FGH Parent, L.P. (Fortitude Re), a global reinsurance company, and Carlyle, an investment firm, have announced the launch of Fortitude Carlyle Asia Reinsurance, Ltd. (FCA Re). The new entity is a Bermuda-based reinsurer with more than $700 million in capital and aims to support Fortitude Re’s expansion in the Asian life and annuity market.

FCA Re will initially take on some existing liabilities from Fortitude Re and participate in future transactions across Asia. Its capital comes from equity commitments by Fortitude Re, Carlyle, and several institutional investors such as T&D Insurance Group, AllianceBernstein, Shinhan Life, and the National Pension Service of Korea.

Fortitude Re will act as insurance sponsor for FCA Re while Carlyle will serve as asset management sponsor. When fully deployed, FCA Re is expected to add about $10 billion in fee-earning assets under management for Carlyle.

Alon Neches, Chief Executive Officer of Fortitude Re, stated: “Fortitude Re has already reinsured approximately $15 billion in reserves on behalf of clients in Asia and we are dedicated to making further investments in the region. FCA Re will help us continue delivering solutions that drive our clients’ strategies forward.”

Brian Schreiber, Partner at Carlyle and Head of Carlyle Insurance Solutions said: “FCA Re is a natural extension of Carlyle’s strategy to deliver integrated asset, capital and liability solutions to insurance clients worldwide. Through FCA Re, we are further demonstrating that the most sophisticated insurance investors globally are choosing to access the Asian market by partnering with one of the world’s most accomplished reinsurers and one of the largest global investment firms. With Carlyle’s more than 25-year history and deep experience in Asia, we are excited to continue to drive growth in the region.”

J.P. Morgan Securities acted as financial advisor while Debevoise & Plimpton LLP served as legal advisor for both sponsors and FCA Re.

Fortitude Re reported total assets of $105 billion at the end of 2024. The company highlights its team expertise and backing from major insurance investors like Carlyle and T&D Insurance Group as key strengths.

Carlyle manages $465 billion in assets across private equity, credit markets, and AlpInvest platforms as of June 30, 2025. The firm operates with over 2,300 employees across 27 offices worldwide.

For more information about Fortitude Re visit www.fortitude-re.com or follow them on LinkedIn; for details about Carlyle visit www.carlyle.com or follow them on X @OneCarlyle or LinkedIn at The Carlyle Group.