SPRINGFIELD, Mass., April 24 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) announced today it has renewed its membership in the Insurance Marketplace Standards Association (IMSA), the premier standards-setting organization for the life insurance marketplace.
IMSA promotes high ethical standards in the sale and service of life insurance, annuity and long-term care products. For insurers to maintain IMSA member status, they must demonstrate that their ongoing business operations abide by IMSA's strict code of ethical market conduct. Every three years, insurers must undergo independent assessment of all business operations by an impartial third party. MassMutual recently completed the rigorous, independent review of its marketing, sales and compliance practices required to maintain IMSA qualification.
"The IMSA seal is a guidepost of excellence and integrity, and MassMutual is proud to comply with IMSA's standards," said Stuart H. Reese, chairman, president and CEO, MassMutual. "MassMutual firmly believes that the marketplace rewards honesty, high ethical standards, and doing what is right for the customer, and we are proud to apply these principles to every aspect of our business."
"IMSA qualification is a tangible demonstration that a company has put into place policies and procedures to help assure honesty and integrity in their business practices," Brian K. Atchinson, executive director of IMSA. "We congratulate MassMutual for its ongoing commitment to IMSA's high standards."
About MassMutual
MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries. Securities and investment advisory services offered through MML Investors Services, Inc., a broker-dealer and registered investment advisor.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member NASD and SiPC (http://www.nasd.org/ and http://www.sipc.org/); MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at http://www.massmutual.com/.
About IMSA
IMSA is the premier standards-setting organization for the life insurance, annuities and long-term care insurance marketplace for individually sold products. Qualified companies commit to maintaining high ethical standards and to being fair, honest, and open in the way they advertise, sell and service their products. IMSA qualification is for three years. The IMSA seal is a guidepost of excellence and integrity for consumers. For more information, visit http://www.imsaethics.org/.
Contacts: Jim Lacey
413-744-2365
Mark Cybulski
413-744-5427
Website: http://www.massmutual.com/
Website: http://www.imsaethics.org/