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Connecticut Mutual Life Insurance Company
The Massachusetts Mutual Life Insurance Company, also known as MassMutual, is a Springfield, Massachusetts-based life insurance company. MassMutual provides financial products such as life insurance, disability income insurance, long term care insurance, and annuities. Major affiliate includes Barings LLC. MassMutual ranks at 100 in the 2022 Fortune 500 list of the largest United States corporations by total revenue. The company has revenues of $10.7 billion and assets under management of $312 billion (as of 2022). The company employs more than 7,000 in the United States, and a total of 10,614 internationally. History Origins Massachusetts Mutual Life Insurance Company (MassMutual) began operation on May 15, 1851 in Springfield, Massachusetts. It was founded by George W. Rice, who subscribed for a guarantee capital of $100,000. As an insurance agent who sold policies for Connecticut Mutual Life Insurance Company in Hartford, Connecticut, Rice wanted to open a company of hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New England
New England is a region consisting of six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York (state), New York to the west and by the Canadian provinces of New Brunswick to the northeast and Quebec to the north. The Gulf of Maine and Atlantic Ocean are to the east and southeast, and Long Island Sound is to the southwest. Boston is New England's largest city and the capital of Massachusetts. Greater Boston, comprising the Boston–Worcester–Providence Combined Statistical Area, houses more than half of New England's population; this area includes Worcester, Massachusetts, the second-largest city in New England; Manchester, New Hampshire, the largest city in New Hampshire; and Providence, Rhode Island, the capital of and largest city in Rhode Island. In 1620, the Pilgrims (Plymouth Colony), Pilgrims established Plymouth Colony, the second successful settlement in Briti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1918 Flu Pandemic
The 1918–1920 flu pandemic, also known as the Great Influenza epidemic or by the common misnomer Spanish flu, was an exceptionally deadly global influenza pandemic caused by the Influenza A virus subtype H1N1, H1N1 subtype of the influenza A virus. The earliest documented case was March 1918 in Kansas, United States, with further cases recorded in French Third Republic, France, German Empire, Germany and the United Kingdom of Great Britain and Ireland, United Kingdom in April. Two years later, nearly a third of the global population, or an estimated 500 million people, had been infected. Estimates of deaths range from 17 million to 50 million, and possibly as high as 100 million, making it List of epidemics and pandemics, the deadliest pandemic in history. The pandemic broke out near the end of World War I, when wartime Censorship, censors in the belligerent countries suppressed bad news to maintain morale, but newspapers Freedom of the press, freely reported the outbreak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Provision (accounting)
In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement. In U.S. Generally Accepted Accounting Principles (U.S. GAAP), a provision is an expense. Thus, "Provision for Income Taxes" is an expense in U.S. GAAP but a liability in IFRS. Under International Financial Reporting Standards In the International Financial Reporting Standards (IFRS), the treatment of provisions (as well as contingent assets and liabilities) is found in IAS 37. Definition A provision can be a liability of uncertain timing or amount. A liability, in turn, is a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Though it is often thought ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Armstrong Investigation
The Armstrong Committee, formally the Joint Committee of the Senate and Assembly of the State of New York to Investigate and Examine into the Business and Affairs of Life Insurance Companies Doing Business in the State of New York was a committee established by the New York State Legislature in late 1905 to investigate life insurance companies operating in New York. The investigation culminated in a report which highlighted questionable practices in the insurance industry, and made several recommendations of changes to be made. The committee conducted 51 investigatory sessions and its recommendations were incorporated into eight New York State statutes. One recommendation adopted in New York and several other states was a restriction on policies with lengthy deferred payouts, including the 19th century version of tontines.''Evolving Financial Markets and International Capital Flows: Britain, the Americas, and Australia, 1865–1914'', Lance E. Davis and Robert E. Gallman, p 286 A p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massachusetts Mutual Life Insurance Company, Springfield, Mass (61516)
Massachusetts ( ; ), officially the Commonwealth of Massachusetts, is a state in the New England region of the Northeastern United States. It borders the Atlantic Ocean and the Gulf of Maine to its east, Connecticut and Rhode Island to its south, New Hampshire and Vermont to its north, and New York to its west. Massachusetts is the sixth-smallest state by land area. With a 2024 U.S. Census Bureau-estimated population of 7,136,171, its highest estimated count ever, Massachusetts is the most populous state in New England, the 16th-most-populous in the United States, and the third-most densely populated U.S. state, after New Jersey and Rhode Island. Massachusetts was a site of early English colonization. The Plymouth Colony was founded in 1620 by the Pilgrims of ''Mayflower''. In 1630, the Massachusetts Bay Colony, taking its name from the Indigenous Massachusett people, also established settlements in Boston and Salem. In 1692, the town of Salem and surrounding areas e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transcontinental Railroad
A transcontinental railroad or transcontinental railway is contiguous rail transport, railroad trackage that crosses a continent, continental land mass and has terminals at different oceans or continental borders. Such networks may be via the Railway track, tracks of a single railroad, or via several railroads owned or controlled by multiple railway company, railway companies along a continuous route. Although Europe is crisscrossed by railways, the railroads within Europe are usually not considered transcontinental, with the possible exception of the historic Orient Express. Transcontinental railroads helped open up interior regions of continents not previously colonized to exploration and settlement that would not otherwise have been feasible. In many cases, they also formed the backbones of cross-country passenger and freight transportation networks. Many of them continue to have an important role in freight transportation, and some such as the Trans-Siberian Railway even have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Detroit
Detroit ( , ) is the List of municipalities in Michigan, most populous city in the U.S. state of Michigan. It is situated on the bank of the Detroit River across from Windsor, Ontario. It had a population of 639,111 at the 2020 United States census, 2020 census, making it the List of United States cities by population, 26th-most populous city in the United States and the largest U.S. city on the Canada–United States border. The Metro Detroit area, home to 4.3 million people, is the second-largest in the Midwestern United States, Midwest after the Chicago metropolitan area and the 14th-largest in the United States. The county seat, seat of Wayne County, Michigan, Wayne County, Detroit is a significant cultural center known for its contributions to music, art, architecture and design, in addition to its historical automotive and industrial background. In 1701, Kingdom of France, Royal French explorers Antoine de la Mothe Cadillac and Alphonse de Tonty founded Fort Pontc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago
Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of United States cities by population, third-most populous city in the United States after New York City and Los Angeles. As the county seat, seat of Cook County, Illinois, Cook County, the List of the most populous counties in the United States, second-most populous county in the U.S., Chicago is the center of the Chicago metropolitan area, often colloquially called "Chicagoland" and home to 9.6 million residents. Located on the shore of Lake Michigan, Chicago was incorporated as a city in 1837 near a Chicago Portage, portage between the Great Lakes and the Mississippi River, Mississippi River watershed. It grew rapidly in the mid-19th century. In 1871, the Great Chicago Fire destroyed several square miles and left more than 100,000 homeless, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cleveland
Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located along the southern shore of Lake Erie, it is situated across the Canada–U.S. maritime border and approximately west of the Ohio-Pennsylvania state border. Cleveland is the most populous city on Lake Erie, the second-most populous city in Ohio, and the 53rd-most populous city in the U.S. with a population of 372,624 in 2020. The city anchors the Cleveland metropolitan area, the 33rd-largest in the U.S. at 2.18 million residents, as well as the larger Cleveland– Akron– Canton combined statistical area with 3.63 million residents. Cleveland was founded in 1796 near the mouth of the Cuyahoga River as part of the Connecticut Western Reserve in modern-day Northeast Ohio by General Moses Cleaveland, after whom the city was named. The city's location on the river and the lake shore allowed it to grow into a major commercial and industrial metropolis by the late 19th century, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
