Page 23 - Demo CEOs of the Fortune 500

company made a $9 billion acquisition of ING Direct USA and $2.6 billion acquisition of HSBC’s U.S. credit card business, both in 2012, as well as deals for financial services technology firms. Prior to his Capital One tenure, Miller was a principal at the Boston private equity firm Great Hill Partners, where he evaluated investment opportunities in finance and other industries. At MassMutual, Miller will oversee the development of the company’s corporate and business strategies, with a focus on improving long-term performance. He will work closely with the company’s top executives and report to Chief Financial Officer Betsy Ward, according to a statement from the firm. Most of MassMutual’s top executives are housed at its Springfield headquarters. Miller will sit at its offices at 470 Atlantic Ave., where its venture capital team is also based. The third-largest Massachusetts-based company based on revenue behind General Electric and Liberty Mutual, MassMutual has approximately 200 employees in Boston, spokesman Michael McNamara said. MassMutual’s most notable recent acquisition was last year’s purchase of MetLife’s network of U.S. retail financial advisers, including Boston’s Baystate Financial.
• Earns 'Third Party Distinctions': In a March 2017 announcement Massachusetts Mutual Life Insurance Company said it has "capped a year of exceptional growth by earning a range of third- party distinctions that underscore the company's industry leadership and commitment to providing lifelong financial protection to people across America." "I am proud that MassMutual is being recognized by renowned organizations for the strong results we deliver for the long-term benefit of our policyowners and, equally important, with respect to how we manage our business," Crandall said. "We have made great strides in reaching more people who need what we offer, and the accolades we have received are a testament to our work helping millions of Americans achieve the financial well-being needed to help secure their future and protect the ones they love.”
• “For the first time in its history, MassMutual has topped the list for placing the most whole life insurance business in the industry, according to the worldwide research and consulting firm LIMRA," the company said in the announcement. "MassMutual experienced a 34% growth rate in 2016, compared to an industry average of 9%, marking more than a decade of industry-leading of growth for MassMutual's whole life insurance offerings. This momentum has been fueled by the company's record 9,500-strong financial advisor network resulting from the company's acquisition of the MetLife Premier Client Group last summer, as well as the introduction of new and digital channels, which represented nearly 30 percent of new policies last year, including whole life insurance. Over the past decade, MassMutual has added more than 880,000 new policies and more than $490 billion in new insurance protection for its customers, demonstrating its ability to address the vast financial unpreparedness in our country, where more than 37 million households have no life insurance protection.2 Further exemplifying the company's focus on closing this gap and delivering on its commitments, MassMutual increased total coverage across all customers - or total life insurance in force - to more than $560 billion while delivering nearly $5 billion, in total insurance and annuity benefits by year-end 2016.
• “MassMutual has been named a Fortune World's Most Admired Company - a distinction held 18 out of the last 20 years (ranking 5th among the Most Admired companies in its industry in 2017). Importantly, in 2017 the company was recognized by FORTUNE as the leading company in the reputational category of innovation, honoring MassMutual's creativity and cutting-edge use of technology to better connect with and serve a broader population of policyowners. This important acknowledgement, with respect to innovation, also reflects MassMutual's leadership in exploring transformative ideas and approaches. From numerous investments in startups by MassMutual Ventures, to using data science to build business-changing models, to appealing to younger generations through Haven Life and the Society of Grownups, and facilitating improved access to potentially lifesaving information provided by individual genome sequencing, MassMutual has demonstrated progressive methods to reach and protect a widening consumer base.
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