Company Notebook Departments

Company Notebook

MassMutual Announces 2014 Financial Results
SPRINGFIELD — Massachusetts Mutual Life Insurance Co. announced strong consolidated statutory financial results for 2014, including a substantial increase in earnings and net income, record sales in key businesses, and highest-ever levels of assets under management, statutory surplus, and total adjusted capital. The company reported that, for the year ended Dec. 31, 2014, sales of whole-life insurance were $418 million, up 20% from the prior 12 months — representing the ninth consecutive year of record highs — while retirement-plan sales rose 23% to $9.1 billion, also a record. The net gain from operations before policyowner dividends and taxes — the company’s primary earnings measure as a mutual company — was up 27% to $2.2 billion. Further, MassMutual’s highest-ever levels of statutory surplus and total adjusted capital — both key indicators of the company’s overall financial stability — were $14.2 billion and $16.4 billion, respectively, and continued to provide the company with substantial financial resources that help deliver long-term financial confidence and security to policyowners and customers. “I am pleased to report that 2014 was another tremendous year for MassMutual,” said Roger Crandall, MassMutual’s chairman, president, and CEO. “By delivering record results, outpacing growth in our industry, and increasing our financial strength, we performed favorably against the backdrop of a U.S. economy that continued a slow but steady rebound in 2014. Our results further illustrate our powerful momentum and have positioned the company for another great year in 2015.” He added, “through our people, products, and solutions, we continued to take steps to build a better company for our policyowners and customers, and deliver on our purpose to help people secure their future and protect the ones they love.” While dividends are not guaranteed, MassMutual’s board of directors approved an estimated 2015 dividend payout of $1.6 billion, which reflects a dividend interest rate of 7.10% on eligible participating life-insurance policies, highest among its mutual competitors. Also driving MassMutual’s 2014 success was its growing network of financial professionals, who help people gain confidence by bringing clarity and solutions to some of the biggest financial challenges they face. MassMutual expanded that network by 6% over 2013 to more than 5,500 financial professionals at the end of 2014, an all-time high.

The Spa Opens for Business in Westfield
WESTFIELD — New England Dermatology & Laser Center announced the opening of the Spa, a med spa located at 57 Union St. The new med spa at New England Dermatology & Laser Center boasts a peaceful, rejuvenating atmosphere and a complete menu of services designed to relax and revitalize. “The Spa provides restorative and nourishing treatments, including your favorite spa services and products, in addition to a complete line of medically supervised esthetic procedures,” said Dr. Stanley Glazer, a board-certified physician with over 40 years experience in dermatology. “The Spa offers guests an escape from the rigors of the day-to-day by focusing on inner and outer wellness.” Glazer is joined at the Spa by Dr. Michael Loosemore, a board-certified physician with nearly 10 years of experience in dermatology and dermatologic surgery; aesthetic nurse specialist Mary Jo Devlin; aesthetic supervisor Laurie Circosta; and clinical operations manager Shannon Page. The Spa’s full menu of services include customized clinical skin care, massage and body treatments, facials, manicures, pedicures, makeup, and waxing. Also available are laser treatments including hair removal and fine-line treatment, and medical esthetics like microneedling, microdermabrasion, Botox injections, dermal fillers, and laser treatments. The Spa provides restorative and nourishing treatments for both men and women, as well as teens. For more information, visit westfieldspa.com.

CDH Expands Pharmacy as Part of New Cancer Center

NORTHAMPTON — Cooley Dickinson Hospital recently went live with the operation of its expanded pharmacy, which is the first visible and tangible part of the Massachusetts General Cancer Center at Cooley Dickinson Hospital. “Renovations to the pharmacy are an essential underpinning to the future of cancer care at Cooley Dickinson,” said Dr. Mark Novotny, chief medical officer. An expanded pharmacy with new oncology pharmacy staff allows Cooley Dickinson to offer people living with cancer the same treatment regimens, protocols, and safety for chemotherapy and radiation that Mass General Cancer Center physicians use. “This is about getting Mass General Cancer Center quality at Cooley Dickinson Hospital,” said Dr. Sean Mullally, medical oncologist and medical director of the CDH cancer center. In addition, the oversight of the Massachusetts General Hospital Cancer Center means people newly diagnosed or living with cancer no longer need to decide if they should go to Boston for care. “They can come here, and their team will help them decide what care they should receive and where,” Novotny said. The renovated pharmacy includes a new sterile-preparation space with separate rooms for chemotherapy and intravenous compounding. Chemotherapy is drug treatment given in pill, injection, and intravenous forms to kill cancer cells. The sterile-prep area has positive air pressure and hoods that filter air to prevent possible contamination while preparing the drugs. The chemotherapy prep area has negative air pressure to reduce the risk of chemotherapy exposure and specialized chemotherapy hoods that filter air to prevent contamination and preserve negative pressure to protect staff. Improved storage, more automation, and fail-safe technologies reduce the risks of introducing errors when dispensing medications from the pharmacy. Chemotherapy regimens will be reviewed and approved by on-site oncology clinical pharmacists and prepared by chemotherapy pharmacy technicians dedicated to the cancer center. The renovations to the pharmacy were needed to provide the right chemotherapy hoods, space, sterile prep areas, and ventilation for mixing chemotherapy according to best practices. In addition, the renovations and expanded space increase the standard of care for all Cooley Dickinson patients with an increased focus on quality and safety.

Springfield College Program Recognized by National Organization
SPRINGFIELD — The Springfield College Strength and Conditioning Graduate Program has again received acceptance into the National Strength and Conditioning Assoc. (NSCA) Education Recognition Program (ERP) for the next three years. “The graduate strength and conditioning program provides challenging academic coursework combined with internship opportunities that in many instances lead to student employment,” said Tracey Matthews, dean of the School of Health, Physical Education, and Recreation. “Dr. Brian Thompson has built a stellar program, and this achievement is evidence of the commitment and passion our faculty place in our graduate programs. We are extremely proud of this recognition. This further affirms the strength of our program.” A new benefit of having ERP acceptance will be the opportunity for Springfield College to host an Exam Prep Live Clinic providing students a comprehensive review of information most relevant to the certified strength and conditioning specialist (CSCS) and the national strength and condition association-certified personal trainer (NSCA-CPT) exams. As a NSCA Exam Prep Live Clinic host school, Springfield College students would be able to take advantage of a discounted rate when registering for the exam, as well as discounted rates on all CSCS and NSCA-CPT exams. Additional benefits for the college resulting from the ERP acceptance include a strong presence on the NSCA’s official website, a listing in the NSCA membership newsletter that is distributed to professional and associate members, and the opportunity for the college to receive up to three complimentary career postings on the nsca.com career-resources page for the three-year period. The Springfield College Strength and Conditioning Graduate Program prepares students to work with athletes as strength and conditioning coaches in secondary-school, collegiate, professional, and private settings. Students develop the skills and knowledge needed to design physiologically sound programs that enhance athletic performance, as well as the coaching skills needed to implement the programs.

Country Nissan Wins DealerRater Consumer Satisfaction Award

HADLEY — Country Nissan has been awarded a 2015 DealerRater Consumer Satisfaction Award, a recognition auto dealerships can earn by delivering outstanding customer service as rated by online consumer reviews. DealerRater, the car-dealer review site for consumers, created the Consumer Satisfaction Awards to enable online car shoppers to instantly spot car dealerships that provide high-quality customer service. Country Nissan has achieved consistently high marks on the DealerRater website, placing it among the top dealerships nationwide. Online shoppers visiting Country Nissan’s dealer review page on DealerRater.com will find a “2015 Consumer Satisfaction Award winner” designation.

Renaissance Advisory Services Moves to Ludlow
LUDLOW — Renaissance Advisory Services, LLC announced its expansion and relocation to Ludlow. A ribbon-cutting ceremony was held recently with staff members, invited guests, and representatives of the East of the River 5 Town Chamber of Commerce in attendance. State Rep. Thomas Petrolati (D-Ludlow) performed the ceremony. According to managing director Werner Maiwald, Ludlow was selected due to the convenient access to current clients. Renaissance Advisory Services, LLC is a fully independent financial-advisory firm that works with individual and corporate clients. The firm offers portfolio services such as 401(k), IRA, personal retirement, and distribution-planning services. It also offers gas and oil syndication, fixed income accounts, corporate buy/sell, corporate executive insurance, high-income disability planning, long-term care planning, and charitable giving plans. The firm consists of two primary advisors, Werner Maiwald and Michael Hurst, who have a total of 65 years combined experience. The firm is presently seeking a third advisor. Gail Sherman, past president for the Greater Chicopee Chamber of Commerce, is the executive marketing director; Christine Maiwald serves as corporate administrator; and AnnMarie Gaudette is the receptionist. “We are unique because we are long-term advisors; we are not day traders,” said Maiwald. “We only bring on a limited number of new clients each year, which allows us to fulfill our investment philosophy and maximize our service capabilities. The financial well-being of our clients is our ultimate goal.” For more information, visit www.renadvisorysvcs.com.

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