Fortitude Re Completes $500 Million FABN Issuance

HAMILTON, Bermuda--(BUSINESS WIRE)--FGH Parent, L.P., (“FGP” and together with its subsidiaries, “Fortitude Re”), a leading global reinsurance company, today announced that Fortitude Life Insurance & Annuity Company (“FLIAC”) has completed its second funding agreement backed notes (“FABN”) offering to institutional investors, scheduled to settle June 12, 2026. The notes will be issued by Fortitude Global Funding (the “Issuer”), an unaffiliated Delaware statutory trust, and are backed by a funding agreement issued by FLIAC.

“Our second FABN issuance reflects our continued engagement with fixed income investors and their confidence in Fortitude Re,” said Alan Stewart, Treasurer, Fortitude Re. “Building on the success of our inaugural transaction, this offering further diversifies our funding sources, enhances financial flexibility, and supports our ability to deliver sustainable value for policyholders, clients, and stakeholders.”

The Issuer has priced a private offering of $500 million aggregate principal amount of 5.50% notes due June 12, 2031 (the “Notes”).

The proceeds from the Issuer will be used to purchase a funding agreement from FLIAC. The Notes carry ratings of A- from Fitch and A3 from Moody’s, consistent with FLIAC’s financial strength ratings.

About Fortitude Re
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.