AM Best


A.M. Best Affirms Rating of Massachusetts Mutual Life


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Stephanie McElroy

(908) 439-2200, ext. 5128

stephanie.mcelroy@ambest.com
Public Relations

Jim Peavy

(908) 439-2200, ext. 5644

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Rachelle Striegel

(908) 439-2200, ext. 5378

rachelle.striegel@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK, N.J. - JANUARY 28, 2003 12:00 AM (EST)
A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA) with a stable outlook.

The ratings reflect MassMutual's consistently favorable earnings performance and strong cash flows driven primarily by its core life and pension businesses. The rating also recognizes MassMutual's strong brand identity and diversified product offerings in the individual high net worth market, its well-established niche in the 401(k) market and the benefits the group derives from its ownership of OppenheimerFunds Inc., the organization's asset management subsidiary.

Partially offsetting these positive factors is the intense competition MassMutual faces in its core life and asset accumulation businesses as well as the challenges in continuing to profitably diversify its distribution channels.

The financial strength rating of A++ (Superior) has been affirmed for Massachusetts Mutual Life Insurance Company and its following subsidiaries:

- C. M. Life Insurance Company

- MML Bay State Life Insurance Company


A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.

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