2. Contents
1 | Quality and Performance 2009
2 | The Mutual Advantage
3 | MassMutual Customer VoicesSM – Meet the Riggs
4 | Our Company
5 | Who We Are and What We Do
6 | Rating Your Insurer
7 | MassMutual Customer VoicesSM – Meet the Purcells
8 | How MassMutual Stacks Up
9 | 2008 Operating Results
10 | Standing Behind Our Obligations
11 | MassMutual Customer VoicesSM – Meet Elizabeth Binnings
12 | Our Loyal Policyholders
13 | Dividend Interest Rates
14 | Historical Dividend Studies from MassMutual
16 | Actual Historical Performance Since 1980
NOT A BANK OR CREDIT UNION DEPOSIT OR OBLIGATION • NOT FDIC OR NCUA INSURED • NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY • NOT GUARANTEED BY ANY BANK OR CREDIT UNION
3. Quality and Performance 2009
For over 158 years, MassMutual has demonstrated qualities like strength,
experience and stability. For us, this is not a new approach. As a matter
of fact, through the most prosperous and turbulent of economic times, these
qualities make up who we are, what we do and what we’ll keep on doing.
Throughout the years, our main focus has never wavered. We help people like you take the next
step toward a more secure financial future. Instead of chasing after the “hot” product to sell in each
market cycle, we remain committed to products that have proven to be trustworthy, reliable and
steady through all kinds of economic and social conditions. And we’re committed to a nationwide
network of highly trained and knowledgeable financial professionals who think the way we do –
in terms of long-term value. With both whole life sales and the number of financial professionals
affiliated with MassMutual up substantially through 2008 and 2009, we’re continuing to see those
commitments yield solid results.
As a mutual company, we operate for the benefit of our members and policyholders. It’s not about
fitting you into a category or rushing you into a sale. It’s about establishing a long-term relationship
and helping you build your financial future.
Quality and Performance provides you with information about MassMutual’s ownership, diver-
sification, financial strength, quality and historical dividend performance – so you can have the
confidence of knowing MassMutual is a good decision.
What company can you depend on for the long term?
Since 1851, the answer is MassMutual.
Quality and Performance 2009 1
4. The Mutual Advantage
Your interests come first.
That’s our commitment to you.
A prudent We believe our mutual ownership provides a distinct advantage. We have
no shareholders, so we face no short-term market pressures to manage
investment philosophy quarter-to-quarter to meet shareholder earnings expectations or to enhance
Being mutual means our shareholder value. Our commitment is to help you focus on what you value
investment philosophy starts with most and to understand how life’s uncertainties could impact your plans
and aspirations.
an eye on the future. We do the
hard work and make the tough We seek to maintain the financial strength and stability of the Company to
decisions to position ourselves meet future obligations and to serve the long-term interests of our customers.
against short-term market What does it mean to be mutually owned
pressures. And, because we’re
(or member-owned)?
not publicly traded, we face no
pressure to enhance stock prices. There are two common forms of insurance company structure – mutual and
stock. As a mutual company, MassMutual does not have any shareholders
and is often described as being owned by its members. This generally
means that if you are insured under a whole life insurance policy issued
by MassMutual, for example, you are a member entitled to vote for the
Company’s Board of Directors.
Moreover, if you also own the policy, you may be entitled to share in any
dividends the Company may declare.
Who is an eligible participating policy owner?
One example of an eligible participating policy owner is an owner of an
individual whole life policy issued by MassMutual who benefits from the
company’s mutual status by sharing in any annual dividends, if declared.
After setting aside a safe margin for reserves and surplus, MassMutual pays
any amount left over to eligible participating policy owners in the form of
declared dividends based on predetermined factors.
For more information on how our mutuality works for you, visit
www.massmutual.com/mutuality.
2 Quality and Performance 2009
5. MassMutual Customer VoicesSM
real people, real solutions
“ As we look back at the
different decisions we’ve made
with our finances over the years,
we really think that this has been
one of the best. ”
Cindy and Joe Riggs
Meet the Riggs Family Profile • Leaving the legacy of a small business
Joe and Cindy Riggs are the owners of Bowling
• Helping to protect a family owned small business
Green Golf Club. Joe inherited the business from his
father, Albert Riggs. “We’d like to think that the land • MassMutual life insurance
is still founded in its original roots, that a number of
generations of our family have been involved with all Joe and Cindy have made many decisions regarding
these years,” Joe says, “all the more reason to be sure preserving their assets and providing for their family’s
that continuity can be maintained in the future.” future, “and we’re pleased with the choices that
we’ve made.”
They sought advice from a MassMutual financial
professional to plan for successfully passing the
business and their wealth to their children, Will
and Sarah.
Over the years Joe and Cindy have worked with their
MassMutual financial professional and their attorney on
comprehensive estate planning – including whole life
insurance that continues to build cash value, and a large
amount of second-to-die insurance, which will allow
the family business to pass to Will and Sarah without
being encumbered by federal estate tax. Their heirs will
be able to pay the taxes on the property with the value of Watch the video at
the life insurance policy and the business could remain www.massmutual.com/customervoices
intact without any liquidation.
Quality and Performance 2009 3
6. Our Company
Experienced people, exceptional products.
MassMutual Financial Group is a marketing name for Massachusetts
Mutual Life Insurance Company (MassMutual) and its affiliated companies
MassMutual and our affiliated
and sales representatives.
insurance companies have
received certification from We serve individuals and businesses worldwide with a broad portfolio of
IMSA, an industry organization financial products.1 We’re a global company, and we’re also the local
dedicated to promoting ethical financial professionals you can get to know and work with one-on-one.
conduct in all customer contacts
involving sales and service of Our family of companies includes:
individual life insurance, annuity Babson Capital Management LLC
and long term care products. Baring Asset Management Limited
C.M. Life Insurance Company
Cornerstone Real Estate Advisers LLC
MassMutual Asset Finance
MassMutual International LLC
MML Bay State Life Insurance Company
MML Investors Services, Inc.
OppenheimerFunds, Inc.
The MassMutual Trust Company, fsb
1
Products and services are available where the companies and sales agents are licensed to do business.
4 Quality and Performance 2009
7. Who We Are and What We Do
Our businesses Our relationships Our solutions
Insurance1 • Individuals • Permanent and term life insurance
• Businesses and business owners • Disability income insurance
• Key business executives • Long term care insurance
• Employee benefit plan sponsors • Executive benefits and benefit
• Agents funding vehicles
• Trust services2
Retirement • Financial professionals including advisers, • Defined benefit plans / consulting
broker-dealers, wirehouses, consultants, • Defined contribution / 401(k) plans
third-party administrators
• Nonqualified deferred compensation plans
• Retirement plan sponsors: Businesses,
labor unions, tax-exempt organizations • Tax-exempt plans including 403(b) and 457
• Participants in employer-sponsored • Taft-Hartley plans
retirement plans • Deferred and immediate annuities
• Individuals and business owners • IRAs
Investment Management 3
• Individual investors • Mutual funds
• Institutional investors • Separately managed accounts
• Advisors / Intermediaries • Investment management for institutions and
sub-advisory services
• 529 college savings plans
• Fixed income and absolute return strategies
• Medium term notes
• Structured product
• Corporate and commercial real estate financing
International4
• Individuals • Fixed and variable annuities – deferred
• Key business executives and immediate
• Corporations, businesses and institutions • Life insurance: Universal and variable
• Advisors / Intermediaries • Whole life: Individual and group
• Defined contribution plans
• Structured notes
1
U.S. Insurance Group products issued by MassMutual, Springfield, MA 01111 and its subsidiaries, C.M. Life Insurance Company and MML Bay State Life
Insurance Company, Enfield, CT 06082
2
Trust services provided by MassMutual Trust Company, FSB
3
Securities offered through registered representatives of MML Investors Services, Inc., a MassMutual subsidiary. Investment management services
offered by Babson Capital Management LLC, Boston/Springfield, MA, Baring Asset Management Limited, London, U.K., Cornerstone Real Estate Advisers
LLC, Hartford, CT and OppenheimerFunds, Inc., New York, NY.
4
International products and services are not available in the United States.
Quality and Performance 2009 5
8. Rating Your Insurer
Financial strength and security.
One measure of a company’s value to
Insurer ratings provide a third- its customers is its financial strength.
party analysis of a company’s
Financial strength ratings are a key indicator of a company’s financial
financial condition. This may
strength and ability to deliver on its contractual obligations – meaning
help buyers assess the relative
paying on its commitments. At MassMutual, our exceptional financial
risk of doing business with
strength is underscored by ratings that are among the highest in
that company.
any industry:
A.M. Best Company A++ (Superior; top category of 15)*
This rating is assigned to companies that have, in Best’s opinion, a superior
ability to meet their ongoing obligations.
Moody’s Investors Service Aa2 (Excellent; third category of 21)*
Insurance companies rated ‘Aa’ offer excellent financial security. Together
with the Aaa group, they constitute what are generally known as
high-grade companies.
Standard & Poor’s AA+ (Very Strong; second category of 21)*
An insurer rated ‘AA+’ has VERY STRONG financial security
characteristics. ‘AA+’ is the second highest Insurer Financial Strength
Rating assigned by Standard & Poor’s.
Fitch Ratings AAA (Exceptionally Strong; top category of 21)*
Insurers assigned this highest rating are viewed as possessing an
exceptionally strong capacity to meet policyholder and contract
obligations. This capacity is highly unlikely to be adversely affected by
foreseeable events.
Ratings are as of November 2, 2009 and are subject to change. Ratings are for MassMutual, MML Bay State Life Insurance Company and C.M. Life
Insurance Company.
* Source: Best’s Credit Rating System and Procedures, 2009 Edition; Moody’s Rating Symbols & Definitions, June 2009; Standard & Poor’s Insurance
Ratings Criteria Life Edition 2005; Fitch Ratings Definitions of Ratings and Other Scales, March 2009.
6 Quality and Performance 2009
9. MassMutual Customer VoicesSM
real people, real solutions
“ I wouldn’t have been
able to take care of my mother
all those years without the
life insurance trust that
my father put in place. ”
John Purcell
Meet the Purcells Profile • Caring for an adult with a disability
Jack and Nan Purcell had been married for many
• Helping to protect a family
years when Nan became disabled and confined to a
• MassMutual life insurance
wheelchair. Jack was concerned about what might
happen to his wife if he was not around.
Only fourteen months after a substantial life insurance
Jack called his MassMutual financial professional, and policy was put in place in this trust, the insurance policy
longtime family friend, for help. He quickly realized that paid a large death claim and the insurance money
Jack was spending more and more time as a caregiver allowed the Purcell’s oldest son, John, to take over for
and it was important to help Jack make plans to have his his father as caregiver.
wife cared for the way he wanted after he was gone.
The insurance money provided the means for John
He also recommended that a substantial life insurance to carry out his father’s wishes. John took care of his
policy be placed into a life insurance trust. The purpose mother for eleven years. Jack had made a good decision.
of the trust was to provide funds to take care of Nan so
she would be able to stay in her own home if something
happened to Jack.
Watch the video at
www.massmutual.com/customervoices
Quality and Performance 2009 7
10. How MassMutual Stacks Up
Total Revenues of Well-known Companies
MassMutual $18,744.6
Nike $18,627.0
J.C. Penney $18,486.0
Union Pacific $17,970.0
Xerox $17,608.0
Kohls $16,389.0
Colgate-Palmolive $15,329.9
Viacom $14,625.0
Office Depot $14,495.5
CBS $13,950.4
Sun Microsystems $13,880.0
General Mills $13,652.1
Texas Instruments $12,501.0
US Airways Group $12,118.0
Dish Network $11,617.2
Avon Products $10,690.1
BJ’s Wholesale Club $10,027.4
Eastman Kodak $9,416.0
Limited Brands $9,043.0
GameStop $8,805.9
Nordstrom $8,573.0
Whole Foods $7,953.9
Yahoo $7,208.5
Black & Decker $6,086.1
0 $5,000 $10,000 $15,000 $20,000
Source: Fortune magazine, May 4, 2009
Revenues in millions as of December 31, 2008
8 Quality and Performance 2009
11. 2008 Operating Results Total enterprise-wide assets
Focus on the future. under management (in billions)
‘08 $363
’07 $505
As a mutual company, we make decisions differently ‘06 $456
$396
because we are accountable to our members. ‘05
’04 $326
‘03 $285
We offer a long-term focus, providing the strength and stability you expect ’02 $240
from us. Premiums and other deposits (in millions)
‘08 $25,109
To meet our policyholders’ and customers’ needs over the long term, all of $29,438
’07
our businesses directly support our core insurance operations and reinforce ‘06 $26,268
‘05 $24,735
our product portfolio. MassMutual had $18.7 billion of revenues in 2008
’04 $23,410
(as compiled in accordance with Fortune magazine’s revenue formula) and ‘03 $20,063
’02 $17,725
remains on Fortune’s “most admired companies” list for 2009.1
Worldwide insurance in force (in billions)
‘08 $523
’07 $503
Financial Highlights ‘06 $473
‘05 $447
(As of or for the year ended December 31, 2008)
’04 $433
‘03 $415
Enterprise-wide Measures ’02 $382
Total Assets Under Management2 . . . . . . . . . . . . . . . $363 billion Life company assets
and liabilites (in billions)
Premium and Other Deposits3 . . . . . . . . . . . . . . . . . . $25 billion $126
‘08
$116
$131
Worldwide Insurance in Force . . . . . . . . . . . . . . . . . . $523 billion ’07
$123
$122
‘06
$115
Consolidated Statutory Results
$114
‘05
The following consolidated statutory results of MassMutual also include $107
$108
the results of its U.S.-domiciled wholly-owned subsidiaries: MML Bay ’04
$102
State Life Insurance Company and C.M. Life Insurance Company. $97
‘03
$90
$84 Assets
Life Company Assets . . . . . . . . . . . . . . . . . . . . . . . . . $125 billion ’02 Liabilities
$78
Life Company Liabilities . . . . . . . . . . . . . . . . . . . . . . . $117 billion Total adjusted capital (in millions)
‘08 $9,548
Dividends to Policyholders . . . . . . . . . . . . . . . . . . . . . $1,331 million ’07 $10,294
‘06 $9,428
‘05 $8,787
’04 $7,978
‘03 $7,753
1
Fortune magazine, May 4, 2009
’02 $7,206
2
Assets Under Management includes assets and certain investment funds managed by our
subsidiaries.
3
Premium and Other Deposits include the premium of our world wide insurance operations, Source: 2002, 2003, 2004, 2005,
and deposits made into certain external investment funds managed by our subsidiaries. 2006, 2007, 2008 Annual Reports
Quality and Performance 2009 9
12. Standing Behind Our Obligations
Policyholder benefits paid in 2008.
At MassMutual, we help you keep your promises to those you care about.
The benefits paid to policyholders in 2008 serve as proof of our commit-
We sold our first life insurance
ment to our customers.
policy in 1851.
More than 158 years later, we’re Life Insurance Death Benefits . . . . . . . . . . . . . . . .$1.2 billion
still helping to provide financial Annuity Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . .$859 million
security to those who seek it. Disability Benefits . . . . . . . . . . . . . . . . . . . . . . . . .$295 million
Dividends to Policyholders . . . . . . . . . . . . . . . . . . .$1.3 billion
We are a company that helps people like you take the next step toward a
more secure financial future. We want you to have both confidence and
pride in us as your company.
Source: 2008 Annual Statement. These combined statutory results of MassMutual also include its U.S. wholly-owned subsidiaries: MML Bay State Life
Insurance Company and C.M. Life Insurance Company.
10 Quality and Performance 2009
13. MassMutual Customer VoicesSM
real people, real solutions
“ I’m happy that I purchased my
MassMutual disability income
insurance policy twenty years ago
because it has made my life
so much easier today. ”
Elizabeth Binnings
Meet Elizabeth Binnings Profile • Surviving with a disability
Elizabeth Binnings became a nurse anesthetist in 1985.
• Helping to protect a portion of your income
She enjoyed taking the time to connect with her patients
to put them at ease. • MassMutual disability income insurance
Then in 2007, Elizabeth was pushing a patient on a Initially, Elizabeth returned to work part-time. She then
gurney just like she would any other day, but she felt a developed a rare auto-immune disorder that ultimately
pull in her lower back. The following morning she woke caused her to not be able to work at all.
up in severe pain, unable to move her legs. Surgery
Although Elizabeth loved her job and was disappointed
repaired a disk in her spine, but she did not regain
when her doctor certified her inability to go back to work,
complete sensation in her legs.
she was relieved to have had her MassMutual disability
Thankfully, twenty years earlier, Elizabeth met with income insurance policy and her claims examiner’s
her MassMutual financial professional and purchased guidance and support throughout the process.
a MassMutual disability income insurance policy to
“To have to worry about the financial obligations of
help protect a portion of her income in the event of a
helping to maintain my lifestyle without a paycheck
disability. “I never wanted to be a burden to my family or
would have been very difficult,” says Elizabeth. “It was
friends…as a young woman I thought it was important
nice to know there was someone who cared on the other
to be prepared,” says Elizabeth.
end of the line,” says Elizabeth.
A senior claims examiner at MassMutual was assigned
to Elizabeth’s case and helped her with her claim.
Watch the video at
www.massmutual.com/customervoices
These policies have exclusions and limitations. For costs and complete details of coverage, please call your MassMutual agent or MassMutual at
(800)272-2216 to be referred to an agent in your area.
Quality and Performance 2009 11
14. Our Loyal Policyholders
Providing security since 1851.
An insurance company’s lapse percentage can show how satisfied its
policyholders are with their insurer. The lapse percentage indicates how
MassMutual has a long history
many in force or active policies per 100 are terminated during a specified
of providing quality products
time period due to cancellation of the policy or the policyholder’s failure
and service to our life insurance
to pay premiums on time. MassMutual’s lapse percentage* is among the
policyholders, so many of them
lowest in the industry** – a numeric symbol of our policyholder’s
choose MassMutual for their
ongoing trust.
lifetimes. As of December 31,
2008, over 95,000 policies have
The chart below indicates the percentage of individuals that kept
been with Massachusetts Mutual their policies in force over each of the past five years, along with our
Life Insurance Company for over five-year average.
50 years – a powerful measure of
5 year
long-term value and satisfaction. 2004 2005 2006 2007 2008 average
95.1 95.2 95.7 95.7 95.0 95.3
Policy years Number of Conversely, the chart below indicates the percentage of policies lapsed by
in force policies
policyholders over the same time period.
50-59 years 70,697
60-69 years 20,460 5 year
2004 2005 2006 2007 2008 average
70-79 years 4,396
4.9 4.8 4.3 4.3 5.0 4.7
80+ years 306
Total 50+ years over 95,000
* Lapse percentage numbers are calculated for Massachusetts Mutual Life Insurance Company only and do not include subsidiaries.
** Source: National Underwriter Insurance Data Services from Highline Data, 2009.
12 Quality and Performance 2009
15. Dividend Interest Rates for Participating Life Insurance Policies
The way companies apply dividend interest rates to calculate
dividends varies. Some companies quote gross rates. Others, Policies issued by MassMutual since March, 1996
including MassMutual, quote rates that are net of investment
Dividend Dividend
expenses only, while yet others quote rates that take Year Year interest rate
interest rate
1996 8.40% 2004 7.50%
additional items into consideration.
1997 8.40% 2005 7.00%
1998 8.40% 2006 7.40%
Policies issued by MassMutual prior to March, 1996 1999 8.40% 2007 7.50%
2000 8.20% 2008 7.90%
Dividend Dividend Year
2001 8.20% 2009 7.60%
Year interest rate Year interest rate 2002 8.05% 2010 7.00%
1978 7.40% 1994 9.30% 7.90%
2003
1979 7.80% 1995 9.00%
1980 8.27% 1996 8.40%
1981 8.27% 1997 8.40% Policies issued by the former Connecticut Mutual
1982 9.22% 1998 8.40% Life Insurance Company prior to March, 1996.*
1983 11.60% 1999 8.40% Dividend Dividend
1984 11.60% 2000 8.30% Year interest rate Year interest rate
1985 12.20% 2001 8.30% 1986 11.35% 1998 7.70%
1986 12.20% 2002 8.10% 1987 11.35% 1999 7.70%
1987 12.20% 2003 7.90% 1988 10.85% 2000 7.65%
1988 11.35% 2004 7.50% 1989 9.05% 2001 7.75%
1989 11.15% 2005 7.00% 1990 9.05% 2002 7.85%
1990 10.50% 2006 7.55% 1991 9.05% 2003 8.00%
1991 10.50% 2007 7.55% 1992 9.05% 2004 7.45%
1992 9.95% 2008 7.90% 1993 8.80% 2005 6.65%
1993 9.45% 2009 7.45% 1994 8.10% 2006 7.25%
This block of business is no longer sold. 1995 8.05% 2007 7.45%
1996 7.70% 2008 7.75%
The dividend interest rate is used to determine the 1997 7.70% 2009 7.40%
investment component of dividends; it is not the rate of This block of business is no longer sold. All rates shown assume an
Adjustable Loan Rate starting in 1983.
return on the policy. Dividends include an investment
component, a mortality component and an expense
component. Therefore, dividend interest rates should
not be used as the basis for comparing insurers.
Dividends are not guaranteed.
*MassMutual and the former Connecticut Mutual Life Insurance Company merged in March, 1996.
Quality and Performance 2009 13
16. Historical Dividend Studies from MassMutual
MassMutual has a long-standing reputation for not only life insurance. In the charts, dividends are shown as initially
standing behind its obligations, but also for providing good illustrated in 1980 and compared to the dividends that were
value to its policyholders. One example is its dividend actually paid each year.
paying history.
Customers who purchase certain types of “participating”
policies, such as whole life insurance, are eligible to receive
a portion of the Company’s divisible surplus, in the form of
policy dividends. Dividends are not guaranteed. Divisible
surplus is paid out after the company sets aside funds
required to cover contractual obligations (reserves), operating
expenses, contingencies for unexpected losses (such as
worsening mortality or economic conditions) and for general
business purposes. Each year the Board of Directors votes on
the amount and allocation of divisible surplus.
Mutual companies, such as MassMutual, set initial
premiums using conservative assumptions to ensure that the
company will collect enough to pay all benefits even under
very adverse future scenarios. If the premiums are more than
adequate, an eligible MassMutual participating policyholder
receives a policy dividend. The size of the dividend each
policyholder receives is determined by the “Contribution
Principle,” which states that divisible surplus is returned to
policyholders as they contribute to the surplus.
The numeric tables that follow illustrate MassMutual’s
actual historical dividend information on different whole
life insurance products that were issued in 1980. In these
historical examples, we used the best underwriting class
that was available at time of issue (non-smoker). The issue
ages are shown in the examples. The examples assume that
dividends are used to purchase paid up additional whole
14 Quality and Performance 2009
17. The historical study gives an interesting perspective on the
history of illustrated vs. actual numbers, and shows that
illustrated numbers really don’t reflect what will actually
happen. The results were more favorable than those initially
illustrated in 1980. One reason for the difference is that the
dividend interest rates since 1980 were higher in some years,
compared to the initial dividend interest rate of 8.27%.When
the initial illustration shows a dividend interest rate that is
higher than the actual dividend interest rates paid, the actual
values will typically be lower than initially illustrated.
Dividend terms
The results shown in the following tables are based on the
actual experience of the company over the period of time in
terms of interest rates, mortality and expenses. Dividends
on a policy illustration are not estimates or guarantees.
Dividends paid in future years will be lower or higher than
illustrated, depending on MassMutual’s actual experience.
Description of terms used in charts
• Guar CV – Refers to Guaranteed Cash Surrender
Value and is the amount of the cash surrender value
which is guaranteed under the policy.
• “IRR” – The Internal Rate of Return (IRR) is the rate • Termination Dividend (Also known as Settlement
at which outlays up to that year must be compounded Dividend) – The Termination Dividend is not
at each and every year to generate the Total Cash guaranteed and is payable only on surrender, maturity
Value or Total Death Benefit. For example, in the or at death. It is included in the Total Cash Surrender
Male, Age 45 historical study of a Convertible Whole Value and the Total Death Benefit.
Life policy issued in 1980, the IRR on the Total Cash
Value was initially illustrated at 3.13%, however, the
IRR based on actual dividends paid was 5.08%.
• MM Block – Refers to policies issued by MassMutual
prior to the merger with the former Connecticut Mutual
Life Insurance Company in 1996. Policies in this block
of business are no longer sold.
Quality and Performance 2009 15
23. Why MassMutual?
We are committed to helping you meet your financial needs: protection
for your family or business, products to help provide retirement income,
and the confidence of knowing you will be better prepared for the future.
At Massachusetts Mutual Life Insurance Company (MassMutual)
we stand strong in the fundamental belief that every secure financial
future begins with good decisions. And when choosing a life insurance
company, we believe quality and performance matter.
