- Eligible participating policyowners and members to reap benefits of MassMutual’s success and long-term customer-centric strategy through best-ever estimated payout
- Diverse mix of high-performing businesses and favorable investment performance bolster all-time high dividend
SPRINGFIELD, Mass., Nov. 5, 2018 – Massachusetts Mutual Life Insurance Company (MassMutual) announced today that its Board of Directors has approved a record $1.72 billion estimated dividend payout in 2019 to eligible participating policyowners and members, once again demonstrating outstanding policyowner value and underscoring its strong financial position.
The all-time high estimated dividend payout represents an increase of more than $125 million over 2018, and marks the 151st consecutive year that MassMutual will be paying a dividend.
Additionally, the 2019 estimated payout reflects a dividend interest rate1 of 6.40 percent for eligible participating policies, maintaining the same rate as 2018.
While dividends are not guaranteed, MassMutual has paid them to eligible participating policyowners every year since 1869. In fact, with the 2019 estimated payout, MassMutual will have delivered $14.7 billion in dividends to eligible participating policyowners since 2010.
“MassMutual’s track record of consistently paying an industry-leading dividend is the result of our distinct, diversified strategy, and core to who we are as a mutual company run for the benefit of our participating policyowners and members,” said Roger Crandall, MassMutual Chairman, President and CEO. “Our record estimated dividend payout for 2019 reflects the strength of our operations, the longevity of our success, and ongoing stewardship that has helped generations of people secure their future and protect the ones they love.”
The 2019 estimated dividend payout reflects improved mortality experience and favorable investment performance, as well as MassMutual’s strategic differentiator – its diverse mix of high-performing businesses, including its institutional and workplace businesses as well as its investments in international insurance and global asset management operations. It also underscores MassMutual’s financial strength, as the company has consistently earned among the highest ratings of any company in any industry2.
Further, over the past decade, MassMutual has delivered on commitments it made to its policyowners and customers by paying more than $35 billion in insurance and annuity benefits – including more than $5 billion in 2017 – and has increased total adjusted capital more than 60 percent to historic levels of more than $18 billion3.
“Our 2019 estimated dividend payout reflects our steadfast commitment to our participating policyowners and members,” said Mike Fanning, head of MassMutual U.S. “Through our dedicated financial professionals and innovative digital tools that meet people on their terms, we are strongly positioned to provide holistic financial solutions to the millions more who need them.”