Massachusetts Mutual Life Insurance Co. announced strong performance across its major lines of business in the fourth quarter.
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Assets under management at MassMutual and its units, which include OppenheimerFunds, Babson Capital Management, and Baring Asset Management, rose 15% from a year earlier, to $456 billion, the Springfield, Mass., company said Tuesday.
In addition, consolidated statutory net income rose 8%, to $810 million, and dividends to eligible participating policyholders increased 6%, to $1.23 billion.
Premium and other deposits increased 6%, to $26.3 billion, and worldwide insurance increased 6%, to $473 billion. Statutory total adjusted capital increased 7%, to $9.4 billion.
