Fortitude Re Continues International Expansion Through Two Reinsurance Transactions in Japan
HAMILTON, BERMUDA--(Business Wire / Korea Newswire) April 04, 2023 -- FGH Parent, L.P (“Fortitude Re”), has announced the closing of two reinsurance transactions with leading Japanese life insurance companies. Both block reinsurance deals, executed through one of Fortitude Re’s Bermuda-based subsidiaries, Fortitude International Reinsurance Limited, are comprised of whole life insurance policies.
The cedants will continue to service and administer the reinsured policies.
Alon Neches, CEO of Fortitude Re commented, “Fortitude Re exists to serve our clients and their policyholders, and our bespoke approach translates well outside of the United States. We are pleased to announce two significant reinsurance transactions with our partners in Japan, which will continue to propel our international strategy to deliver thoughtful and tailored reinsurance solutions on a global scale.”
Sidley Austin LLP and Mori Hamada & Matsumoto served as legal counsel to Fortitude Re.
About Fortitude Re
The Fortitude Re Group manages approximately $72 billion in general and separate account insurance reserves and administers over 4.5 million insurance policies. The foundations of our business model are our exceptional insurance professionals and the support of the world’s most sophisticated insurance investors, including Carlyle and T&D Insurance Group. Our people, our capital strength and our capabilities drive strategic reinsurance solutions designed to meet our clients’ highest priority goals and to create sustainable, long-term value for our shareholders, our teammates, and the communities in which we operate. For more information visit, www.fortitude-re.com and follow Fortitude Re on LinkedIn.
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This is a news release distributed by Korea Newswire on behalf of this company.