ENFIELD, Conn., July 9, 2015 /PRNewswire/ -- As part of its strategy to deliver solutions in the expanding defined benefit pension transfer market, MassMutual has appointed Lynn Esenwine as Vice President of its pension buyout business.
Esenwine is responsible for market and business development, advisor and key account management, product and solution design, quoting and analysis of business cases, oversight of plan support, and identifying future opportunities in the risk transfer market. She reports to Keith McDonagh, Senior Vice President and Chief Financial Officer for MassMutual Retirement Services.
"Lynn is leading this important business, as MassMutual looks to capitalize on the growth in the pension buyout market," McDonagh said. "She is responsible for ensuring the profitable growth of this business in a risk-prudent manner, and further strengthening our support of this market." Esenwine's appointment comes as MassMutual is seeing increased interest from advisors whose clients are seeking ways to reduce their long-term pension risks and costs, McDonagh said.
MassMutual is ideally positioned to take advantage of the growth within the pension transfer market, according to Esenwine. The life insurer has strong financial ratings, a long track record managing pension obligations, and solid buyout solutions.
Exceptional financial strength and deep experience in managing pensions are important factors in this market, Esenwine explained. Massachusetts Mutual Life Insurance Co., which backs the pension obligations, has among the highest financial ratings available from independent financial analysts.*
As a manager of pension plans for more than 65 years, MassMutual provides retirement plan solutions for three million Americans and has $152 billion in retirement assets under management as of Dec. 31, 2014, including both defined benefit and defined contribution retirement plans.
Esenwine, with 14 years' experience in the retirement plan industry, joined MassMutual from Prudential Retirement where she served as Vice President in Institutional Pension Risk Transfer. In that role, she delivered pension risk transfer solutions, while also developing intermediary and customer relationships.
In addition to holding several FINRA and insurance licenses, Esenwine received a BS from Pennsylvania State University and a MBA from the University of Connecticut.
For more information about MassMutual's Retirement Services Division, please contact your financial professional or call MassMutual at 1-800-874-2502, option 4.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube, Google+ and Pinterest. For information regarding MassMutual's Retirement Services Division, you may also visit massmutual.com/retire or find us on Facebook.com/RetireSMART and YouTube.com/RetireSMART.
*(A++ by A.M. Best (Superior, top category of 15; AA+ by Standard & Poor's (Very Strong, second category of 21; AA+ by Fitch Ratings (Very Strong, second category of 21); Aa2 by Moody's Investors Service (Excellent, third category of 21).
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Contact: David Potter
SOURCE MassMutual Retirement Services