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.
Sidley Austin LLP and Mori Hamada & Matsumoto served as legal counsel to Fortitude Re.
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.”
In October 2022, Fortitude Re announced the signing of another flow reinsurance transaction with a leading Japanese life insurance company.
At the time, Neches said, “We are very pleased to continue supporting marquee clients in the Japanese insurance industry by providing strategic reinsurance capacity that helps our partners achieve their risk, capital and growth aspirations.
“We see meaningful growth opportunities in the region and are committed to delivering thoughtful solutions tailored to our clients, their products and their markets.”
Neches was appointed CEO by Fortitude Re’s Board of Directors in September 2022, taking over from James Bracken who stepped down to pursue other opportunities.
In November, The firm appointed Denise Nichols as Chief Human Resources Officer.
