As part of its strategy to deliver solutions in the expanding defined benefit (DB) pension transfer market, MassMutual has appointed Lynn Esenwine as vice president of its pension buyout business.
Esenwine takes on responsibility for market and business development across the pension risk transfer spectrum. Her role covers adviser 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.
MassMutual, like other insurance product providers, says the stage is still set nicely for increased pension risk transfer activity, so the firm will “look to capitalize on the growth.” Esenwine’s appointment comes as MassMutual is also “seeing increased interest from advisers whose clients are seeking ways to reduce their long-term pension risks and costs,” McDonagh adds.
Esenwine has 14 years’ experience in the retirement plan industry and joined MassMutual from Prudential Retirement, where she served as a vice president within the institutional pension risk transfer business line. 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 B.S. from Pennsylvania State University and an M.B.A. from the University of Connecticut.