FGR announces FG RE Corporate Member Limited sale

FG Reinsurance Holdings, LLC (FGR), an indirect wholly owned subsidiary of Fundamental Global Inc., has entered into an agreement to sell its entire issued share capital of FG RE Corporate Member Limited.

The sale agreement of FG RE, a company incorporated and registered in England and Wales, was executed on March 14th, 2025.

In conjunction with the sale, Fundamental Global also intends to enter into agreements for the commutation of its Lloyds of London reinsurance treaties, namely UHA 251 22, B1868HT2300259, and B1868HT2400259.

The total consideration expected to be received by FGR from the sale of the corporate member and the commutations of the treaties is $5.6 million.

This amount is comprised of $0.3 million for the purchase of the corporate member and $5.3 million representing funds held at Lloyds of London supporting the commuted treaties, which will be replaced by the buyer.

The company expects reporting an impairment of assets held for sale of approximately $2.1 million. This impairment primarily reflects a non-cash write-off of deferred acquisition cost intangible assets.

The closing of the transaction is contingent upon receiving customary approvals and consents.

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