SPRINGFIELD, Mass., Jan. 23, 2014 /PRNewswire/ -- The National Association of Corporate Directors New England Chapter (NACDNE) has honored the Board of Directors of Massachusetts Mutual Life Insurance Company (MassMutual) with its Private Company Board of the Year Award for demonstrating excellence in corporate governance.
MassMutual's Board of Directors was one of two boards and three individuals honored by the organization this year. The NACDNE awards recognize boards of directors that have significantly protected or enhanced the value of their stakeholders as well as independent directors of public, private, and non-profit boards who have made valuable contributions to the boards on which they serve.
"I am proud to see MassMutual's Board of Directors recognized for its commitment to delivering strength and stability to our policyowners and customers," said Roger Crandall, Chairman, President and CEO, MassMutual. "Our board members lead by example and are fully invested in MassMutual's long-term success, and I appreciate their expertise, their insight, and many contributions to our company."
The NACDNE cited MassMutual's 2013 acquisition of The Hartford Retirement Plans business and record results, including $613 billion in total assets under management (as of 9/30/13), as some of MassMutual's recent achievements.
MassMutual's board of directors has 13 members, representing a variety of industries including financial services, telecommunications, technology, and education. Nearly half of MassMutual's board members are women or people of color, reflecting the company's commitment to fostering a diverse environment.
The NACDNE is the leading source in New England for corporate governance information, education, and training for directors and CEOs who are committed to raising standards and improving boardroom performance.
Award nominations are reviewed by nomination and selection committees made up of business and community leaders throughout New England. The awards will be presented at a ceremony on Thursday, April 10, at the Renaissance Boston Waterfront Hotel.
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. For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube and Google+.