{"id":151587,"date":"2024-05-22T16:30:57","date_gmt":"2024-05-22T15:30:57","guid":{"rendered":"https:\/\/www.reinsurancene.ws\/?p=151587"},"modified":"2024-05-22T15:59:34","modified_gmt":"2024-05-22T14:59:34","slug":"martello-re-reportedly-targeting-around-800m-of-new-equity","status":"publish","type":"post","link":"https:\/\/www.reinsurancene.ws\/martello-re-reportedly-targeting-around-800m-of-new-equity\/","title":{"rendered":"Martello Re reportedly targeting around $800m of new equity"},"content":{"rendered":"

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.<\/p>\n

\"martello-re-logo\"Citing people with knowledge of the matter, Bloomberg’s report noted that Martello Re has commitments from new and existing investors.<\/p>\n

Of course, a transaction hasn\u2019t been finalised, and the capital raise is subject to change.<\/p>\n

Martello Re was launched in January 2022<\/a> with the backing of Massachusetts Mutual Life Insurance Company, Centerbridge Partners, and Brown Brothers Harriman.<\/p>\n

Also backing Martello Re at launch was a pre-eminent group of institutional investors and family offices, including Hudson Structured Capital Management.<\/p>

\"Artemis<\/a><\/div><\/div>\n

The firm came to market with an initial equity of $1.65 billion, intending to offer a differentiated value proposition to its clients.<\/p>\n

In March of 2022, Martello Re completed its first reinsurance transaction<\/a> covering $14 billion of inforce fixed annuity and fixed indexed annuity policies issued by a MassMutual subsidiary.<\/p>\n

In June of 2023, the firm announced the appointment of Michael Baumstein as Chief Investment Officer and Chief Financial Officer<\/a>, with Virginia Perinelli and Alana Rathbun both receiving promotions.<\/p>\n

A month later, Eric Lloyd joined Martello Re\u2019s Board of Directors<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019t been finalised, and the […]<\/p>\n","protected":false},"author":18,"featured_media":94821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[2706],"class_list":["post-151587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-martello-re"],"acf":[],"yoast_head":"\nMartello 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