Hyderabad, Leading US life insurer Massachusetts Mutual Life Insurance Company (MassMutual) on Monday announced the opening of its Global Capability Centre (GCC) in Hyderabad with an investment of Rs 1,000 crore.

MassMutual's investment plans are over Rs 1,000 crore in GCC based on projections, according to a statement by the Telangana government.

The GCC, the first centre for MassMutual outside of the United States, has come up on about 1,50,000 square feet leased space at Vamsiram's BSR IT SEZ in Financial.

With over 300 associates and leadership in all functional areas already on-board, MassMutual India is actively hiring for multiple roles in the areas of application development and support, cloud engineering, data science and analytics.

The new office boasts superior infrastructure and amenities. The site is positioned to attract global talent in technology, engineering, and research and development, adding to continued hiring in these areas by the company in the US.

Ravi Tangirala, the head of MassMutual India and Arthur Riel, Head of Core Technology at MassMutual interacted over a video conference with officials from the government of Telangana including information technology minister K.T. Rama Rao and Principal Secretary Jayesh Ranjan.

MassMutual engaged in multiple conversations with the government of Telangana since the leadership team first visited Hyderabad in October 2019. The company evaluated several global cities before narrowing it down to Hyderabad.

"Hyderabad has witnessed several marquee investments in the recent times, notwithstanding the prevalent pandemic. MassMutual, a 170-year-old top Fortune 500 organisation and a world leader in the insurance and finance industry choosing Hyderabad and establishing its first Global Capability Centre outside USA here is a testimony to the investor friendly policies and the value proposition the city and state of Telangana offers," said Rama Rao.

The company chose Hyderabad following a market analysis indicating a strong talent pool, favourable infrastructure and easily accessible enablement services.

"Opening a Global Capability Centre in India will help us remain on the cutting edge of technological advancement given the high-level of expertise in this market," said Ravi Tangirala.

MassMutual currently employs more than 6,000 people in the US and has been consistently ranked as one of the world's most ethical companies by the Ethisphere Institute, world's most admired companies by FORTUNE, and America's best employers for diversity by Forbes.