MassMutual Names New Chief Underwriter

Massachusetts Life Insurance Co. has promoted Pamela Beals to chief underwriting. She will be responsible for the oversight of the company’s underwriting discipline, training, policies and guidelines, as well as case consultation, the mutual life insurer said.

Beals joined MassMutual in 1990 and has been a member of the company’s life insurance underwriting leadership team since 1999. Most recently, she led MassMutual’s underwriting services division in support of its leading financial professionals as well as brokerage business through the company’s career agency system.

Attempts to get comment from MassMutual were not immediately successful.

In December, Roger W. Crandall, president and chief executive officer of Massachusetts Mutual Life Insurance Co., became the chairman of the board of directors (BestWire, Dec. 29, 2010). Crandall succeeded Stuart H. Reese, who has retired. Reese served as chairman and CEO before Crandall was named CEO earlier in 2010.

MassMutual ranks among the top 10 providers of individual life insurance in the United States as measured by annualized new business premium, according to BestLink, which provides online access to A.M. Best’s database of insurance information. In the individual life segment, MassMutual offers a complete line of products, including whole, universal, term and variable life insurance. In addition to life products, MassMutual markets disability income and long-term care insurance.

It marks its 160th anniversary in 2011.

Massachusetts Mutual Life Insurance Co. currently has a Best’s Financial Strength Rating of A++ (Superior).

(By Rick Cornejo, managing editor, BestWeek: rick.cornejo@ambest.com)