(Enfield, CT) – Underscoring its commitment to the insurance and financial services sector in Connecticut, Massachusetts Mutual Life Insurance Company (MassMutual) today unveiled the more than $38 million renovation of its Bright Meadow campus, the primary location for the company’s retirement services and workplace insurance businesses.
The investment enhances the company’s overall infrastructure and positions MassMutual for future growth. It follows the company’s 2013 acquisition of The Hartford’s Retirement Plans business.
The renovations encompass approximately 15,000 square feet on the 66-acre, three-building site, and include infrastructure and technology improvements, a state-of-the-art data center and enhancements to common areas.
Several federal, state and local officials and employees gathered to help MassMutual officially cut the ribbon on the revamped facility, as the 163-year-old company reasserted its commitment to driving economic growth in the state and the surrounding Enfield community.
“The significant improvements we have made to our Enfield campus reflect our efforts to position our integrated retirement business for continued success, as well as our broader commitment to invest in our facilities and our communities,” said Roger Crandall, Chairman, President and CEO, MassMutual. “We now have a world-class facility to accommodate the excellent growth potential of this business, and we look forward to delivering an outstanding service experience for our customers here for many years to come.”
Among the improvements in and around the building:
• A state-of-the-art data center, the largest portion of the overall renovation project. The $23 million center will also deliver standby emergency power generation to most of the Enfield campus, thus enabling the facility to remain open in the event of a widespread power outage.
• The two-story lobby has been redesigned to prominently feature MassMutual branding, including the story of the company's history and technology to create personalized greetings for special guests.
• A third-floor presentation room has been created to welcome clients and visitors and demonstrate the company’s retirement solution capabilities.
• A new innovative learning lab aimed at enhancing employee learning.
• A redesigned visitors’ parking lot.
“Through the new construction and enhancements to our Enfield campus, we have created a dynamic and inviting work environment that fosters efficiency and productivity, and enables us to better provide our clients with the products and services they expect,” said Elaine Sarsynski, Executive Vice President of MassMutual’s Retirement Services division. “Our significant infrastructure investment also reaffirms MassMutual’s commitment to the state of Connecticut and to Enfield, a community we’ve been proud to be a part of for more than a decade.”
In addition to the new enhancements at its Enfield facility, MassMutual is also making infrastructure and workplace improvements to its Springfield campus. Between the two locations, the company is investing more than $85 million.
MassMutual currently employees about 2,400 people in its Retirement Services division; more than 1,600 are at its Enfield campus. The company also currently has 200 employees with Cornerstone Real Estate Advisers LLC, a MassMutual subsidiary, in Hartford.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.