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Fortitude Reinsurance

Acquires and manages legacy runoff liabilities

Overview

Fortitude Reinsurance buys and runs off legacy blocks of life, annuity, and property/casualty insurance to free up capital for its clients. It takes on the liabilities and assets backing those policies, then manages them over time to generate investment income and efficiently run off the liabilities. Compared with peers, it leverages a Bermuda-heavy presence, strong financial backing from investors like The Carlyle Group and T&D Holdings, and a focus on capital management and long-term risk control. Its goal is to help insurers redeploy capital while protecting policyholders and expanding its position in the reinsurance market.

Significant Headcount Growth

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About Fortitude Reinsurance

Simplify's Rating
Why Fortitude Reinsurance is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Quantitative FinanceFinancial Services

Company Size

501-1,000

Company Stage

Growth Equity (Non-Venture Capital)

Total Funding

$2.1B

Headquarters

Hamilton, Bermuda

Founded

2017

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Simplify's take

What believers are saying

  • AM Best revised Fortitude's outlook to stable on July 22, 2026.
  • Fortitude's Asian expansion vehicle FCA Re secured over $700 million deployable capital.
  • The company keeps landing large institutional block deals, strengthening fee income and scale.

What critics are saying

  • AM Best says the Unum deal pressures Bermuda excess liquidity and regulatory capital near term.
  • Fortitude's value depends on executing complex runoff pricing across long-dated liabilities.
  • A severe longevity or asset-liability mismatch shock could overwhelm spread returns and impair solvency.

What makes Fortitude Reinsurance unique

  • Fortitude Re closed Unum's $3.8 billion LTC block on November 4, 2026.
  • It retroceded 100% of biometric risk, keeping spread-based economics and capital efficiency.
  • Dayforward's September 28, 2026 acquisition adds digital annuity distribution and policy administration.

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Funding

Total Funding

$2.1B

Above

Industry Average

Funded Over

1 Rounds

Growth Equity Non VC funding comparison data is currently unavailable. We're working to provide this information soon!
Growth Equity Non VC Funding Comparison Coming Soon

Benefits

  • Hybrid Work Options
  • Performance Bonus

Growth & Insights and Company News

6 month growth

0%

1 year growth

5%

2 year growth

5%
Associated Press
Nov 3rd, 2026
Unum closes $3.8B long-term care reinsurance deal with Fortitude Re

Unum Group has closed a reinsurance deal with Fortitude Reinsurance Company Ltd. (Fortitude Re) covering about 50,000 individual long-term care (LTC) policies. The block carries $3.8 billion of statutory reserves and about $4.5 billion of best estimate reserves. Fortitude Re will pass biometric risk to a highly rated global reinsurer. Unum will keep servicing and administering the business. The deal follows a 2025 LTC reinsurance transaction. Together, the two have cut Unum's closed block by more than $7 billion of LTC statutory reserves. Unum's remaining LTC block is mostly group policies, which generally have more basic benefits. Debevoise & Plimpton LLP advised Unum.

Business News This Week
Sep 28th, 2026
Fortitude Re acquires Dayforward to broaden capabilities.

Fortitude Re acquires Dayforward to broaden capabilities. HAMILTON, Bermuda, Sept 28 -FGH Parent, L.P., (together with its subsidiaries, "Fortitude Re") today announced its acquisition of substantially all of the assets of Dayforward Inc. ("Dayforward"), a digitally native insurance technology company, through a newly formed entity that will be renamed Fortitude Life. Dayforward's proprietary end-to-end platform is designed to support annuity distribution partners. The acquisition advances Fortitude Re's long-term strategy to build capabilities that support clients across a broad range of insurance channels with competitive pricing and world-class service. Founded in 2020, Dayforward has built an integrated platform that supports the full policy lifecycle, including agent onboarding, application processing, policy issuance, commission payments and in-force servicing. The transaction includes Dayforward's technology platform, distribution agreements, intellectual property, licensed insurance agency and employees. It does not include Dayforward's insurance entities or the legacy policies and liabilities associated with them. The newly formed entity will operate as a subsidiary of Fortitude Re, with Dayforward's team continuing to lead the business with the benefit of Fortitude Re's resources and capabilities. Business Networking Events "The Dayforward team has built a set of technology capabilities that perfectly complement our underwriting, ALM and investment expertise," said Alon Neches, CEO, Fortitude Re. "Partnering with Dayforward strengthens our ability to originate and manage business in new ways while preserving the disciplined approach that has guided Fortitude Re's growth. We look forward to combining Dayforward's entrepreneurial energy and digital capabilities with Fortitude Re's capital strength and insurance expertise." Discover more Follow Federal Policy Try Operations Software "We founded Dayforward to modernize how annuities are issued, administered and delivered to consumers," said Aaron Shapiro, CEO, Dayforward. "Joining Fortitude Re gives us the capital foundation and institutional expertise to scale that vision at a pace we could not have achieved on our own. Fortitude Re's approach to risk management and its long-term commitment to policyholders align closely with how we have built this business, and we look forward to building on that shared foundation together." The acquisition broadens Fortitude Re's capabilities across insurance technology, distribution and policy administration. These capabilities are grounded in the same discipline and expertise that underpin Fortitude Re's core reinsurance business, reinforcing the company's enduring commitment to its institutional reinsurance clients as it extends innovative, tailored solutions to a broader range of clients, partners and policyholders. Business Networking Events

Business Wire
Sep 28th, 2026
Fortitude Re acquires insurance tech firm Dayforward to expand digital distribution capabilities

Fortitude Re has acquired substantially all assets of Dayforward, a digitally native insurance technology company founded in 2020. The acquisition includes Dayforward's technology platform, distribution agreements, intellectual property, licensed insurance agency, and employees, but excludes its insurance entities and legacy policies. Dayforward's integrated platform supports the full annuity policy lifecycle, from agent onboarding through in-force servicing. The newly formed entity, to be renamed Fortitude Life, will operate as a Fortitude Re subsidiary, with Dayforward's team continuing to lead operations. The acquisition advances Fortitude Re's strategy to broaden its capabilities across insurance technology, distribution, and policy administration. Fortitude Re is a global reinsurer with over $100 billion in reserves, backed by investors including Carlyle and T&D Insurance Group. Willkie Farr & Gallagher served as legal adviser to Fortitude Re.

Advertisement Shout
Sep 6th, 2026
Brian Lewis named Chief Financial Officer of Aspida Life Re.

Brian Lewis named Chief Financial Officer of Aspida Life Re. Aspida Holdings, a provider of retirement and reinsurance solutions, has announced the appointment of Brian Lewis as Chief Financial Officer of Aspida Life Re. In his new position, Lewis will leverage his 13 years of leadership experience across reinsurance finance, capital management, and regulatory reporting, to oversee the financial operations of Aspida Re, a Bermuda-based reinsurance platform. His responsibilities include financial planning and analysis, reporting, capital management, and strategic financial initiatives designed to advance Aspida Re's long-term growth targets, heading the Bermuda finance team. "Brian brings an exceptional combination of technical expertise, strategic perspective, and deep knowledge of the Bermuda reinsurance market," said David Florian, Chief Executive Officer of Aspida Re. "His experience leading finance organisations through growth and transformation makes him an outstanding addition to our leadership team as we continue expanding our global platform." Lewis comes to Aspida after serving as Finance Chief of Staff at Fortitude Re. In that role, he spearheaded finance transformation strategies, counselled executive leadership on key priorities, and managed cross-functional initiatives across technology, actuarial, and finance functions. Prior to that, as Vice President of Strategic Finance, he headed financial due diligence for reinsurance deals and acquisitions, created enterprise-wide capital planning models, and guided executive decisions with integrated long-term financial forecasts. Earlier in his career, the executive spent several years with PricewaterhouseCoopers, serving insurance, reinsurance, and investment clients in both Bermuda and the United States. Lewis commented: "I'm excited to join Aspida Re at such an exciting point in the company's growth. Aspida Re has built a strong reputation for innovation, disciplined execution, and delivering long-term value. I look forward to working alongside the talented team in Bermuda and across the organisation to help support the next phase of the company's continued success." The post Brian Lewis named Chief Financial Officer of Aspida Life Re appeared first on reinsurancene.ws. Spread the love

Fortitude Re
Jul 21st, 2026
Press releases - back to news.

Press releases - back to news. Fortitude Re Donates $20,000 to OUTBermuda to Advance LGBTQ+ Inclusion and Bermuda Pride PUBLISHED ON HAMILTON, Bermuda - July 7, 2026 - Fortitude Re today announced a $20,000 donation to OUTBermuda through its Fortitude Re 4 Good community partnership program, reaffirming the company's longstanding commitment to inclusion and its continued support of Bermuda Pride. The contribution includes Fortitude Re's annual Rainbow sponsorship of Bermuda Pride, as well as support for OUTBermuda's educational programming and advocacy initiatives throughout the year. The partnership is supported by Fortitude Re's PRIDE Employee Resource Group, which helps advance inclusion and belonging within the company while strengthening engagement with Bermuda's LGBTQ+ community. As part of its commitment to the organization, Fortitude Re employees volunteered at the Bermuda Pride Parade held on July 4, where the company hosted a community tent providing water, cooling fans and other resources for parade participants and attendees. "At Fortitude Re, we believe strong communities are built through inclusion, education, advocacy and the commitment to ensure every person feels seen and supported," said Alon Neches, Chief Executive Officer of Fortitude Re. "OUTBermuda's work reflects many of the same principles that guide our commitment to the communities where we live and work. We are honored to support OUTBermuda's mission and the positive impact the organization continues to make across Bermuda." "We are deeply grateful to Fortitude Re for once again standing with the LGBTQ+ community through their generous sponsorship of Bermuda Pride," said Joshua Samuels, Executive Director of OUTBermuda. "Pride creates vital space for LGBTQ+ people in Bermuda to feel seen, valued, safe, and celebrated, and this support also helps fund OUTBermuda's year-round programmes, advocacy, and community work. Fortitude Re's consistent support, year after year, reflects the values they bring to their workplace and sends an important message about the kind of inclusive Bermuda we can build together." Fortitude Re's support of OUTBermuda reflects the company's broader commitment to strengthening the communities in which its employees live and work. Through the Fortitude Re 4 Good program, the company partners with organizations that create meaningful, lasting impact through initiatives focused on education, inclusion, wellbeing and community engagement. About Fortitude Re Fortitude Re refers to FGH Parent, L.P. and its subsidiaries. Fortitude Re is a leading global reinsurer with more than $100 billion in reserves. Backed by world-class investors, including Carlyle and T&D Insurance Group, Fortitude Re combines deep expertise, disciplined execution, and a strong capital base to help clients navigate significant risk and capital challenges. Powered by a people-first culture that attracts, develops, and retains top industry talent, the company delivers innovative, tailored solutions that create lasting value for clients, partners, and policyholders. For more information, visit fortitude-re.com and follow Fortitude Re on LinkedIn. About OUTBermuda OUTBermuda is Bermuda's only charity dedicated to LGBTQ+ people. The organization is working toward creating a Bermuda where LGBTQ+ people are seen, valued and supported. Through advocacy, education, community programs and partnerships, OUTBermuda promotes the wellbeing, dignity, safety and inclusion of Bermuda's LGBTQ+ community. For more information, visit outbermuda.org. Media Contact: Isabela Shay 860-510-1921

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