MassMutual Named as a 2014 World's Most Ethical Company by the Ethisphere Institute
SPRINGFIELD, Mass., March 20, 2014 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) announced today that it has been recognized by the Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, as a 2014 World's Most Ethical Company®.
This is the first time that MassMutual has been honored with this award, which recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior. World's Most Ethical Company honorees understand the correlation between ethics, reputation and daily interactions with their brand and that the award belongs as much to their associates as it does to them.
"We are extremely honored to receive this award, as it reflects the culture of ethics and integrity that we have fostered for more than 162 years," said Roger Crandall, Chairman, President and CEO, MassMutual. "For generations, our policyowners and customers have placed their trust in us, and as the first mutual company in the life insurance industry category to be named a World's Most Ethical Company, we are proud to add this distinction to MassMutual's impressive list of awards and recognition."
"The entire community of World's Most Ethical Companies believes that customers, employees, investors and regulators place a high premium on trust and that ethics and good governance are key in earning it," said Ethisphere's Chief Executive Officer, Timothy Erblich. "MassMutual joins an exclusive community committed to driving performance through leading business practices. We congratulate everyone at MassMutual for this extraordinary achievement."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient™ framework. The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organization's performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics. The Ethics Quotient framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere's network of thought leaders and from the World's Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (25%), corporate citizenship and responsibility (25%), reputation, leadership and innovation (20%), culture of ethics (20%) and governance (10%).
The full list of the 2014 World's Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.
About the Ethisphere Institute
The Ethisphere® Institute is an independent center of research, best practices and thought leadership that promotes best practices in corporate ethics and governance and enables organizations to improve compliance, mitigate risk, and enhance relationships with employees, business partners, investors and the broad regulatory community. Ethisphere evaluates and benchmarks compliance and governance programs, honors superior achievement through its World's Most Ethical Companies® recognition program and publishes Ethisphere Magazine. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™. More information about Ethisphere can be found at: www.ethisphere.com.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
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