Reinsurance News
MassMutual International LLC
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 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
American Financial closes $3.5bn anuity business sale to MassMutual
1st June 2021
American Financial Group has wrapped up the sale of its annuity businesses to MassMutual, including Great American Life Insurance Company and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company. The company has also offloaded broker-dealer affiliate, Great American Advisors, Inc., and insurance distributor, AAG ... Read the full article
AFG’s annuity business sale gets regulatory nod
21st May 2021
The Ohio Department of Insurance has approved American Financial Group’s previously-announced sale of certain annuity businesses. The deal consists of Great American Life Insurance Company and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company. MassMutuals is the acquirer and this deal is expected to close ... Read the full article
MassMutual to acquire Great American Life for $3.5bn
29th January 2021
Mutual life insurer MassMutual has announced plans to acquire Great American Life Insurance Company from American Financial Group for $3.5 billion. MassMutual will acquire the annuity business, as well as other subsidiaries and affiliated entities, which primarily offer traditional fixed and fixed indexed annuity products. The transaction is expected to close in ... Read the full article
Athene, MassMutual move to acquire American Equity for $3bn
2nd October 2020
Retirement services firm Athene and life insurer MassMutual have submitted a proposal to the board of American Equity Investment Life Holding Company to purchase all of the company's outstanding common shares for a total consideration of around $3 billion. The unsolicited proposal is currently being reviewed by American Equity's board. The proposal ... Read the full article
Empower in $3.3bn acquisition of MassMutual’s retirement plan business
9th September 2020
Empower Retirement is set to acquire the retirement plan business of mutual life insurer MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business will be supported by $1 billion of required capital when combined with Empower’s existing US business. Through ... Read the full article
MassMutual adds Prudential’s Arthur Wallace as Chief Actuary
22nd October 2019
Massachusetts Mutual Life Insurance Company (MassMutual) has appointed Arthur Wallace to succeed Elizabeth Ward in the role of Chief Actuary. Ward has been serving as both Chief Financial Officer and Chief Actuary for MassMutual since 2016 and will now continue solely as CFO. Wallace most recently served as Chief Actuary for Prudential ... Read the full article
MassMutual takes on $50mn of pension liabilities from Scripps
8th November 2018
Massachusetts Mutual Life Insurance Company (MassMutual) has agreed to take on approximately $50 million of pension plan obligations from U.S broadcasting company. E.W. Scripps. The transaction, which involves a group annuity contract, will see MassMutual assume responsibility for the pension benefits of approximately 2,000 Scripps retirees and beneficiaries. Scripps plans to fund ... Read the full article
Swiss Re partners with MassMutual’s LifeScore Labs on risk assessment algorithm
23rd March 2018
Swiss Re has announced that it will collaborate with LifeScore Labs, a subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), to support a new standards-based algorithmic risk scoring solution for the life re/insurance industry, called LifeScore360. LifeScore360 will be offered as an additional analytics option for Magnum, Swiss Re’s existing automated ... Read the full article
MassMutual International sells 85% of Japan operations to Nippon Life
8th March 2018
MassMutual International LLC, the international insurance holding company of Massachusetts Mutual Life Insurance Company, has announced a deal in which it will sell roughly 85.1% of its Japanese life insurance and wealth management affiliate to Nippon Life for US$935 million in cash. The transaction with Nippon Life, Japan’s largest life insurer, ... Read the full article
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