Independent Company Backed by a Consortium of Investors led by The Carlyle Group and T&D Insurance Group
Investment Grade Rating from Fitch & $550m Credit Facility
– Confirms our ability to process and manage insurance and related risk
– Provides additional strength to our balance sheet, providing further protection to our clients and other stakeholders
Long-Term Strategic Partnership with The Carlyle Group
– Carlyle acquires 19.9% ownership interest in Fortitude Re
– Provides Fortitude Re with unique access to Carlyle’s investment capabilities
Reinsurance Transactions with AIG
– Fortitude Re enters into a series of Life & Annuity and P&C reinsurance transactions with AIG and receives an initial capitalization of ~$3 BN
– The transactions represent ~$37 BN of reserves supported by ~$40 BN of invested assets
Formation of Fortitude Re
– AIG forms a Bermuda domiciled composite reinsurer to reinsure its legacy insurance portfolio in a separate and distinct well capitalized balance sheet
– Dedicated and highly experienced management team appointed
Origins of Our In-Force Legacy Business
– AIG creates “Legacy” portfolio as a separate non-core segment
– Legacy portfolio represents insurance reserves associated with discontinued lines of Life & Annuity and P&C insurance businesses