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Massachusetts AG investigating ousted MassMutual CEO.(PEOPLE)(Brief Article)
- Article from:
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National Underwriter Life & Health
- Article date:
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June 20, 2005
- Author:
- Tuckey, Steve
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Copyright informationCOPYRIGHT 2005 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MASSACHUSETTS ATTORNEY General Tom Reilly said he is investigating ousted MassMutual Chief Executive Officer Robert O'Connell on "serious allegations of wrongdoing."
In a prepared statement, Reilly said he was contacted by representatives of the Springfield-based insurer last week. "We conducted a preliminary review of documents they provided and met ... with representatives of the company."
O'Connell was dismissed June 2 by the board after serving 7 years as CEO of the company.
Meanwhile, the company also is undergoing its periodic financial examination by the Massachusetts Department of Insurance.
"The primary objective of the examination is solvency issues, ...