HAMILTON, Bermuda--(BUSINESS WIRE)--Fortitude Reinsurance Company Ltd., (“Fortitude Re” or “the Company”) today announced that Moody’s Ratings (Moody’s) has assigned A3 Insurance Financial Strength Ratings to Fortitude Re’s three main operating companies: Fortitude Reinsurance Co. Ltd., Fortitude International Reinsurance Co. Ltd., and Fortitude Life Insurance and Annuity Co. Additionally, the global rating agency assigned a Baa2 Long-Term Issuer Rating to FGH Parent, L.P., the group’s lead holding company. The outlook on all ratings is stable.
This announcement comes on the heels of Fitch Ratings raising Fortitude Re’s Outlook to Positive from Stable, reinforcing the Company’s financial strength and future growth potential. Fitch affirmed the BBB+ Insurer Financial Strength Ratings to Fortitude Reinsurance Co. Ltd. and Fortitude Life Insurance and Annuity Co., and the BBB Issuer Default Rating to FGH Parent, L.P.
When explaining their decisions, both rating agencies noted Fortitude Re’s growth as a significant player in the global block and flow reinsurance markets, the Company’s expanding business diversification, solid capital position, and strong and expanding profitability.
“These positive ratings underscore our commitment to delivering a high-value and high-quality experience to our clients and the policyholders we serve,” said Alon Neches, CEO, Fortitude Re. “We are pleased to see our performance recognized by these agencies and look forward to continuing our upward ratings trajectory.”
About Fortitude Re
Fortitude Re is a leading provider of reinsurance solutions with $111 billion in total assets as of Dec. 31, 2023. The foundations of our business model are our exceptional insurance professionals and the support of the world’s most sophisticated insurance investors, including Carlyle and T&D Insurance Group. Our people, our capital strength and our capabilities drive strategic reinsurance solutions designed to meet our clients’ highest priority goals and to create sustainable, long-term value for our shareholders, our teammates, and the communities in which we operate. For more information visit www.fortitude-re.com and follow Fortitude Re on LinkedIn.
