A MESSAGE FROM

Paul A. Quaranto, Jr., MBA, LLIF

Chairman, Chief Executive Officer and President

Read the Letter Watch the Video

WORKING TOGETHER, GROWING TOGETHER

As a unified team we’re committed to making a difference

Hear From Your Team

Standing Behind The People We Serve

JHENNIFER RECEIVES THANKS FROM MARY O., BENEFICIARY

You were wonderful to me. You went over and above to service me. I sincerely want to thank you for all your hard work you did.

REBECCA RECEIVES THANKS FROM ELIZABETH O., POLICYHOLDER

I want to take this moment and thank you very much for your time and support.

LORETTA RECEIVES THANKS FROM MATT O., PRODUCER

I wanted to personally thank you for your expediency in processing this claim, and the devoted attention you gave to this important member’s family. Thank you again for all your help... it’s greatly appreciated and displayed our respective companies in a helpful, positive light.

AMADA RECEIVES THANKS FROM RAMON P., POLICYHOLDER

I am delighted to contact you for the purpose of expressing my gratitude for the wonderful service I have received from your representative Amada. She has continuously gone above and beyond to assist and inform me. She exemplifies how insurance services should optimally be handled and contributes to the success and reputation of your company. Again, I am truly grateful for all the assistance she has provided making this hard time more manageable.

Boston Mutual Board of Directors

  • Paul A. Quaranto, Jr., MBA, LLIF

    Chairman, Chief Executive Officer & President

  • John J. Cook, Jr.

    Managing Director (Retired)

    Seaward Management

  • John M. Cornish, Esq.

    Partner

    Choate, Hall & Stewart, LLP

  • Henry T. Goldman, Esq.

    Principal

    Law Office of Henry T. Goldman

  • Aurilee A. Hawley

    Museum Director (Retired)

    Isabella Stewart Gardner Museum

  • Thomas M. Joyce, Jr., Esq.

    President

    Joyce and Joyce

  • Austin T. Lydon

    Partner (Retired)

    Deloitte & Touche

  • Paul E. Petry, FSA, CLU

    Chairman (Retired)

    Boston Mutual Life Ins. Co

  • Richard P. Quincy

    President

    Quincy & Company

Boston Mutual Officers

  • Paul A. Quaranto, Jr., MBA, LLIF

    Chairman, Chief Executive Officer & President

  • Nicholas K. Barishian, LLIF

    2nd Vice President & Head of General Agencies

  • Peter S. Connolly, MD

    Medical Director

  • Christine T. Coughlin, CPA, LLIF, MST

    2nd Vice President & Treasurer

  • Stephen G. Evans, FLMI

    2nd Vice President & Auditor

  • John R. Flores, Esq.

    Vice President - General Counsel & Secretary

  • Susan J. Gardner, CPA

    2nd Vice President & Controller

  • Linda M. Izzo, SPHR, SHRM-SCP

    Vice President – Human Resources & Insurance Operations

  • Clifford A. Lange, CLU, FSA, LLIF

    Vice President – Chief Financial Officer, Chief Actuary & Chief Risk Officer

  • Charles R. Mabry

    Vice President – Workplace Solutions

  • David C. Mitchell, CLU, MSI

    Vice President – Strategic Planning & Communications

  • Howard V. Neff, Jr.

    Senior Vice President & Chief Investment Officer

  • Paul S. Painchaud, ASA, MAAA

    2nd Vice President & Appointed Actuary

  • Joseph W. Sullivan, Esq.

    Vice President – Chief Underwriting & Product Officer

  • Mary T. Tillson, ALHC, FLMI, MHP

    Vice President – Claim Services & Product Support

  • Grant D. Ward, Esq.

    2nd Vice President & Chief Compliance Officer

2016 Financials

Dollars in Thousands INCOME

Year Ended December 31
2016 2015
Premium income $188,077 $185,692
Net investment income 55,650 54,568
Other income 13,020 12,903
TOTAL INCOME 256,747 253,163
POLICYHOLDER BENEFITS AND EXPENSES
Life insurance benefits 66,072 67,383
Accident & health benefits 15,475 15,006
Other policy benefits 35,051 36,300
Increase in reserves 36,742 30,281
Commissions 34,125 34,071
General expenses 43,538 43,573
Taxes other than federal income taxes 7,318 7,312
Dividends to policyholders 1,522 1,488
TOTAL BENEFITS & EXPENSES 239,843 235,414
GAIN FROM OPERATIONS $16,904 $17,749

Dollars in Thousands LIABILITIES

Year Ended December 31
2016 2015
Policy reserves $1,053,271 $1,017,579
Policy & contract claims 17,047 15,924
Deposit-type contracts 16,426 16,398
Other policyholder funds 3,886 3,296
Other liabilities 60,772 70,431
Interest maintenance reserve (IMR) 17,930 3,964
Asset valuation reserve 12,386 10,406
TOTAL LIABILITIES 1,181,718 1,137,998
SURPLUS 177,994 159,091
TOTAL LIABILITIES & SURPLUS $1,359,712 $1,297,089

Dollars in Millions Assets

  • 1,500
  • 1,250
  • 1,000
  • 750
  • 500
  • 2012
  • 2013
  • 2014
  • 2015
  • 2016

Dollars in Thousands ASSETS

Year Ended December 31
2016 2015
Bonds $807,936 $781,310
Preferred stocks 0 0
Common stocks 65,125 56,576
Mortgage loans 183,155 165,444
Real estate 8,695 8,531
Policy loans 154,407 148,162
Cash & short term securities 5,770 8,112
Premiums deferred and uncollected 45,612 45,101
Other assets 89,012 83,853
TOTAL ADMITTED ASSETS $1,359,712 $1,297,089
  • Dollars in Thousands INCOME

    Year Ended December 31
    2016 2015
    Premium income $188,077 $185,692
    Net investment income 55,650 54,568
    Other income 13,020 12,903
    TOTAL INCOME 256,747 253,163
    POLICYHOLDER BENEFITS AND EXPENSES
    Life insurance benefits 66,072 67,383
    Accident & health benefits 15,475 15,006
    Other policy benefits 35,051 36,300
    Increase in reserves 36,742 30,281
    Commissions 34,125 34,071
    General expenses 43,538 43,573
    Taxes other than federal income taxes 7,318 7,312
    Dividends to policyholders 1,522 1,488
    TOTAL BENEFITS & EXPENSES 239,843 235,414
    GAIN FROM OPERATIONS $16,904 $17,749
  • Dollars in Thousands LIABILITIES

    Year Ended December 31
    2016 2015
    Policy reserves $1,053,271 $1,017,579
    Policy & contract claims 17,047 15,924
    Deposit-type contracts 16,426 16,398
    Other policyholder funds 3,886 3,296
    Other liabilities 60,772 70,431
    Interest maintenance reserve (IMR) 17,930 3,964
    Asset valuation reserve 12,386 10,406
    TOTAL LIABILITIES 1,181,718 1,137,998
    SURPLUS 177,994 159,091
    TOTAL LIABILITIES & SURPLUS $1,359,712 $1,297,089
  • Dollars in Millions Assets

    • 1,500
    • 1,250
    • 1,000
    • 750
    • 500
    • 2012
    • 2013
    • 2014
    • 2015
    • 2016
  • Dollars in Thousands ASSETS

    Year Ended December 31
    2016 2015
    Bonds $807,936 $781,310
    Preferred stocks 0 0
    Common stocks 65,125 56,576
    Mortgage loans 183,155 165,444
    Real estate 8,695 8,531
    Policy loans 154,407 148,162
    Cash & short term securities 5,770 8,112
    Premiums deferred and uncollected 45,612 45,101
    Other assets 89,012 83,853
    TOTAL ADMITTED ASSETS $1,359,712 $1,297,089
Download 2016 Financial Report

Looking Ahead

  • Growth

    With the expertise and commitment of the people behind us, Boston Mutual will continue to grow and prosper, building a better future for our policyholders, producers, and employees.

  • Innovation

    Through exploring new technology enhancements, adapting our processes, and listening carefully to the marketplace and producers, we’ll continue to find better ways to serve our policyholders.

  • Confidence

    Our commitment to the security of every family we support keeps us focused and united. Together, our future is brighter than ever.