Massachusetts Mutual Life Insurance Co. has agreed to buy The Hartford's retirement plans business for $400 million, helping push MassMutual's retirement plan assets to nearly $120 billion.
The transaction is expected to close by the end of 2012.
"This acquisition represents an important step for MassMutual and underscores our long-standing commitment to the retirement market. Following the closing of the transaction, we look forward to combining the best of our two organizations, to offer enhanced capabilities and greater overall value across a broader retirement market," said Roger Crandall, chairman, president and CEO of MassMutual.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
