Financial Performance and Insurance Ratings

At MassMutual, we’ve followed a prudent investment strategy for more than 170 years, giving policyholders confidence that we will deliver on our long-term commitments.

2020 Financial Summary

  • #123

    on the Fortune 500© list1

  • $1.7B

    in Policyholder Dividends

  • $6.2B

    Insurance and Annuity Benefits paid in 2020

  • $29B

    in total adjusted capital2

  • $222B

    total invested assets

Graph of 2020 financials

Financial Strength Ratings3

Rating Agency Rating Outlook

Rating Agency

A.M. Best Company

Rating

A++
Superior

Outlook

Stable

Rating Agency

Fitch Ratings

Rating

AA+
Very Strong

Outlook

Stable

Rating Agency

Moody's Investors Service

Rating

Aa3
High Quality

Outlook

Stable

Rating Agency

Standard & Poor's

Rating

AA+
Very Strong

Outlook

Stable

Financial Documents

Select a year to review the financial documents

2021 Consolidated Statutory Financial Statements (PDF)
Massachusetts Mutual Life Insurance Company and Subsidiaries
Q1 Q2 Q3
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3

2021 Annual and Corporate Responsibility Reports
Not yet available for 2021

2021 Statutory Quarterly and Annual Statements (PDF)
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3
C.M. Life Insurance Company
Q1 Q2 Q3
MML Bay State Life Insurance Company
Q1 Q2 Q3

2021 Separate Account Statements (PDF)
Not yet available for 2021

2021 Internal Control Certification
Not yet available for 2021

2020 Consolidated Statutory Financial Statements (PDF)
Massachusetts Mutual Life Insurance Company and Subsidiaries
Q1 Q2 Q3 Q4
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3 Q4

2020 Annual and Corporate Responsibility Reports (PDF)

2020 Statutory Quarterly and Annual Statements (PDF)
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3 Q4
C.M. Life Insurance Company
Q1 Q2 Q3 Q4
MML Bay State Life Insurance Company
Q1 Q2 Q3 Q4

2020 Separate Account Statements (PDF)
Massachusetts Mutual Life Insurance Company
C.M. Life Insurance Company
MML Bay State Life Insurance Company

2020 Internal Control Certification (PDF)

2019 Consolidated Statutory Financial Statements (PDF)
Massachusetts Mutual Life Insurance Company and Subsidiaries
Q1 Q2 Q3 Q4
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3 Q4

2019 Annual and Corporate Responsibility Reports (PDF)

2019 Statutory Quarterly and Annual Statements (PDF)
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3 Q4
C.M. Life Insurance Company
Q1 Q2 Q3 Q4
MML Bay State Life Insurance Company
Q1 Q2 Q3 Q4

2019 Separate Account Statements (PDF)
Massachusetts Mutual Life Insurance Company
C.M. Life Insurance Company
MML Bay State Life Insurance Company

2019 Internal Control Certification (PDF)

2018 Consolidated Statutory Financial Statements (PDF)
Massachusetts Mutual Life Insurance Company and Subsidiaries
Q1 Q2 Q3 Q4

2018 Annual and Corporate Responsibility Reports (PDF)

2018 Statutory Quarterly and Annual Statements (PDF)
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3 Q4
C.M. Life Insurance Company
Q1 Q2 Q3 Q4
MML Bay State Life Insurance Company
Q1 Q2 Q3 Q4

2018 Separate account statements (PDF)
Massachusetts Mutual Life Insurance Company
C.M. Life Insurance Company
MML Bay State Life Insurance Company

2018 Internal Control Certification (PDF)

2017 Consolidated Statutory Financial Statements (PDF)
Massachusetts Mutual Life Insurance Company and Subsidiaries
Q1 Q2 Q3 Q4

2017 Annual and Corporate Responsibility Reports (PDF)

2017 Statutory Quarterly and Annual Statements (PDF)
Massachusetts Mutual Life Insurance Company
Q1 Q2 Q3 Q4
C.M. Life Insurance Company
Q1 Q2 Q3 Q4
MML Bay State Life Insurance Company
Q1 Q2 Q3 Q4

2017 Separate Account Statements (PDF)
Massachusetts Mutual Life Insurance Company
C.M. Life Insurance Company
MML Bay State Life Insurance Company

2017 Internal Control Certification (PDF)

Consolidated Statutory Financial Statements (PDF)
Massachusetts Mutual Life Insurance Company and Subsidiaries
2016 Q1 Q2 Q3 Q4
2015 Q1 Q2 Q3 Q4
2014 Q1 Q2 Q3 Q4
2013 Q1 Q2 Q3 Q4
2012 Q1 Q2 Q3 Q4

2016 Annual and Corporate Responsibility Reports (PDF)
2015 Annual and Corporate Responsibility Reports (PDF)

Statutory Quarterly and Annual Statements (PDF)
Massachusetts Mutual Life Insurance Company
2016 Q1 Q2 Q3 Q4
2015 Q1 Q2 Q3 Q4
2014 Q1 Q2 Q3 Q4
2013 Q1 Q2 Q3 Q4
2012 Q1 Q2 Q3 Q4
C.M. Life Insurance Company
2016 Q1 Q2 Q3 Q4
2015 Q1 Q2 Q3 Q4
2014 Q1 Q2 Q3 Q4
2013 Q1 Q2 Q3 Q4
2012 Q1 Q2 Q3 Q4
MML Bay State Life Insurance Company
2016 Q1 Q2 Q3 Q4
2015 Q1 Q2 Q3 Q4
2014 Q1 Q2 Q3 Q4
2013 Q1 Q2 Q3 Q4
2012 Q1 Q2 Q3 Q4

Separate Account Statements (PDF)
Massachusetts Mutual Life Insurance Company
2016 2015 2014 2013 2012 
C.M. Life Insurance Company
2016 2015 2014 2013 2012
MML Bay State Life Insurance Company
2016 2015 2014 2013 2012

Internal Control Certification (PDF)
2016 2015 2014  2013 2012

Protect those who matter most

Our Long-Term Investment Philosophy

Being able to honor our commitments to our customers and policyowners is important to us. That’s why we’re proud our investment strategy helps position us to do so both now, and in the future.

Our investment strategy is built on diversification, prudent security selection and value. Because of it, we’ve been able to achieve solid long-term investment returns — even in unpredictable markets and challenging economic times.

Read our Investment Philosophy

1 From FORTUNE. ©2021 FORTUNE Media IP Limited. All rights reserved. FORTUNE 500 (June 2021) and FORTUNE World’s Most Admired Company (February 2021) are registered trademarks of FORTUNE Media IP Limited and are used under license. FORTUNE and FORTUNE Media IP Limited are not affiliated with, and do not endorse products or services of, MassMutual.

2 Total Adjusted Capital would be $30.5 billion including $1.9 billion from Rothesay. With the additional investment in Rothesay in December 2020, the UK life company is classified as an affiliated alien insurer and excluded from Total Adjusted Capital, resulting in $28.6 billion.

3Ratings are as of 11/1/2021 and apply to Massachusetts Mutual Life Insurance Company and its subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company. Ratings are subject to change.