Reinsurance News
The Carlyle Group
Fortitude Re/Carlyle Asia reinsurance sidecar launches with $700m+ in capital
22nd October 2025
Fortitude Carlyle Asia Reinsurance, Ltd. (FCA Re), Fortitude Re’s and Carlyle’s recently launched Asia focused reinsurance sidecar, is commencing operations with more than $700 million in deployable capital, including equity and expected debt capacity. The sidecar is a Class E licensed Bermuda-domiciled reinsurer established to accelerate Fortitude Re’s growth in the ... Read the full article
T&D Holdings invests in new Fortitude Re and Carlyle reinsurance sidecar
21st October 2025
T&D Holdings, through its wholly owned subsidiary T&D United Capital Co., Ltd. (TDUC), has announced that it is investing in a new reinsurance sidecar vehicle facilitated by a limited partnership. TDUC has committed up to $250 million (approx. JPY 37.5billion, USD 1 = JPY150.00) to the limited partnership, Carlyle FCA Re, ... Read the full article
London’s Pension Insurance Corp reportedly a target for large private equity firms
15th December 2023
The Financial Times has reported that Apollo, Carlyle, and KKR are all exploring bids for London-based Pension Insurance Corporation (PIC) ahead of the deadline, citing people familiar with the matter. Earlier this year, PIC announced a record £6.5 billion UK pension buy-in deal with the RSA UK Pension Trustees. It's ... Read the full article
Carlyle targets role in pension risk transfer market
5th December 2023
As per a new report from Bloomberg, Carlyle Group Inc. is investigating a potential role in the pension risk transfer market, with particular interest in the UK. Bloomberg noted that with workers living longer and markets in flux, employers worldwide are trying to get traditional pensions off their books, with many ... Read the full article
White Mountains completes sale of NSM to Carlyle
2nd August 2022
White Mountains Insurance Group, Ltd. (White Mountains) has completed the sale of NSM Insurance Group to investment funds affiliated with global investment firm, Carlyle. The transaction, originally announced in May, values NSM at $1.775 billion. Additionally, it was previously reported that White Mountains expects the transaction will result in a gain ... Read the full article
White Mountains to sell NSM Insurance Group to Carlyle
9th May 2022
White Mountains Insurance Group (White Mountains) has announced that it has signed a definitive agreement to sell NSM Insurance Group (NSM) to investment funds affiliated with global investment firm, Carlyle. The transaction values NSM at $1.775 billion. In a press release, it says that White Mountains expects the transaction will result in ... Read the full article
Fortitude Re gets investment boost from owners, strikes advisory deal
31st March 2022
Fortitude Re is set to receive a capital contribution of $525 million from its minority shareholder, T&D Holdings, while also having struck a new advisory agreement with its largest shareholder, Carlyle Group. T&D and Carlyle, which own 25.0% and 71.5% of Fortitude Re, respectively, acquired their interests in the reinsurer ... Read the full article
Vantage targets US insurance growth with $200m capital injection from Carlyle and H&F
8th February 2022
Bermuda-based Vantage Group Holdings Ltd. is set to receive up to an additional $200 million of capital from funds managed by Carlyle Group and Hellman & Freidman (H&F), as the carrier looks to take advantage of opportunities in its U.S. insurance operation. Vantage was launched in December of 2020 by ... Read the full article
Fortitude Re set for growth with launch of multi-line reinsurer & U.S. platform
6th January 2022
Fortitude Re has announced the formation of a new Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer, as its subsidiary obtains Reciprocal Jurisdiction Reinsurer status. Established in 2018 by international insurer AIG and global alternative asset manager, The Carlyle Group, Fortitude Re was originally set up to ... Read the full article
Bermudian startups benefitting from clean balance sheets, lack of legacy issues: Fitch
29th January 2021
Fitch Ratings has released a report stating that Bermuda start-ups in 2020 benefited from clean balance sheets and lack of legacy issues or reserves. Analysts believe this could be particularly valuable given the uncertainty around pandemic-related claims and rising social inflation affecting the U.S. casualty business. With these benefits, Fitch sees Bermuda ... Read the full article
Oak Hill & Carlyle establish Galway Insurance Holdings
22nd June 2020
Oak Hill Capital and The Carlyle Group have announced the establishment of Galway Insurance Holdings, a new holding company. Galway Insurance launches a new diversified brokerage distribution and underwriting platform on behalf of the Private Equity owners and their respective management teams and employee stakeholders. According to an announcement, the foundation of ... Read the full article
Carlyle Group & T&D acquire majority share in Fortitude Re from AIG
3rd June 2020
The Carlyle Group and T&D Holdings have completed their previously announced acquisition of a 76.6% interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from AIG. First announced in November of last year, the deal has now closed following the receipt of regulatory approvals and customary closing conditions. Upon ... Read the full article
Carlyle Group and T&D acquire AIG’s stake in Fortitude Re for $1.8bn
26th November 2019
The Carlyle Group and T&D Holdings have partnered to acquire a 76.6% ownership interest in Fortitude Re, the run-off reinsurer launched by AIG and Carlyle in November 2018. Valued at $1.8 billion, the deal will leave Carlyle with a 71.5% stake in Fortitude Re (including the 19.9% stake it took ... Read the full article
The Carlyle Group to acquire majority stake in brokerage Hilb
30th October 2019
Global investment giant The Carlyle Group has entered into a definitive agreement to acquire a majority interest of national insurance brokerage, The Hilb Group, LLC, from Boston-based private equity firm, Abry Partners. The transaction is expected to close in the final quarter of 2019 and once completed, Hilb's existing management team ... Read the full article
Carlyle Group completes $6.7bn Sedgwick acquisition deal
2nd January 2019
Global alternative asset manager The Carlyle Group has completed its previously announced $6.7 billion deal to take a majority stake in Sedgwick, a global provider of technology-enabled risk and business solutions. Sedgwick’s current majority shareholder, KKR, will fully exit its position following the acquisition, while funds managed by Stone Point ... Read the full article
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