Connecticut Mutual, Massmutual Talk Merger

HARTFORD, Conn. - Massachusetts Mutual Life Insurance and Connecticut Mutual Life Insurance, two old-line companies with headquarters just 25 miles apart, are pursuing a merger, the companies announced yesterday.

The combined enterprise would have assets of $78 billion under management and be the fifth largest mutual life insurance company in the country in terms of total capital and assets.

MassMutual, which is based in Springfield, Mass., is the bigger of the two companies. Founded in 1851, it has $65.7 billion in assets under management.

Connecticut Mutual, which was founded in 1846, has assets of $12.8 billion and life insurance in force of $87 billion.