create even more value for our policyowners. For instance, last year we announced our plan to sell our Hong Kong–based subsidiary, MassMutual Asia, to Yunfeng Financial Group and several Asia-based investors. Once closed, this transaction will provide an outstanding immediate return, long-term value through an ongoing ownership interest in the new combined entity, and innovative opportunities both at home and abroad.

All of these efforts support our ability to deliver on our commitments to you. In fact, last year, we delivered more than $5 billion in benefits, with each dollar helping our policyowners and customers live a better life.

Still, with the progress we’ve made, there is much more to do given the vast number of financially underprepared in our country. For too many, financial security is becoming increasingly out of reach, and our strategy is built around developing a lasting solution to this enduring problem.

First, it starts with our people. We spent every day of 2017 helping our customers at all stages of life, whether it was an advisor counseling a business owner on a succession plan, a retirement education specialist showing a worker how to save more each month, or a customer service representative ensuring a disability income check got to a claimant on time. While each situation is different, the experience is the same: a personal connection you can rely on to help navigate your biggest financial challenges.

At the same time, we know that in today’s world, many of our daily interactions are digital in nature. So whether you want to work with us in person, on your tablet, or both, our goal is to make the experience simple and seamless. That’s why we also spent 2017 enhancing and expanding the ways we serve you – anytime, anywhere – so we can best meet your needs on your terms.

We refreshed our brand, celebrating interdependence and reflecting the values that have long guided us, while also launching a new massmutual.com, where you can find an advisor near you, buy life insurance directly, or actively manage your portfolio. We also continued to use data to drive better outcomes – from expanding our use of algorithms to provide protection in a fraction of the time, to giving workers the ability to track and improve their retirement readiness right from their phones.

At the heart of these solutions is our dedicated and talented team of colleagues. Their innovative spirit and tireless efforts continue to earn us recognition across a broad range of areas, including operational excellence from the Shingo Institute, diversity and inclusion from the Human Rights Campaign, and ethics and integrity from the Ethisphere Institute.

And finally, our passion for making life better for our customers extends to our communities. In its first full year in 2017, the MassMutual Foundation broadened economic opportunities for youths and their families, including the expansion of our FutureSmart digital curriculum, which has provided financial and life lessons to nearly a million students. In addition, last year marked the 15th anniversary of our LifeBridge program, which has provided nearly $700 million in free life insurance³ to thousands of families across the country.

Depending On Each Other

Like so much of what we do, all of these initiatives are centered on the notion that we’re always stronger when we recognize our responsibilities to each other – and work to improve the lives of those around us. That’s exactly what we’ve done for the past century and a half, as we’ve helped generations of people secure their future and protect the ones they love.

I’m proud of that purpose, proud of our accomplishments in 2017, and most of all, proud to be part of the MassMutual community with each of you. Together, we can build a future that brings us closer. That shows us we don’t have to go it alone. That makes life better for all of us.

That’s what it means to Live Mutual. We look forward to working with you this year – and every year – to make that vision a reality.

Sincerely,

Roger W. Crandall
Chairman, President & Chief Executive Officer