Martello Re completes initial reinsurance transaction with MassMutual and announces senior leadership team

HAMILTON, Bermuda, March 1, 2022 /PRNewswire/ -- Martello Re Limited ("Martello Re"), a newly-created life and annuity reinsurer, announced today that the company has completed its first reinsurance transaction less than two months after launching. The announced transaction covers $14 billion of inforce fixed annuity and fixed indexed annuity policies issued by a MassMutual subsidiary which will continue to service all the policies reinsured.

"The close of this transaction marks a strategic and innovative opportunity for MassMutual to more efficiently manage risk for the benefit of our policyowners and customers while also supporting our future growth ambitions," said Elizabeth Ward, Chief Financial Officer, MassMutual. "We look forward to working closely with Martello Re and its experienced leadership team in the years ahead."

The transaction demonstrates Martello Re's ability to provide customized solutions to help U.S. insurers achieve their strategic objectives. With the close of this transaction, Martello Re is now one of the largest and most well-capitalized life and annuity reinsurers in Bermuda.

Along with the closing of this initial transaction, Martello Re is pleased to announce the appointment of seasoned leaders in key positions across the company:

• Jeremy Coquinco joins Martello Re as Head of Investment Strategy where he will work closely with our CEO and investment managers to optimize risk-adjusted returns on our investment portfolios.
• Justin Mosbo joins Martello Re as Chief Actuary where he will be responsible for building out Martello Re's actuarial function and have oversight of pricing, valuation, asset-liability management, and capital management.
• Alana Rathbun joins Martello Re as Chief Risk Officer where she will be responsible for overall enterprise risk management, corporate governance, and regulator relations.
• Gregory Tyers joins Martello Re as Chief Financial Officer where he will oversee accounting policy, financial reporting, and treasury functions.

"This is an exciting time for Martello Re. We are pleased to close our initial transaction and thrilled to have such a talented and experienced group of leaders join our company," said Dennis Ho, CEO, Martello Re. "We look forward to continuing the buildout of our platform in support of Martello Re's mission to help insurers grow their businesses profitably and consistently, while ensuring they are well-positioned to deliver on all of their promises to policyholders." 

About Martello Re Limited
Martello Re Limited is a Bermuda-domiciled Class E life and annuity reinsurer that provides reinsurance solutions to top U.S. writers of asset-intensive life and annuity products. We offer a differentiated value proposition through customized solutions, extensive investment capabilities, and exceptional financial strength. Founded in 2022, our company was formed by a premier group of institutional investors and family offices and is backed by $1.65 billion of capital. For more information, visit www.martellore.com.

Media Contacts
Martello Re Media Relations
media@martellore.com

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SOURCE Martello Re Limited