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MASSMUTUAL REPORTS STRONG FINANCIAL PERFORMANCE FOR 1991

 MASSMUTUAL REPORTS STRONG FINANCIAL PERFORMANCE FOR 1991
 SPRINGFIELD, Mass., Feb. 10 /PRNewswire/ -- At a time when considerable attention is being given to the financial strength of the life insurance industry, Massachusetts Mutual Life Insurance Company reported one of the most successful financial years in its history.
 The company's 1991 financial results included:
 --Net gain from operations of $181 million;
 --Total assets in increased to $29.6 billion from $27.5 billion;
 --An addition to total capital of $247 million, placing the company's total capital level at $1.602 billion, an increase of 18 percent over the company's 1990 level.
 Summarizing the company's 1991 performance, MassMutual President and Chief Executive Officer Thomas B. Wheeler said: "Despite challenging economic conditions, MassMutual turned in a very solid financial performance in 1991. Of particular note is the strengthening of our capital position. We made a conscious decision last year to strengthen our capital base because of the uncertain economic environment. Solid revenues combined with disciplined expense control have permitted us to do just that."
 MassMutual's "total capital" consists of Contingency Reserves plus the Mandatory Securities Valuation Reserve. A mutual insurance company's capital, in effect, serves as a "financial cushion" for policyholders in the event of any unexpected downturns. The company increased its Contingency Reserves by $167 million in 1991, and increased its Mandatory Securities Valuation Reserve by $80 million -- thus comprising the 1991 total capital increase of $247 million.
 In addition, the company's sales figures for 1991, broken down by product line, were as follows:
 --Insurance & Financial Management: $999 million
 --Pension Management: $1.011 billion
 --Life & Health Benefits Management: $355 million.
 MassMutual's financial-strength ratings are among the highest in the insurance industry. The company holds an A+ (Superior) rating from A.M. Best Co.; an AAA claims-paying rating from Duff & Phelps Inc.; an Aa1 (highest in the "excellent" range) financial-strength rating from Moody's Investors Service Inc.; and an AA+ (highest in the "excellent" range) claims-paying rating from Standard & Poor's Corp.
 Established in 1951, MassMutual is among the 100 largest U.S. businesses in terms of assets.
 -0- 2/10/92
 /CONTACT: Eustis Walcott of MassMutual, 413-744-3679/ CO: Massachusetts Mutual Life Insurance Company ST: Massachusetts IN: INS SU:


SH -- NE025 -- 8421 02/10/92 15:40 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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