Reinsurance News
Martello Re
AM Best issues FSR and credit ratings for Martello Re
12th August 2024
AM Best, a credit rating agency, has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Martello Re Limited, an insurance and reinsurance company based in Hamilton, Bermuda, the outlook for these ratings is stable. Martello Re’s robust balance sheet strength is ... Read the full article
Martello Re eyes growth with $1.3bn capital raise
23rd July 2024
Martello Re Limited, the Bermuda-based Class E life and annuity reinsurer, has successfully raised $1.3 billion across a second round of equity funding and the upsizing of its current credit facility, enabling the firm to provide support to additional cedants and selectively expand into new lines and regions. It was ... Read the full article
Martello Re reportedly targeting around $800m of new equity
22nd May 2024
Bermuda-domiciled life and annuity reinsurance company Martello Re is deliberating on raising at least $800 million of new equity, as per a new report from Bloomberg. Citing people with knowledge of the matter, Bloomberg's report noted that Martello Re has commitments from new and existing investors. Of course, a transaction hasn’t been ... Read the full article
Eric Lloyd joins Martello Re’s Board of Directors
26th July 2023
Martello Re Limited has appointed Eric Lloyd to the company's Board of Directors, effective immediately. Lloyd replaces Michael Baumstein, who recently stepped down from the Board to join Martello Re full-time as Chief Investment Officer and Chief Financial Officer. Lloyd holds over three decades of financial services experience and currently serves ... Read the full article
Michael Baumstein joins Martello Re as CIO & CFO
6th July 2023
Martello Re has announced the appointment of Michael Baumstein as Chief Investment Officer and Chief Financial Officer, with Virginia Perinelli and Alana Rathbun receiving promotions. Baumstein holds three decades of reinsurance, banking, and private equity experience, having most recently served as Head of Private Equity & Real Assets at Barings as ... Read the full article
Martello Re completes first reinsurance transaction
1st March 2022
Recently launched Bermuda domiciled life and annuity reinsurer, Martello Re, has reportedly completed its first reinsurance transaction. The firm, which launched less than two months ago, said it had completed a transaction covering $14bn of inforce fixed annuity and fixed indexed annuity policies issued by a MassMutual subsidiary which will continue ... Read the full article
Martello Re and SFG Bermuda join BILTIR
24th January 2022
Martello Re and SFG Bermuda have joined the Bermuda International Long-Term Insurers and Reinsurers (BILTIR). The two companies entering BILTIR will reportedly bump the association’s total number of members up to 64, up from the five it began with in 2011. Martin Laframboise, executive director of BILTIR said he was pleased to ... Read the full article
Martello Re launched as $1.65bn life and annuity reinsurer
12th January 2022
A new Bermuda domiciled life and annuity reinsurance company has been launched with the backing of Massachusetts Mutual Life Insurance Company, Centerbridge Partners, Brown Brothers Harriman, and a pre-eminent group of institutional investors and family offices, including Hudson Structured Capital Management, called Martello Re Limited. Martello Re is a licensed Class ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
