2019 DEC 10 (NewsRx) -- By a
This transaction furthers AIG’s and Carlyle’s efforts to stand up Fortitude Re as an independent company and position it as a premier provider of retroactive reinsurance and legacy run-off management solutions for long-dated, complex risks to the global insurance industry. The transaction will enhance Carlyle’s ability to support Fortitude Re’s growth plans, provide Fortitude Re access to Carlyle’s wide array of investment strategies and position it for long-term success. T&D brings additional industry and international expertise to develop Fortitude Re’s strategically differentiated capabilities. With the backing of Carlyle, T&D and AIG, Fortitude Re will pursue global opportunities to successfully acquire and manage legacy insurance portfolios.
The transaction is expected to close in mid-2020, subject to required regulatory approvals and other customary closing conditions.
Citi served as financial advisor and Nishimura &
Additional information about Fortitude Re is available on its website at https://www.fortitude-re.com/.
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