2019 Annual & Corporate
Responsibility Report
* Policy loans are loans taken by policyowners against the cash surrender value of their policies and, as such, are secured by the cash surrender value of those policies.
* Residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS)
We diversify the composition of the General Investment Account (GIA) by investing in a variety of asset classes in order to reduce the impact of negative events on our portfolio. MassMutual further diversifies by investing in strategic partnerships in international insurance and asset management businesses.
Our investment professionals conduct regular, thorough reviews of both current and potential holdings to ensure that they meet our criteria for inclusion in the GIA.
A relative value assessment of risk versus return informs our decision-making process as we consider various opportunities and their prospective impacts on GIA performance.
| Bonds | $106,023 |
|---|---|
| Mortgage Loans | $ 28,408 |
| Common & Preferred Stocks | $ 17,198 |
| Policy Loans | $ 14,973 |
| Derivatives & Other Assets | $ 14,950 |
| Partnerships & LLCs | $ 9,172 |
| Short-Term & Cash | $ 4,317 |
| Real Estate | $ 358 |
| Total Invested Assets | $195,399 |
| Private Corporate | $ 41,896 |
|---|---|
| Public Corporate | $ 30,798 |
| CMBS & Other ABS | $ 17,329 |
| Municipal & Sovereign | $ 6,238 |
| U.S. Treasury & Agency | $ 6,169 |
| Other | $ 1,770 |
| Non-Agency RMBS | $ 1,230 |
| Agency RMBS | $ 593 |
| Total Bonds | $106,023 |