For the first time since 1982 when economic
conditions in Oklahoma started to deteriorate, The Wilson Financial
Group of Oklahoma City had the national leaders in sales and
commissions among all Massachusetts Mutual Life Insurance Co.
agencies in 1987.
Leadership displayed by the Oklahoma City agency among all
Massachusetts Mutual firms nationwide offers some positive signs
that Oklahoma is emerging from the doldrums, said J. Hawley Wilson,
owner and president of The Wilson Financial Group.
The insurance agency's two leaders, Clayton B. Healey and John
E. "Buddy" Leake Jr., also contributed to an all-time production
record for the agency in new commissions and earnings last year,
Over $6 million was paid in new premiums for individual policies
in 1987, up 140 percent from $2.5 million in 1986. Over $2 million
was paid in new group insurance premiums, up from $1.5 million in
1986, according to Bill Fleming, administrative general agent.
The number of policies for individual insurance plans totaled
2,222, up 41.8 percent from 1,567 in 1986. The association sold 25
more group plans in 1987 than in 1986.
The volume of insurance business written during 1987 totaled
$168 million, up from $167.8 million in 1986. Total business in
force is currently $925 million in 16,000 individual polices.
"We anticipate going over $1 billion this year,"
Commission income from new business increased 32 percent in 1987
to $1.1 million from $800,000 in 1986.
"That signifies our economy is becoming more stabilized and
insurance buyers are now back in the market buying large amounts of
insurance," said Wilson.
In November, after only four years in the business, Healey
ranked first in volume, selling $10 million, among the entire
Massachusetts Mutual field force of over 4,000 agents.
Leake, a 30-year veteran in the insurance business, ranked first
in first year commissions among the 4,000 agents.
The two associates are consistently top producers within the
insurance agency. Healey's sales performance indicates that not
only the established business person is buying more insurance, but
also the "up and coming" professionals who make up most of Healey's
clientele, Wilson said.
Black Monday was a real plus to the insurance industry because
people, more than ever before, have made a significant move to find
new safe harbors for cash, Wilson said.
"Because of investment quality insurance products, we were able
to capitalize," he said.
The 80-year-old agency changed its name on Jan. 1 to reflect
expanded financial services, including securities offered through its
branch office of MML Investors Services Inc., a subsidiary of
Massachusetts Mutual. The new name is more indicative of the
direction the agency and the industry is taking.
"We changed the name to indicate to the public what we really
do," Wilson said. …