No. 6 for No. 6

George Willard Smith last week decided to heed his own actuarial tables: at 66, he moved from the presidency into the board chairmanship of the New England Mutual Life Insurance Co. Into the presidency went affable, sandy-haired O. (for Oscar) Kelley Anderson, 43, onetime Iowa farm boy and longtime crack investment man.

There have been only five other presidents of 107-year-old New England Mutual, the sixth biggest U.S. mutual life insurance company among those selling only "ordinary" life policies.* Although New England was the first mutual insurance company chartered in the U.S., the Mutual Life Insurance Co. of New York,...

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