Fortitude Re announced the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer.
In addition, Fortitude Re’s subsidiary, Fortitude Reinsurance Co. Ltd. (FRL), Bermuda’s largest multi-line reinsurer, obtained approval to operate as a “reciprocal jurisdiction reinsurer,” the first such approval to be granted by the Texas Department of Insurance.
As a result, Bermuda-based Fortitude Re said it now has the flexibility to transact through multiple entities and structures to help its clients achieve their objectives.