MassMutual Completes Acquisition of Aetna Heiwa Life

August 22, 2001

The MassMutual Financial Group announced that it had completed the purchase of Japan’s Aetna Heiwa Life Insurance Co. Inc. from Aetna International Inc., a division of Holland’s ING Group, which acquired it from Aetna last December.

MassMutual will own approximately 99 percent of Heiwa at a cost of $20 million, and plans to integrate its operations into its MassMutual International, Inc. subsidiary, which has substantial interests in many Asian countries.

Heiwa is Japan’s 19th largest life insurer with nearly $4.5 billion in assets, 1700 employees and 93 sales offices.

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