Fortitude Reinsurance
Fortitude Re is Bermuda’s largest multi-line reinsurance company with deep expertise in executing bespoke transactional solutions for legacy Life & Annuity and P&C lines.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $2.1b | Growth Equity non VC | |
| Total Funding | 000k | ||
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A reinsurance company specializing in managing and acquiring runoff life, annuity, and property and casualty (P&C) insurance blocks. The company's primary focus is on freeing up capital for its clients and ensuring long-term policyholder protection. By taking on legacy insurance portfolios, the company allows original insurers to focus on their core business activities.
The business model centers on the acquisition and management of legacy insurance liabilities. This involves a deep understanding of risk and long-term financial management. The company generates revenue through the investment returns on the assets backing the acquired insurance reserves and by efficiently managing the runoff of these liabilities. Clients are typically other insurance companies, including Fortune 500 firms, looking to divest from non-strategic lines of business.
Operating in the global reinsurance market, the company has a significant presence in Bermuda, a major hub for the reinsurance industry. The company was previously a subsidiary of American International Group (AIG) and is now backed by a consortium of investors, including The Carlyle Group and T&D Holdings, indicating strong financial backing and a strategic focus on growth in the reinsurance space.
Keywords: Reinsurance, runoff liabilities, legacy insurance, life and annuity, property and casualty, capital management, policyholder protection, asset management, risk management, financial services.