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MASSMUTUAL REPORTS STRONG FINANCIAL PERFORMANCE FOR 1992

 SPRINGFIELD, Mass., Feb. 16 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company reported a solid financial performance in 1992. MassMutual achieved a 1992 net gain of $197 million, a 9 percent increase, and total capital of approximately $1.8 billion, an 11 percent increase, the company announced today.
 MassMutual's 1992 financial results reached record levels including:
 -- Net gain from operations increased to nearly $197 million in 1992
 from $181 million.
 -- Total capital rose to $1.780 billion from $1.602, an 11 percent
 increase.
 -- The company paid out over $4.8 billion in benefits and dividends
 to policy holders, an increase of 16 percent.
 -- Total revenue, including premium and investment income, increased
 to $7.073 billion from $6.738 billion.
 -- Total assets under management rose to nearly $52 billion. Life
 insurance company assets increased to $31.5 billion from
 $29.6 billion. Assets under management at MassMutual subsidiary
 Oppenheimer Management Corp. increased to $20.0 billion from
 $18.4 billion.
 "Faced with an environment where the economy is weak and consumers are skittish, MassMutual turned in a very solid performance," said MassMutual president and chief executive officer, Thomas B. Wheeler. "By any significant measure, 1992 was another successful year in MassMutual's mission to be a life insurance company of preeminant financial strength, customer value and operation excellence."
 New sales by MassMutual's three primary product lines were as follows:
 -- Insurance and Financial Management: $1.346 billion.
 -- Life and Health Benefits Management: $251 million.
 -- Pension Management: $1.074 billion.
 Wheeler noted that in addition to a strong financial performance, MassMutual continues to be a leader in policyholder value. 1992 was the seventh consecutive year MassMutual was in the top five in A.M. Best's annual survey of 20-year dividend comparisons and the company's 15th year in Best's top 10.
 "These dividend comparisons show that MassMutual's consistent long- term performance has resulted in exceptionally low net costs for our policyholders," Wheeler said. "Looking ahead, our goal is to further build our capital base while continuing to provide a sound balance of financial security and optimal policyholder value."
 Established in 1851, MassMutual is the nation's 12th largest life insurer and among the 100 largest businesses in the United States. MassMutual is the parent company of Oppenheimer Management Corp., which manages 50 mutual finds and Concert Capital Management, Inc., an investment manager of assets for retirement funds and endowments.
 By all generally accepted measures -- capital adequacy, liquidity, asset quality, and asset/liability management -- MassMutual consistently ranks among the strongest life insurance companies in the nation. The company's reputation for financial stability and integrity is confirmed by all four of the insurance industry's leading analytical services: A.M. Best Company (A++), Duff & Phelps (AAA), Moody's Investors Service (Aa1), and Standard & Poor's Insurance Rating Service (AA+).
 -0- 2/16/93
 /CONTACT: Joseph Mondy, media relations director, of MassMutual, 413-744-2365/


CO: MassMutual Life Insurance Company ST: Massachusetts IN: INS SU: ERN

SJ -- NE007 -- 6777 02/16/93 09:53 EST
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Publication:PR Newswire
Date:Feb 16, 1993
Words:490
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