# Martello Re

Martello Re is an Insurance based in Hamilton, Bermuda.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Hamilton, Bermuda
- **Region:** North America
- **Address:** Hamilton, Bermuda
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** martellore.com
- **LinkedIn:** https://www.linkedin.com/company/martello-re

## Regulatory record

- **Reports private funds:** No

## About

Martello Re was formed in 2021 through a partnership between MassMutual, Centerbridge Partners, and Brown Brothers Harriman. The launch involved MassMutual ceding roughly $14 billion of liabilities to the new Bermuda-based reinsurer, immediately establishing Martello as a substantial balance-sheet operator. Dennis Ho, previously founder of Saturday Insurance, was appointed CEO, while Ellen Conlin of MassMutual assumed the role of board chair. The founding consortium also included Hudson Structured Capital Management as a co-investor in the launch financing. The firm's investment strategy leans into credit-intensive and real-asset exposures. Martello targets CLO equity tranches and ABS residual interests alongside a mortgage loan portfolio and direct US commercial real estate acquisitions through a property joint venture. This asset mix anchors the liability side with yield-generating structured products, a departure from the plain-vanilla fixed-income portfolios common among older reinsurers. The mandate covers multiple US regions and asset pools, with the firm sourcing directly rather than through intermediary platforms. Martello joined the Bermuda International Long Term Insurers and Reinsurers association in January 2022, signaling its commitment to the island's regulatory framework and long-duration liability market. The firm operates without a disclosed headcount or public AUM figure, but its starting liability block positions it among the larger Bermuda reinsurance startups of the past decade. Centerbridge's role as founding asset manager gives Martello a direct line into the private credit and special-situations markets where the New York-based firm is active. The structural differentiator is the MassMutual anchor. Unlike most startup reinsurers that build liability books organically over years, Martello launched with a multi-billion-dollar block and an established origination pipeline through Centerbridge and BBH. That architecture — a mutual insurer as liability provider, a private-markets firm as asset manager, and a Bermuda vehicle as the risk-bearing entity — blurs the line between captive reinsurance platform and independent credit investor.

## Sectors

- Insurance
- Real Estate
- Private Credit

## People

- Dennis Ho — Chief Executive Officer
- Ellen Conlin — Chairwoman of the Board

## Questions

### Who runs investment decisions at Martello Re?

Dennis Ho serves as CEO and leads the firm's overall strategy, including asset allocation. The founding structure designates Centerbridge Partners as the primary asset manager, meaning portfolio-level investment decisions — particularly in private credit and structured products — are executed through Centerbridge's investment team. MassMutual's Ellen Conlin chairs the board, providing oversight from the liability-provider side.

### How does Martello Re's launch structure differ from a typical startup reinsurer?

The firm launched in 2021 with MassMutual ceding approximately $14 billion of liabilities onto Martello's balance sheet. This is atypical: most new Bermudian reinsurers enter via smaller third-party capital raises or sidecar structures and build liability exposure gradually. Martello arrived with a full book and an established asset management relationship through Centerbridge, compressing the timeline from startup to scaled operator.

### What asset classes does Martello Re target for its general account?

The portfolio spans CLO equity, ABS residual interests, a US mortgage loan book, and direct commercial real estate equity acquired through a joint venture. The emphasis on structured credit tranches and property assets reflects a shift away from the corporate-bond-heavy allocations common among older life reinsurers.

### Who are Martello Re's founding stakeholders?

The 2021 launch consortium included Massachusetts Mutual Life Insurance Company (MassMutual) as the liability provider, Centerbridge Partners as asset manager, Brown Brothers Harriman as a founding investor, and Hudson Structured Capital Management as a co-investor in the financing round. Dennis Ho was appointed CEO at formation, and MassMutual's Ellen Conlin became board chair.

## Related profiles

- [Martel Wealth Advisors](https://altss.com/profile/martel-wealth-advisors)
- [Martha Holden Jennings Foundation](https://altss.com/profile/martha-holden-jennings-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/martello-re-limited

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