Fortitude Re announces $4bn reinsurance agreement with Taiyo Life
- November 12, 2025
- Posted by: Beth Musselwhite
- Category: Insurance
FGH Parent, together with its subsidiary, global reinsurance company Fortitude Re, has announced the signing and closing of a $4 billion reinsurance transaction between Fortitude International Reinsurance Company (FIRL) and Taiyo Life Insurance Company (Taiyo Life), a wholly owned subsidiary of T&D Holdings (T&D).
Effective February 28, 2025, Taiyo Life has reinsured a notable portion of its whole life annuity business to Fortitude Re and will continue to service and administer the reinsured policies.
This marks Fortitude Re’s second reinsurance transaction with Taiyo Life and its sixth deal in Japan.
Leonard Lin, Head of Asia at Fortitude Re, said, “We are honored that Taiyo Life continues to place their trust in us and we look forward to building on our successful partnership.
“This transaction further demonstrates our deep commitment to the Japan market and to helping our partners achieve their risk, capital and growth aspirations.”
Alon Neches, CEO of Fortitude Re, added, “The track record Fortitude Re has built in Japan underscores the power of the partnership between Fortitude Re and its shareholders.
“T&D’s origins and extensive activities in Japan combined with Carlyle’s 25-year track record in the country and leading asset origination capabilities, have helped grow our business ensuring that our policyholders benefit from the compelling value proposition we have built. Together, we are delivering innovative solutions that provide long-term value for insurers in Japan and around the world.”
Sidley Austin LLP and Mori Hamada & Matsumoto served as legal counsel to Fortitude Re on the Taiyo Life transaction.
This transaction follows the recent announcement that Unum Group is set to cede $3.4 billion of individual long-term care statutory reserves and around $120 million of multi-life individual disability insurance in-force premiums to Fortitude Re.
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