MassMutual Does Not Intend to Participate in TARP Capital Purchase Program
Nov 7, 2008
(Springfield, MA) - Massachusetts Mutual Life Insurance Company (MassMutual) issued the following statement today regarding the U.S. Treasury's proposal to include insurers in its Capital Purchase Program.
MassMutual is well positioned, and has the financial strength and capital necessary to meet the needs of our policyholders and customers despite the current economic environment. For more than 155 years, MassMutual has maintained long-term focus, providing the strength and stability our policyholders expect. Our company is built on a reputation of financial strength, diversification and quality. Moreover, our mutual company structure enables us to manage with the long-term interests of our policyholders and customers in mind. Thus, we have not participated in any discussions directly with the Treasury, and we have no intention of participating in the Troubled Asset Relief Proposal (TARP) Capital Purchase Program.
About MassMutual
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries had more than $500 billion in assets under management at year-end 2007. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org); MassMutual International LLC and The MassMutual Trust Company, FSB.
